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All but One Creditor Join $2.2 Bln Drydocks Debt Plan

Dubai World's shipbuilding unit has gotten 98 percent of creditors signed up to its $2.2 billion restructuring plan with all but one agreeing to the terms, its chairman said.

April 4, 2012 4:28

Abu Dhabi's Al Jaber Gets 90 Pct Support for Debt Standstill – Sources

Abu Dhabi conglomerate Al Jaber Group is close to a standstill agreement on its $1-billion plus debt restructuring of debt, with more than 90 percent of lenders agreeing to the move.

April 4, 2012 3:32

Dubai's Drydocks World Edges Closer To Restructuring Approval

Drydocks World, which is testing a form of insolvency protection drawn up in response to Dubai's 2009 debt crisis, has 87 percent of creditors signed up to its proposed restructuring plan, an external advisor said on Tuesday.

April 3, 2012 6:06

Dubai's DMCC Says To List Copper Futures Soon

"We think the DGCX team and member clients are ready for this now," Ahmed bin Sulayem, DGCX's chairman and head of the Dubai Multi Commodities Centre (DMCC) said on Monday.

April 2, 2012 5:13

Counteroffers on the rise to retain staff

Although some are concerned it will impact salary structure, counteroffers have rising this past six months as staff retention finally becomes a key priority. Is this last ditch effort enough?

April 1, 2012 11:12

Abraaj gears up for IPO for next year -CEO

Following its recent acquisition of fund manager Aureos Capital, Abraaj Capital is gearing up for an IPO as early as next year, group chief Arif Naqvi announces. Will this revive the IPO activity in the region?

March 28, 2012 4:20

Dubai World Cup: Hats on the brain

We take our hats off to the Dubai World Cup for being one of the few times when people can put a loofah on their head and be called posh for it.

March 27, 2012 3:36

Dubai tries hard to boost business

Between temporary licenses, pension funds and mandatory insurance and credit rating schemes, Dubai is pulling all the stops to look better in the business world.

March 26, 2012 2:45

Investors hope UAE Q1 earnings justify stock rally

As the first quarter of the year draws to a close, investors are looking ahead to the announcement of corporate earnings for the period. In the United Arab Emirates, they are seeking justification for the sharp rally in local stocks over recent weeks.

March 24, 2012 4:06

UAE’s Emal sales to US to more than double in 2012

Emirates Aluminium (Emal), a joint venture between Abu Dhabi's Mubadala and Dubai Aluminium (Dubal), is looking to double its exports to the United States by the end of 2012 as demand from the automotive industry rises, it said on Wednesday.

March 21, 2012 2:06

Dubai’s Emirates NBD eyes 5-year benchmark dollar bond

Emirates NBD, Dubai's largest lender by market value, has picked banks to arrange a new five-year dollar bond which could price as early as Wednesday, lead managers said on Wednesday.

March 21, 2012 2:04

UAE cuts mortgage lender Amlak’s debt by $1.1B

The federal government has cut struggling Islamic lender Amlak's debt burden by $1.1 billion, the UAE economy minister said on Tuesday, in the latest effort to revive the Dubai mortgage provider whose stock has been halted since 2008.

March 20, 2012 10:59

Fine for feeding strays: Why so catty about it?

A responsible move towards curbing the growth of stray animals is welcomed. But how about we give it more of a radical kick where it could really make a difference?

March 19, 2012 11:18

The Six Degrees of…George Clooney

George Clooney’s arrest for protesting against violence in Sudan has prompted Kipp to look out who might bail him out. Would Jordan’s Queen or Azerbaijan’s First Lady do it?

March 18, 2012 4:32

The week ahead: fragile UAE uptrend, Egypt hopes for IMF loan

After a sharp setback last week, UAE stock markets are now showing high trading volumes. But some say it remains fragile, speculative and depends on a benign global backdrop.

March 15, 2012 11:07