Friday 1 August 2014

Al Jaber, top creditors agree debt terms: sources

Abu Dhabi conglomerate Al Jaber Group has agreed on terms to restructure nearly $4.5 billion in debt with its main creditors, three sources said on Tuesday, with final approval from other lenders expected to end talks which have dragged on for o


Dubai Investments Q1 net up 6.3pc

Conglomerate Dubai Investments posted a 6.3-per cent rise in quarterly net profit on Sunday and said the company was reviewing opportunities to divest some of its businesses. The firm, in which sovereign wealth fund Investment Corporation


Top Qatari group profit up 21pc

Mannai Corporation, a Qatar-based conglomerate with more than 60 years in trade and service industries, said its net profit for 2011 rose 21 per cent to QR279 million ($76.6 million) from QR231 million the previous year. Ann


Al Jaber in top management reshuffle

Al Jaber Group, a family-held conglomerate in the midst of a $1-billion plus restructuring, will hire a new chief executive to replace the founder's son, three sources told Reuters. A recruitment firm has been retained to bring in a n


Top Egyptian group inks $20m loan deal

Wadi Group, a leading Egyptian conglomerate, said it has signed a $20 million loan agreement with Proparco, the financing arm of the French Development Agency, to fund its expansion and growth plans in the country. The agreement was signed

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