The United Nations General Assembly has approved what it described as global ‘basic principles’ for sovereign debt restructuring processes to improve the global financial system, an initiative that was inspired by Argentina's d
Kuwait's Investment Dar remains on track to agree the bulk of a KD813 million ($2.8 billion) debt restructuring plan despite resistance by some minority investors, according to a company document.
The firm, which holds a stake
The court administering conglomerate Dubai World's restructuring on Tuesday set March 17 as the provisional date for creditors to vote on whether to approve a $14.6 billion debt deal.
The Dubai World Tribunal on Tuesday held i
Egypt's national carrier has hired Texas-based airline advisory firm Sabre Airline Solutions to prepare a restructuring plan for the state-owned company, which has suffered about a billion dollars in losses since 2010.
Egypt's national carrier said on Tuesday it had hired Texas-based airline advisory firm Sabre Airline Solutions to prepare a restructuring plan for the state-owned company, which has suffered about a billion dollars in losses since 2010.
Egypt's Qalaa Holding will issue shares worth four billion Egyptian pounds ($560 million) by May next year to advance a major restructuring of the loss-making investment fund, a company official said.
Qalaa, one of Egypt's
Dubai World's biggest creditors have agreed a deal with the state-owned conglomerate to renegotiate its debt repayment schedule, one of Dubai's top government officials said on Wednesday.
However, Sheikh Ahmed bin Saeed al
BlackBerry launched an unconventional new smartphone dubbed the Passport on Wednesday as it embarked on what may be the most critical phase of its long turnaround push.
At simultaneous events in Dubai, Toronto and London, BlackBer
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
A restructuring of major Dubai construction firm Arabtec will not damage its ability to proceed with its expansion plans, chairman Khadem Abdulla al-Qubaisi said in a statement on Wednesday.
Qubaisi issued the statement to the Dub