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15 Kuwait construction firms 'may declare bankruptcy'A total of 15 companies in Kuwait will soon declare bankruptcy due to lack or scarcity of liquidity and inability to meet their financial commitments for completing projects suspended for more than three years, a media report said. More… |
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Greece must do more for rescue say Euro leadersEuro zone leaders told near-bankrupt Greece at an emergency summit on Sunday that it must restore trust by enacting key reforms before they will open talks on a new financial rescue to keep it in the European currency area. Leftis More… |
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UAE set to OK new bankruptcy law by year-endThe United Arab Emirates is close to finalising an updated federal bankruptcy law and a draft of the legislation should be ready by the end of this year, Justice Minister Hadef bin Juan Al-Dhaheri said on Monday. &nbs More… |
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Australian budget airline grounds fleetThousands of travellers from Hawaii to Thailand were stranded on Friday after budget airline Air Australia ran out of money and went into voluntary administration, immediately grounding its five-jet fleet. The Brisbane-based international More… |
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Kodak sues Fujifilm over patentsEastman Kodak Company is suing Fujifilm Corporation, claiming that some of its Japanese rival's cameras infringe its patented digital-imaging technology. The lawsuit, filed on Friday in US District Court in Rochester, New York, claims Fuj More… |
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Many Bahrain businesses 'face bankruptcy'Dozens of Bahraini companies and traders could go bankrupt in the aftermath of the recent crisis which gripped the kingdom, a report said. Bahrain Chamber of Commerce and Industry (BCCI) has sounded the alarm bell, calling for an immediate More… |
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Nortel agrees to sell enterprise unit to AvayaBankrupt Nortel Networks, a top global technology company, has said that it has agreed to sell its enterprise unit, which builds networks for companies, to Avaya, a leader in business communications, for $475 million. The company also said More… |
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Dubai property fall hits IraniansThe economy of the United Arab Emirates, the world's fifth-largest oil exporter, has surged 50 per cent in real terms since 2004, but the tide has turned as slumping oil prices and a global financial meltdown put an end to Dubai's property boom. More… |
