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Bloomberg Argentina will improve the terms of its offer to restructure $65 billion of overseas bonds after the country defaulted on interest payments. Economy Minister Martin Guzman didn’t give any details on his plans in an interview at his office, but said discussions with creditor groups continue. The latest proposals from bondholders have shrunk the gap between the parties’ positions, ...

Bloomberg Organisers of the New York auto show who had postponed the event to August are now calling it off for this year. “Because of the uncertainty caused by the virus, we feel it would not be prudent to continue with the 2020 show,” Mark Schienberg, president of the Greater New York Automobile Dealers Association, said in a statement. The ...

Bloomberg Memorial Day marks the start of the prime season for theme parks. From now through Labour Day, they typically welcome the lion’s share of guests and generate most of their annual revenue. But the coronavirus pandemic has left Six Flags Entertainment Corp., Cedar Fair LP and SeaWorld Entertainment Inc., three of the world’s largest theme-park operators by attendance, with ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) said that the bonuses distributed to Emirati owners of Dubai taxi plates over the past 10 years under the orders of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai have exceeded AED1.5 billion. Mattar Mohammed Al Tayer, Director General ...

Bloomberg Beijing is accelerating its bid for global leadership in key technologies, planning to pump more than a trillion dollars into the economy through the rollout of everything from wireless networks to artificial intelligence. In the masterplan backed by President Xi Jinping himself, China will invest an estimated $1.4 trillion over six years to 2025, calling on urban governments and ...

LONDON / WAM Biopharmaceutical company, AstraZeneca, said on Thursday it had received the first agreements to supply at least 400 million doses of the Covid-19 vaccine it is developing with the University of Oxford, reported Reuters. The British drugmaker said it has a total capacity sourced for one billion doses through 2020 and into 2021, and continues to increase capacity ...

Bloomberg Oil was headed for its longest run of daily gains since February 2019 after a drop in US crude stockpiles added to signs that the market is starting to balance. West Texas Intermediate futures rose for a sixth day in New York to near $34 a barrel. American inventories fell for a second week, and there was a record ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) joined the Arab Coordination Group (ACG) Institutions’ $10 billion commitment to help developing countries respond to the Covid-19 pandemic and help their economic recovery. The support, agreed at a virtual ACG meeting, will initially focus on helping developing countries obtain the medical supplies and protective equipment they need. It will ...

DUBAI / Emirates Business Emirates has unveiled multi-faceted measures for employee and customer care at every step of the travel journey, redefining safety and hygiene standards on board and on the ground. The new measures took effect, with the resumption of regularly scheduled passenger flights to nine destinations. “Emirates is implementing a comprehensive set of measures at every step of ...

Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) announced the operation of three mobile medical waste incinerators in Abu Dhabi to support the precautionary measures taken by various healthcare entities to prevent the spread of novel coronavirus outbreak. The incinerators are operated at Al Mafraq Hospital and the recently launched field hospitals in Abu Dhabi including the field hospital ...