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Foreign banks charge back into GCC as local lenders squeezedForeign banks are regaining lost ground in the Gulf's financial sector, stealing a march on local lenders as they grapple with job cuts and a liquidity squeeze caused by the plunging oil price. Japanese, French and US banks ar More… |
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Banks 'in loan restructure row with STC'Lenders including Deutsche Bank, HSBC and China Development Bank are resisting calls by Saudi Telecom (STC) to restructure a loan that could potentially leave them with losses of up to $600 million, Reuters quoted banking and industry sources More… |
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Thomas Cook close to $1.9bn lifelineThomas Cook is close to securing a 1.2 billion pounds ($1.90 billion) lifeline from its lenders to secure the future of the world's oldest travel company which issued three profit warnings last year, the Sunday Times reported. More… |
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Dubai Holding unit inks $2.5bn debt dealDubai Holding today announced that Dubai International Capital (DIC), its private equity investment arm, has reached a final agreement with its lenders regarding the restructuring of approximately $2.5 billion of liabilities. Under the ter More… |
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Drydocks wins lenders' backing for debt dealDubai's ship building unit Drydocks World has secured the necessary level of support from its syndicated lenders to implement the restructuring of its $2.2 billion debt, the company said in a statement on Saturday. The Dubai World unit More… |
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Morocco eyes first Islamic bank launch in 2013Foreign Islamic banks will be allowed to take up to 49 percent of Morocco's first fully-fledged Islamic bank in 2013, as the country aims to become a regional financial hub, a minister said. The government will submit to parliament a draft More… |
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Greece pushes for key debt dealGreece's government made another push on Saturday to hammer out a deal with foreign lenders on a 130 billion euro bailout before turning to the trickier task of convincing wary political leaders to back the additional painful reforms involved. More… |
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Nakheel offers lenders repayment after 4.5 yearsDubai-based developer Nakheel, restructuring $10.9 billion in debt, has offered lenders repayment after four and a half years at a rate of 4 percent on a portion of its debt, sources familiar with the deal said. The terms of the restructur More… |
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Lenders question Dubai's shortfall guaranteesDubai's pledge to cover gaps in Dubai World's debt repayment plan has become a sticking point for lenders, some of whom want state guarantees to fall under British - not local - law, bankers close to the matter said. The issue aros More… |
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Lenders in Dubai for crucial debt talksOver-stretched Dubai plays host to some of its bank creditors on Thursday, eight months after the emirate's flagship state conglomerate Dubai World hit the financial buffers. A core group of banks has already agreed broad terms for a r More… |
