Dubai property developer Nakheel is repaying all of its Dh7.9 billion ($2.15 billion) of bank debt as much as four years ahead of schedule, the company said in a statement on Wednesday.
The final instalment of the debt was to have
The UAE topped the large increase in issuance by the GCC’s non-financial sector, which accounted for $8 billion, even the debt markets saw a rebound in growth in the second quarter of the year.
The exceptional non-fina
Bahrain-based Islamic investment bank, Gulf Finance House (GFH), has repaid $25 million to debt holders marking total debt principal payments of $33 million so far this year.
In a statement to the Bahrain Bourse, the bank said this repr
Argentina has defaulted on its debt after talks with holdout creditors broke down on Wednesday.
As the clock ticked toward a midnight (0400 GMT) deadline, Economy Minister Axel Kicillof stuck firmly to the government line, repeate
Dubai property developer Nakheel, which was a major victim of the emirate's financial crisis five years ago but is now recovering strongly, reported a 54 per cent jump in profit for the first half of this year.
Dubai's ability to finance its debts has improved because of stronger economic growth and more conservative spending, but the emirate would still be vulnerable in a major dowturn of the global economy, the International Monetary Fund said.
Saudi Electricity Company (SEC) will be paid 2.7 billion riyals ($719.9 million) in debt owed by high profile customers, it said in a statement on Sunday.
The debt was previously recorded as provisions against receivables outstand
Dubai mortgage lender Amlak has made a new proposal to creditors to restructure and extend repayments of about $2.7 billion of debt, aiming to end protracted talks over the last major hangover from the emirate's property market crash in 2008
Dubai property developer Nakheel will repay all its outstanding debt to banks by August this year, four years ahead of the schedule mandated by its restructuring plan, the state-run company's chairman said on Wednesday.
High oil prices fuelled by the escalating crisis in Iraq could help drive down Bahrain's national debt.
Crude oil prices have been on the increase in recent weeks, with concerns over disruption in supply dr