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Kuwait’s International Financial Advisors (IFA) Holding has secured a deal whereby it gets to postpone paying off its entire debt for a further five years.
Rafael Nadal married his childhood sweetheart of 14 years, Xisca Perello, at a castle in Mallorca on Saturday. Nadal,…
28 | the publication reaches you by | Kuwait OnlineUnder the new debt deal with a “foreign bank”, IFA will pay off its $65 million debt (20.05 million Kuwaiti dinars) on a fixed annual interest of 1.5 per cent, and which will be paid off in quarterly installments. A “related company” replaced IFA in the transaction.
Other big-time developers in the Gulf could also be rescheduling their debts in the coming days, to make better use of the low interest rate environment. It’s unlikely that rates are going to head higher at any immediate point.
Against the backdrop of the unprecedented conditions brought on by the COVID-19 pandemic, Boursa Kuwait saw a net profit…
8 | the publication reaches you by | Kuwait Online
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
