News

Bloomberg Argentina’s three largest creditor groups joined forces to submit a new bond restructuring proposal that would provide the country more than $35 billion in debt relief over the next nine years. The Ad Hoc group, the Exchange Bondholder group and the Argentina Creditor Committee, which represent investors including BlackRock Inc. and Ashmore Group PLC, said that they had agreed ...

Bloomberg Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, kicking off a much-anticipated market debut for China’s leader in internet finance. The parent of China’s largest mobile payment company will pursue a simultaneous dual-listing in Hong Kong and on the Shanghai stock exchange’s STAR board, the ...

Bloomberg Oil extended declines towards $40 a barrel as concerns about demand linger with coronavirus raging across many regions. Infections flared by a record in Hong Kong, and Los Angeles is on the brink of another stay-at-home order. New cases have accelerated in California, although the pace of deaths slowed in Arizona and Florida. The concerns were reflected in equity ...

Abu Dhabi / WAM The UAE national airline, Etihad Airways, will resume passenger flights from Abu Dhabi to Shanghai, from July 27. “The service will operate with an initial weekly flight using a Boeing 777-300ER, featuring Business and Economy cabins,” the airline said in a statement on Monday. Robin Kamark, Etihad Aviation Group Chief Commercial Officer, said, “We are delighted ...

Dubai / WAM Dubai’s external food trade in the first half of the year totalled nine million tonnes, representing a value of AED32 billion, Dubai Customs announced on Monday. According to the latest trade statistics, Dubai’s food imports touched AED22 billion (6.23 million tonnes), while exports reached AED5.5 billion (2.1 million tonnes) and re-exports amounted to AED4.5 billion (733,000 tonnes) ...

Dubai / WAM Emirates NBD, a leading banking group in the region, delivered a net profit of AED 4.1 billion for the first half of 2020. Net interest income increased 36% y-o-y and non-funded income grew 24% y-o-y with the acquisition of DenizBank in 2019, the bank said in a statement. Total assets at AED 694 billion, up two percent ...

AD DURAYHIMI / WAM The UAE has dispatched an aid convoy containing ten tons of food rations to Ad Durayhimi District, in Yemen’s Al Hodeidah governorate, as part of its ongoing food aid campaign in the country. The assistance – which included food baskets containing staple foods such as rice, flour and cooking oil – reached 3,600 people in the ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has said that the launch of the ‘Hope Probe’ on its historic journey to Mars under the slogan of “Nothing is impossible” constitutes a national and Arab achievement and an advanced Emirati push in the process of building global knowledge in space. In his speech on the ...

Abu Dhabi / WAM The Abu Dhabi Business Centre of the Abu Dhabi Department of Economic Development (Added) is set to launch the ‘Economic Establishments Data Capturing Project’ which is an integrated database that will provide essential information to help investors evaluate developments in the business sector in Abu Dhabi. The data will also be used in the preparation of ...

Ajman / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has said that the journey of the “Hope Probe” to Mars is a key milestone in the history of the UAE and a leading Arab achievement in the modern era, under the slogan, “Nothing is Impossible.” On this national occasion, HH Sheikh Humaid ...