Leading UAE investment bank Shuaa Capital has appointed Dubai Group CEO Ahmed Al Qassim as a non-executive director with immediate effect.
Prior to his appointment at Dubai Group, Al Qassim, an Emirati national, was the director f
Financial services conglomerate Dubai Group has reached a final deal with creditors on restructuring $10 billion of debt, resolving the last major hangover from the emirate's financial crisis, its parent company confirmed.
Dubai Group has signed a $10 billion debt restructuring agreement, two sources with knowledge of the matter told Reuters on Thursday, bringing an end to the last major hangover from the emirate's 2009 financial crisis.
Dubai Financial Group, a subsidiary of diversified financial services company Dubai Group, has sold its 30.5 per cent stake in Bank Islam to BIMB Holdings, a Malaysia-based investment holding company.
The agreement was signed betw
Dubai Group, an investment vehicle owned by the emirate's ruler, will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, a top official said.
Dubai Group's $10 billion debt restructuring will be managed by the head of another state-linked firm while two banks will have a monitoring role to ensure more oversight from creditors, sources aware of the matter said.
An Omani sovereign wealth fund is in advanced talks to buy a near 42-percent stake in Oman National Investment Corp Holding (Onic) from a unit of Dubai's ruler's personal investment firm, two sources aware of the matter
Dubai Group, a struggling unit of the ruler of Dubai's personal investment firm, has settled with banks who brought legal action against it to secure repayment of their share of $10 billion of debt, raising hopes a wider restructuring can no
Dubai Group, an investment vehicle restructuring $10 billion of debt, is in talks to sell its stake in Oman National Investment Corp Holding (Onic), three sources aware of the matter said on Wednesday.
Dubai Group, part of Dubai H
Dubai Group, part of the ruler of Dubai's personal empire, has cut half its staff of about 30 people as part of cost-cutting measures in its $10 billion restructuring, three sources told Reuters on Monday.