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Bloomberg Argentina presented an improved debt offer to restructure $65 billion of foreign bonds in an attempt to reach a deal with its creditors after more than two months of stalled talks. The proposal seeks to reduce creditor losses on the bonds’ principal, increase coupons and shorten bond maturities, according to a release. The latest proposal will include minimum participation ...

Dubai / WAM Dubai’s ease of doing business is expected to improve further following the Dubai Chamber of Commerce and Industry’s announcement that it is cooperating with the Dubai Airport Freezone Authority (Dafza) to connect the digital services of both organisations. Under the terms of the new partnership, companies can register as Dubai Chamber members, or renew their existing membership, ...

Dubai / WAM The Dubai Financial Market (DFM) on Sunday announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday, July 7, with the strict implementation of precautionary measures for the safety of clients and employees. The DFM Trading Floor and Customer Affairs counters were temporarily closed mid-March. The DFM has maintained its ...

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) announced on Sunday that international credit rating agencies Moody’s Investors Service and Fitch Ratings have upgraded its final issuer ratings by three notches to Aa3 from A3 and by two notches to AA- from A, respectively. According to a press release issued by Taqa on Sunday, the ratings represent fourth ...

Bloomberg Alpan Lighting Products, Inc, a US manufacturer of solar lamps, is shifting production from China to Indonesia, joining droves of companies looking to escape higher tariffs triggered by the trade war with the US. PT CDS Asia, a unit of Alpan, will invest $14 million to build a factory in an industrial zone in Central Java, Indonesia’s Investment Coordinating ...

Bloomberg India has set an ambitious timeline for its first potential coronavirus vaccine — from human trials to general use in six weeks. Bharat Biotech International Ltd, an unlisted Indian vaccine maker, received regulatory approval to start human clinical trials for its experimental shot earlier this week and it already has India’s apex medical research body expediting the process. The ...

Bloomberg President Donald Trump marked Independence Day by promising to defeat the “radical left” and boasting of his handling of the coronavirus, even as cases spike in the US. Trump, speaking from the South Lawn of the White House, reprised themes from a speech he delivered in South Dakota the day before, by lashing out at those protesting statues of ...

Bloomberg The UK will plow 800 million pounds ($1 billion) into job centers, in an effort to cope with a wave of unemployment in the wake of coronavirus pandemic. The government will double the number of work coaches to 27,000 to help benefit claimants back into work, with an initial 4,500 hires by October, the Treasury said in a statement. ...

Bloomberg An average of 178,000 workers have been exiting Spain’s furlough program every week to return to their jobs, a sign that the economic recovery is slowly gathering pace in a country that’s expected to suffer one of Europe’s deepest recessions this year. The daily exodus has accelerated as authorities gradually lifted a strict nationwide lockdown that crippled Europe’s fourth-largest ...

Bloomberg Budget restrictions for European Union (EU) member states will apply again after the coronavirus-driven recession is over, European Commission Executive Vice President Valdis Dombrovskis said in an interview with Corriere della Sera. The EU’s stability pact — rules to ensure members pursue sound public finances and coordinate fiscal policy — remains active, Dombrovskis said in the interview, specifying that ...