Al Gosaibi proposes improved settlement termsAhmad Hamad Al Gosaibi & Brothers, a large diversified family-owned Saudi business group, has announced an enhanced settlement proposal to be presented at a claimants' meeting to be held in Dubai, UAE on June 2. Details of More… |
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New $1.9bn lawsuit filed against Al GosaibiAdministrators of a collapsed Bahraini bank have filed a $1.9 billion lawsuit against the Saudi conglomerate Ahmad Hamad Al Gosaibi and Brothers (AHAB) caught up in a global fight over massive debts. Trowers and Hamlins, which has More… |
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Abu Dhabi bank exposed to Saudi groupsAbu Dhabi Commercial Bank has at least $500 million in exposure to troubled Saudi business groups Saad and Algosaibi, a banking source said on Wednesday. "ADCB has significant exposure to the Saudi businesses. It could be easily over $500 More… |
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Batelco to deploy latest network at bankBatelco and Bahrain Islamic Bank (BIB) announced a major deal that will see the telecom service provider replace the bank's network with a state-of-the-art multi protocol label switching (MPLS) network infrastructure. Batelco's 21s More… |
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Bahrain puts clamp on two banking unitsBahrain has placed restrictions on the kingdom-based banking units of two troubled Saudi firms but has not frozen their assets, the central bank governor said. Awal Bank, which is controlled by Saudi conglomerate Saad Group, and The Intern More… |
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Gulf banks 'more exposed to Saad, Al Gosaibi'Gulf Arab banks have more exposure to two struggling Saudi family groups than previously thought, two central bankers said on Monday, the latest setback for lenders recovering from a regional liquidity crunch. Oman's central bank chief More… |
