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Top News In ஸ்டான்போர்ட் கடல் குழு Today - Breaking & Trending Today

Egyptian stocks outperform in rising Middle Eastern markets

3 Min Read
(Reuters) - Middle East stocks closed higher on Sunday following Friday’s rise in global equities and a jump in oil prices, with Egyptian shares outperforming after the International Monetary Fund forecast better economic growth for the country.
FILE PHOTO: A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. REUTERS/Hamad I Mohammed
Sentiment was supported by United Arab Emirates reopening all its land, sea and air entry points with Qatar on Saturday, while Qatar Airways and Saudi Airlines said they would resume flights between Doha and Riyadh as part of a deal to end a three-year-old regional dispute. ....

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SHUAA Capital Leads Consortium to Buy Stanford Marine's $308Mn in Debts

Monday, 11 January, 2021 - 11:15
SHUAA Capital has bought 1.13 billion dirhams of debt held by Stanford Marine Group (SMG) as part of its restructuring. (Asharq Al-Awsat)
Dubai - Asharq Al-Awsat
A consortium led by the United Arab Emirates financial firm, SHUAA Capital, has bought 1.13 billion dirhams ($308 million) of debt held by Stanford Marine Group (SMG) as part of its restructuring, the companies said on Sunday.
The plan has helped save more than 1,800 jobs and annual exports of close to $20 million worth of UAE-manufactured vessels at the ultramodern Grandweld shipyard’s facility in Dubai Maritime City.
The debt buyout has supported banks in exiting a distressed debt situation with a cash recovery. ....

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Middle East stocks see gains on Sunday

Middle East stocks closed higher on Sunday following Friday’s rise in global equities and a jump in oil prices, with Egyptian shares outperform. ....

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Shuaa Capital buys out Stanford Marine Group's Dh1.13b debt - News

Dubai-based marine services firm SMG has struggled since the collapse in oil prices in 2015, which led to a dramatic fall in chartering rates and a dryi. ....

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SHUAA Capital in $308m debt deal with Dubai shipyard firm

DUBAI: Dubai’s SHUAA Capital on Sunday announced it had completed a $1.13 billion ($308 million) debt buyout of Stanford Marine Group (SMG), an offshore services support firm for vessels in the oil and gas sector. Negotiations on the deal began in 2019, according to a report by WAM, the UAE state news agency. The restructuring will strengthen SMG’s liquidity position and help ....

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