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Special Report on

Debt restructuring 'challenging' for UAE

debt restructuring challenging for uae special research report Photo by wallstreetpit.com
(Reuters) - Dubai Holding's main unit said it may resort to asset sales to deal with its debt after posting a $6.2 billion loss for 2009, sending shares in Dubai tumbling as the market reacted to the latest setback for the emirate. Dubai Holding Commercial Operations Group (DHCOG), a unit of the conglomerate owned by the Gulf Arab emirate's ruler, took a big hit on its exposure to Dubai's property crash. The unit said it was in talks with banks to roll over debt and had access to emergency funding if needed as it renegotiated obligations to trade creditors. Among its high-profile assets is the Jumeirah Group of ...
by GDP (PPP). The World Economic Forum placed Morocco as the 2nd most competitive economy in North Africa behind Tunisia, in its African Competitiveness Report 2009. Additionally, Morocco was ranked the 1st African country by the Economist Intelligence Unit ' quality-of-life index , ahead of South Africa . Tough government reforms and steady yearly growth in the region of 4-5% from 2000 to 2007, including 4.9% year-on-year growth in 2003-2007 the Moroccan economy is much more robust than just a few years ago. Economic growth is far more diversified, with new service and industrial poles, like Casablanca and Tangier , ...
REVIEWS AND OPINIONS
Middle East and North Africa driving out of the financial crisis
The Middle East and North Africa region is recovering from the financial crisis along with the global economy. Growth in 2010 is expected to be 4.4 percent region-wide, driven by domestic absorption as well as a positive contribution from external demand. The recovery from the crisis differs by country depending on initial conditions and the intensity of the impact via the three principal channels through which the global financial crisis affected MENA economies—the financial sector, the price of oil, and the balance of payments, reflecting the impact on trade, remittances and FDI flows. The GCC countries are leading the ... market research, surveys and trends
The Oil Drum | Drumbeat: July 11, 2010
Even before we reach peak oil, we could witness an oil supply crunch because of increased Asian demand. Major new investment in energy takes 10-15 years from the initial investment to the first production, and to date we have not seen the amount of new projects that would supply the projected increase in demand. • The IEA projections assume that additional supply from the Organization of the Petroleum Exporting Countries will largely fill the gap between declining non-OPEC production and rising world demand. But this implies the willingness and ability of those countries to invest or attract foreign investment into their oil ... market research, surveys and trends

SURVEY RESULTS FOR
DEBT RESTRUCTURING 'CHALLENGING' FOR UAE

Dubai deal seen raising funding costs for UAE firms - Banking ...
GLOBAL CONCERN: Before the financial crisis hit global markets, foreign banks were lending extensively to the region. (Getty Images) A Dubai World debt deal will help lift investor concerns about the regions' financial stability but local firms trying to raise money will still pay a higher price and face more scrutiny, analysts said Dubai World, which said in November it would delay repayment on $26 billion in debt as it restructured, is in the final stages of preparing a debt restructuring proposal to present to its creditors. Analysts expect any proposal that sets less attractive terms for creditors will set a precedent ... industry trends, business articles and survey research
CORRECTED-TIMELINE-Defaults: Islamic finance | Reuters
(Corrects July 13 entry to say "some of whose partners' accounts were frozen" instead of "whose accounts were frozen") Nov 5 (Reuters) - A sukuk default by Kuwait's Investment Dar and debt restructuring at Saudi conglomerates have shaken confidence in the $1 trillion Islamic finance industry, fanning debate about investors' protection and investors' rights. Billed as safer than traditional banking due to requirements for assets to underpin deals, Islamic bond holders worry they may not have any more legal safeguards than conventional counterparts in case of default, or perhaps even less, ... industry trends, business articles and survey research
RELATED NEWS
Moody's downgrades DIFCI to B3; outlook negative (UAE)
London, 08 July 2010 -- Moody's Investors Service has today downgraded to B3 from B2 the senior unsecured issuer and debt ratings of DIFC Investments LLC ("DIFCI" or "the Group") and Dubai Sukuk Centre Ltd. At the same time, Moody's has converted DIFCI's B3 issuer rating into a B3 corporate family rating (CFR) and assigned a probability of default rating (PDR) of B3, in line with the rating agency's practice for corporate issuers with non-investment-grade ratings. The outlook on all ratings is negative. Today's rating action concludes the review for possible downgrade, which was ... market trends, news research and surveys resources
Dar, Blom UK Case Dismissal Removes Hurdle: Islamic Finance
July 8 (Bloomberg) -- The Islamic finance industry overcame a hurdle when a London court threw out an appeal in a case that Moody’s Investors Service said could have undermined the market. Investment Dar Co., the Kuwait-based company that owns half of luxury carmaker Aston Martin Lagonda Ltd., won’t be able to challenge a contract with BLOM Development Bank SAL of Lebanon, because U.K. courts required it to pay more than $10 million to proceed with the appeal, court documents show. The company didn’t meet the May 25 deadline and an out of court settlement may be sought, BLOM lawyer John Bramhall, said last ... market trends, news research and surveys resources

INFORMATION RESOURCES

DP WORLD LIMITED PRELIMINARY RESULTS FOR THE 12 MONTHS TO 31 ...
Mar 24, 2010 ... “2009 has been a challenging year for all economies and across all industries. ... cutting and restructuring costs to preserve margins and deliver profit. ... There will be two conference calls for debt and equity analysts and investors; ... significant decline in non-container cargo in the UAE, ... technology research, surveys study and trend statistics
Argentina's Sovereign Debt Restructuring
The IMF also has a role to play in the third major challenge, restructuring the debt. Although it does not participate directly in debt restructuring ... technology research, surveys study and trend statistics
REAL TIME
DEBT RESTRUCTURING 'CHALLENGING' FOR UAE
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Google Answers: japans economy
I need the following questions answered before Thursday april 20th at 2:00 pm. it is quite direct and it is needed to justify me going into the country for a business venture. The questions are as follows ? Japans state of economic development ( how has it changed and where is it now as well as is it volatile to future economic fluctuations) ? Japans social and cultural environments (what aspects of Japanese culture should I be aware of before venturing in) ? Japans political, legal, and regulatory environments (what can slow my business operations down) ? Japans monetary policies and exchange rates (who regulates it and ...
India's property market to go the Dubai way? | LinkedIn Answers ...
first of all there is fundamental difference in Indian and Dubai Real Estate Market, Indian Property Market and Business owned by different segment of industry and people not by any Government owned Bodies, where most of Dubai real estate Business belongs to Government owned bodies likes of Nakheel, Emaar, and up to some extent Tamwil too In India Investor on a large way are Indian only and not FII or Foreigners likes of Dubai where Foreigners can run away as and when they need. Indian Companies and Indian Customers does not trust or deal largely on Post Dated Cheques where Dubai Business Runs on PDC Most of the property which ...