DUBAI Saudi Aramco has selected banks to arrange its first international debt sale, which will help it finance the acquisition of a stake in Saudi Arabian Basic Industries Corp (SABIC), two sources familiar with the matter said on Thursday.
DUBAI/RIYADH, Feb 13 A commercial court in
Dammam has rejected an application by the conglomerate Ahmad
Hamad Algosaibi and Brothers (AHAB) to settle its debt under a
new Saudi bankruptcy law, AHAB told Reuters on Wednesday.
DUBAI, Feb 12 Oman is not facing a credit crunch
but the Gulf Arab oil producer should speed up implementation of
fiscal reforms like the introduction of a value-added tax (VAT),
an IMF official said.
DUBAI, Feb 11 Authorities in Lebanon, which has
one of the world's highest debt to GDP ratios, have not asked
the International Monetary Fund to provide funding, the IMF's
regional head told Reuters on Monday.
DUBAI Top oil exporter Saudi Arabia would need oil priced at $80-$85 a barrel to balance its budget this year, an International Monetary Fund official said.
DUBAI Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on "white elephant projects".
DUBAI Abu Dhabi’s Etihad Airways has approached banks to raise over $500 million (386 million pounds) to finance four Boeing 787 Dreamliners it previously ordered, two sources familiar with the matter said.
DUBAI A dispute between Dubai and Kuwait appeared to have ended on Tuesday as the United Arab Emirates' central bank authorized the release of $496 million which had been frozen at Dubai's state-owned Noor Bank since late 2017.
ABU DHABI/DUBAI, Abu Dhabi is expected to roll over for the second time $20 billion (15 billion pounds) of debt, due next month, that it extended to Dubai during its financial crisis a decade ago, three sources familiar with the matter said.
DUBAI, Feb 4 Oman Aviation Group, a government
entity in charge of investments in the country's civil aviation
sector, is seeking an adviser for debt financing of around $5
billion, two sources familiar with the matter said.