News

Bloomberg Argentina’s largest creditors sent Alberto Fernandez’s government new counteroffers in an effort to reach a $65 billion restructuring deal in the coming week. A bondholder group that includes BlackRock Inc., Ashmore Group Plc and Fidelity Investments submitted one of the proposals according to people with knowledge of the matter. Another joint plan was presented in separate statements, one by ...

Bloomberg Italy needs to sell more debt and next week it will target the public, in what may amount to a vote on Rome’s handling of the economic crisis. A four-day auction of inflation-linked bonds aimed primarily at the retail market will begin on Monday, as the government seeks to build on the success of recent sales to institutional investors. ...

Bloomberg Tesla Inc. chosen to locate its second US auto factory in Texas, the blog Electrek reported, citing an unnamed source. The electric-car maker will construct the plant in or near Austin, Electrek said. The Associated Press later reported that Austin and Tulsa, Oklahoma, are finalists for the facility but that no final decision has been made. Elon Musk said ...

Bloomberg On the Greek island of Mykonos, Mayor Kostas Koukas is desperately trying to revive the tourism that is the life blood of the local economy. Koukas, and his counterparts in towns and cities across Europe, are looking to salvage something from the summer season after the coronavirus pandemic brought travel to a standstill. With the disease largely under control ...

Abu Dhabi / WAM Abu Dhabi external foodstuff trade amounted to over AED 4.663 billion during the first quarter of the current year 2020, while the overall weight of the Emirate’s foodstuff trade in the same period reached more than 1.18 million tonnes through 41,430 transactions. Abu Dhabi’s foreign trade distributed from foodstuff to imports at a value of over ...

Bloomberg The outlook for global oil markets has “improved somewhat,” with demand a little stronger than expected and supply reined in by a brutal price crash, the International Energy Agency (IEA) said. World oil production is on track for a “historic decline” this month to the lowest level in nine years, the IEA said in a monthly report. Opec and ...

ABU DHABI / WAM Commercial and Islamic banks operating in Abu Dhabi recorded a total net income of around AED9.6 billion in the first quarter of 2020, according to data issued on Thursday by the Statistics Centre-Abu Dhabi. The net income of traditional banks in Abu Dhabi from interests and investments totalled AED8.5 billion, accounting for 88.5 percent of the ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) distributed 10,000 “Weqaya kits” containing personal protective equipment (PPE) to local communities as part of its support for the UAE Volunteers initiative. The kits, which include masks, gloves and hand sanitisers, were distributed to the elderly, people of determination, and others across 12 locations including 8 community development centres ...

ABU DHABI / WAM Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (Added), held a remote meeting through video conferencing with Kamal R Vaswani, Ambassador of the Republic of Singapore to the UAE, to discuss ways to improve bilateral economic relations between the two parties. During the meeting, both parties explored trade and investment cooperation ...

ABU DHABI / Emirates Business Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has launched a home delivery service to bring everyday essentials direct to customers from select Adnoc Oasis convenience stores in Abu Dhabi. Delivered within 30 minutes through the Talabat app and website, customers can now order more than 1,100 products offered across daily groceries, snacks as ...