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
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
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.
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
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