Dubai food conglomerate IFFCO set to go into provisional liquidation
Creditors nominated FTI Consulting in effort to protect assets as firm struggles with $2bn debt pile and fallout from Iran war
Related reading
The Iran war shock for developing nations
Poorer countries face a triple whammy of crises in fuel, food and remittances
US fertiliser bosses cash in as Iran war boosts shares
CF Industries aided by access to low-cost US natural gas as energy crisis slams Asian and European competitors
Airlines in crisis mode as Iran war hits jet fuel supplies
Carriers scale back expansion plans as oil prices soar
Hedge funds suffered worst losses since Covid in Iran war turmoil
Managers have struggled to navigate huge market swings sparked by conflict
Gulf states turn to private deals in $10bn wartime borrowing spree
Abu Dhabi, Qatar and Kuwait avoid public markets for fundraising as Iran conflict delivers economic hit
India’s restaurants stop deep frying food as gas crisis bites
South Asia reels from global energy crisis sparked by the US-Israeli war on Iran