Thursday 24 April 2014
 
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debt

Collapsed Bahraini banks seek debt deal

A multi-billion dollar financial dispute that followed the collapse of two Bahraini banks continues to make ripples around the world.    Now, more than four years later, some creditors are being offered a fi

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Dubai World hires Blackstone to look at debt options

Conglomerate Dubai World has hired New York-based investment and advisory firm Blackstone Group LP to take a fresh look at its debt and how to make repayments to creditors, sources aware of the matter told Reuters. "This is o

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Debt casts deep shadow over Egypt's recovery

After Egypt's new finance minister took office last month, one of his first acts was to downgrade the government's assessment of its finances. Hany Kadry Dimian said this year's budget gap would be about a third bigger than his prede

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UAE, Abu Dhabi roll over $20bn of Dubai's debt

Abu Dhabi and the central bank of the United Arab Emirates have agreed to refinance $20 billion of debt that was extended to the Dubai government as emergency aid during its financial crisis and comes due this year, the state news agency said on

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Mena commercial borrowing to hit $56bn

The 12 rated sovereigns in the Mena region - Abu Dhabi, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Ras Al Khaimah, Saudi Arabia and Sharjah - would borrow an equivalent of $56 billion from long-term commercial sources in 2014

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Nakheel initiates $639m bank debt repayment

Dubai developer Nakheel said it has initiated early repayment of Dh2.35 billion ($639.8 million) of bank debts 18 months ahead of maturity in September 2015. The state-owned company had accumulated Dh6.8 billion of bank debts whil

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Dubai, cbank agree roll-over of $10bn debt

Dubai has reached agreement on rolling over $10 billion in debt extended by the central bank of the United Arab Emirates during the global financial crisis, two sources familiar with the matter told Reuters on Wednesday. The emira

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India's Bharti eyes $2bn from Africa towers sale

India's Bharti Airtel plans to sell most of its transmitter towers in Africa, in a process that could raise up to $2 billion for the country's top telecom operator and help reduce its debt. Bharti, which entered Africa wit

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Dubai confirms final debt deal

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. Len

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Gulf Navigation to write off $300m losses

Dubai's Gulf Navigation received shareholder backing to continue operating as well as approval for measures aimed at fixing its long-standing debt problems, including a write-off of accumulated losses and a convertible bond issue.

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