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Bloomberg Nedbank Group Ltd is leading discussions to restructure South African power utility Eskom Holdings SOC Ltd’s $32 billion debt load, according to people familiar with the talks. The parties met in recent days, and one of the options is to transfer at least 100 billion rand of debt to a special-purpose vehicle that would be overseen by the Public ...

Bloomberg Myanmar’s anti-military protesters plan to hold their largest mass rally yet on Monday after two demonstrators were shot dead this weekend. Shops and businesses are expected to close in solidarity, with the nation’s largest retailer, City Mart, announcing it will shut all of its outlets. The violent crackdown on the largely-peaceful movement risks stunting an already troubled economy. Nearly ...

Sharjah / WAM The Sharjah Entrepreneurship Centre (Sheraa) launched its latest programme, the Sharjah Startup Studio (S3), designed to build enduring businesses that will accelerate the region’s digital transformation and contribute to the growth of the non-oil economy in the UAE. This model provides founders with $30,000 in pre-seed funding and allows them to focus on building a high-quality product, ...

DUBAI / WAM The Roads and Transport Authority (RTA) announced that the AED2 billion improvement project to widen the Dubai-Al Ain Road reached a completion rate of 60 percent. The project is aligned with HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai’s vision for the emirate for the next ...

Abu Dhabi / WAM Under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the International Defence Conference 2021 kicked off on Saturday in Abu Dhabi. For the first time, the International Defence Conference 2021 is being held as a hybrid event. The conference brings together more than 24 experts and specialists in the defence sector, physically ...

Bloomberg The Biden administration singled out a Russian ship for violating US prohibitions on constructing the Nord Stream 2 pipeline from Russia to Germany, clearing the way for a new round of sanctions as part of its effort to stop the nearly-completed project. In a report, the US cited the ship, the Fortuna, and its owner, KVT-RUS. The report also ...

Bloomberg Russian opposition leader Alexey Navalny could be transferred to a prison camp within days after losing an appeal on Saturday of his jailing, which has sparked mass protests and a spike in tensions with the West. The ruling by a Moscow court removes the last legal obstacle to sending Vladimir Putin’s most prominent critic to serve out the term, ...

Abu Dhabi / WAM Major General Staff Pilot Ishaq Saleh Al Balushi, Head of the Executive Directorate of Industries and Development of Defence Capabilities at the Ministry of Defence and Vice Chairman of the Higher Organising Committee for Idex and Navdex, has said that the participation of 900 companies from 59 countries in the current edition of the joint event, ...

Dubai / WAM Dubai International Financial Centre (DIFC) welcomed global payment technology provider Adyen, a company that has a market capitalisation of €66.4 billion and processed over €303.6 billion worth of transactions in 2020. Dutch firm Adyen announced their expansion into the Middle East in November 2020. The company selected the DIFC as the location for its regional headquarters, due ...

DUBAI / WAM Digital connectivity and the changing nature of travel and tourism in the reality of the pandemic were just some of the key themes explored by travel experts, international participants and Official Partners, including Emirates and Etisalat, as Expo 2020 Dubai continued its pre-event programme. Covering key sectors such as mobility, transport and logistics, governance, education and travel, ...