Bloomberg South Korea’s National Pension Service agreed to restructure 1.55 trillion won ($1.4 billion) of bonds issued by Daewoo Shipbuilding & Marine Engineering Co., helping the world’s largest shipbuilder tide over a payment crisis that had threatened to almost shut the company. An agreement came after Daewoo, the Korea Development Bank and Export-Import Bank of Korea took steps to …
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Bloomberg Singapore home sales surged to the highest monthly total for nearly four years in March, a month in which the government rolled back some property curbs following a three-year slide in prices. Developers sold 1,780 units in March, the most in a month since June 2013 and more than double the 843 sold in the same period last …
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Bloomberg Ant Financial raised its agreed offer for MoneyGram International Inc. by 36 percent as the financial-services company controlled by Chinese billionaire Jack Ma tries to top a competing offer and overcome security concerns. The revised bid is worth $18 a share in cash, up from a previous offer of $13.25, the companies said in a joint statement. The …
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Bloomberg India, the world’s second-biggest consumer of urea, is boosting production of the crop nutrient seeking to end imports in the next five years. The South Asian nation, where agriculture makes up about 14 percent of the economy, produced 24.5 million tons of urea in the year ended March 2016, compared with consumption of around 32 million tons during …
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Bloomberg Chemical companies are preparing for a potentially disruptive Brexit as the UK withdrawal from the European Union threatens an integrated market underpinning more than 40 billion euros ($42 billion) a year in two-way trade. Marco Mensink, director general of the European Chemical Industry Council representing manufacturers such as BASF SE, Akzo Nobel NV and Dupont Co., said the …
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Bloomberg France’s independent presidential candidate Emmanuel Macron, tied with far-right candidate Marine Le Pen in polls before the election, said Germany’s large trade surplus is harmful to the euro-zone economy and called for more balance. “Germany benefits from the imbalances within the euro zone and achieves very high trade surpluses,†centrist candidate Macron said in an interview published on …
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Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, expressed his pride and appreciation for the country’s men who served in its national institutions since its establishment, who carried the message of its development and modernisation, and contributed in important ways to further …
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Dubai / WAM The Dubai Government will issue its last paper transaction by 2021, said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, while attending Smart Dubai’s ‘Future-Now’ event at the Dubai Design District. He instructed the Smart Dubai Office to oversee the ambitious goal. During …
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Abu Dhabi /Â WAM Mubadala Development Company and Eshraq Properties are exploring opportunities for establishing a joint real estate development company in Abu Dhabi following the signing of a Heads of Terms Agreement. The two parties agreed on a range of principles relating to the potential joint venture to jointly develop plots in Abu Dhabi owned by Mubadala on Al …
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DUBAI / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Board of Dubai World Trade Centre Authority (DWTCA) announced the 2016 annual performance of Dubai World Trade Centre (DWTC) as the business surpassed a significant milestone in visitation traffic hosting 3.03 million delegates and attendees to events. The results represent an impressive 11% year-on-year footfall …
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