Monday 5 December 2016
 
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Crisis

Saudi Binladin makes delayed payment on $266m sukuk

Contracting giant Saudi Binladin Group (SBG) has repaid a SR1 billion ($266.7 million) Islamic bond that matured in late June, a sign of modestly easing pressure on the embattled firm, banking sources told Reuters on Thursday. The

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EU says to wait for talks while Britain in 'deep crisis'

Britain is in a "deep political crisis" following its referendum vote to leave the EU and so European leaders must give it some time to launch the formal divorce process, a senior EU official involved in preparing their next summit sai

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Crisis in UK Labour party as foreign policy chief sacked

Eight members of Britain's opposition Labour party said on Sunday they had withdrawn support for the leadership of Jeremy Corbyn, plunging the party into crisis in the wake of Britain's vote to leave the European Union. Co

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Lotte may shelve $4.5bn hotel IPO amid crisis

Lotte Group indicated it will shelve what may have been a $4.5 billion initial public offering, the world’s biggest so far this year, for its hotel unit after widening investigations pushed the South Korean conglomerate deeper into crisis,

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GCC economic project awards down but above crisis levels

Awards of major economic projects in Gulf oil-exporting states have dropped this year but remain above levels seen during the global financial crisis of 2008-2009, Abu Dhabi Commercial Bank (ADCB) said in a report released on Thursday.

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Saudi Binladin crisis will be resolved says minister

The crisis surrounding major Saudi Arabian construction company Saudi Binladin Group (SBG), which has been struggling to pay its workers, will be resolved, Labour Minister Mufrej Al Haqbani said on Tuesday. Al Haqbani, speaking to

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Egypt struggles to get subsidised food to poor amid crisis

"Any rice?" says the woman, leaning into a shop in Cairo and brandishing a green smartcard that carries her family's food credits. The shopkeeper shakes his head: "Only sugar."   Behind hi

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Gulf’s current oil price crisis in focus

Experts will try to find solutions to the Gulf’s current oil price crisis, which has dented regional economies, during a conference called ‘The Future of GCC Countries’ Economies in Light of the Drop in Oil Prices’ in B

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GM suspends Egypt operations due to currency crisis

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and subsequent political tur

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GM suspends Egypt operations due to currency crisis

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and subsequent political tur

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