Sunday 25 September 2016
 
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Bankruptcy

UAE cabinet approves new bankruptcy law

The UAE cabinet has adopted the final draft of the federal law on bankruptcy which allows companies and individuals to restructure their debt while avoiding bankruptcy liquidation. The bankruptcy law is one of the most important f

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UAE bankruptcy law may be finalised by year-end

The UAE may finalise a long-pending bankruptcy law by the end of this year, the economy minister said on Wednesday, a move that could help smaller companies in particular as the economy slows because of low oil prices. "The n

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Bankruptcy protection urged for Bahrain SMEs

Bahrain Small and Medium Enterprises Development Society has called for urgent solution to the financially troubled companies that would protect them from going bankrupt. The society warned that many businesses might close down an

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High risk of bankruptcy for one-third of oil firms: Deloitte

Roughly a third of oil producers are at high risk of slipping into bankruptcy this year as low commodity prices crimp their access to cash and ability to cut debt, according to a study by Deloitte, the auditing and consulting firm.

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High risk of bankruptcy for one-third of oil firms

Roughly a third of oil producers are at high risk of slipping into bankruptcy this year as low commodity prices crimp their access to cash and ability to cut debt, according to a study by Deloitte, the auditing and consulting firm.

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Bahrain mulls new legislation on bankruptcy

Bahrain is considering new legislation on bankruptcy that would encourage responsible risk taking without a fear of failure, Industry, Commerce and Tourism Minister Zayed Al Zayani said yesterday (October 1). Addressing a business networking l

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Dubai realtor S&K blames weak market for bankruptcy

Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the UAE emirate contributed to its decision to file for bankruptcy and be liquidated. "Simply put, the revenue being generated by th

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US airlines receive benefits worth $71bn: study

US airlines have received benefits valued at $71.48 billion, more than $70 billion of which has been since 2000, enabling the nation's three largest carriers to transition from the verge of bankruptcy to today’s industry leaders, each

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Bahraini bank group seeks bankruptcy protection

A group of investment vehicles owned by a Bahraini bank are seeking US bankruptcy protection to shield more than $200 million from Saudi Arabia's Ahmad Hamad Algosaibi and Brothers, agency reports say. Awal Finance Company, a

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Delta CEO blames Gulf for bankruptcy protection

Delta Airlines CEO Richard Anderson has said that the Gulf region was the source of the September 11, 2001 attacks that hurt the airline industry in the US. In an interview with CNN’s Richard Quest, Anderson said it was iron

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