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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 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 ...

Abu Dhabi / WAM Mubadala Healthcare and Strata Manufacturing (Strata) – Mubadala’s composite aero-structures manufacturing company – are collaborating to manufacture essential medical supplies and support the fight against Covid-19, utilising additive manufacturing to produce intubation capsule, face shields and ear guards. The cooperation is part of Mubadala’s #WeAreDedicated campaign aimed at fostering collaboration across diverse enterprises and sectors to ...

ABU DHABI / WAM ZonesCorp announced the opening of a factory that produces liquefied carbon dioxide, which is widely used in several food and manufacturing industries. Launched by Al Ghaith Industries within the Industrial City of Abu Dhabi I (ICAD I), the new facility covers a total area of 100,000 square metres and has a total production capacity of 60 ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has congratulated UAE citizens and residents on the occasion of Eid al-Fitr. HH Sheikha Fatima urged the public to adhere to the country’s precautionary measures to preserve their ...

ABU DHABI / WAM The United Arab Emirates on Thursday sent an aid plane carrying seven metric tons of medical supplies to Union of the Comoros. The aid will assist approximately 7,000 medical professionals as they work to combat the Covid-19 pandemic. Commenting on the aid delivery, Saeed Mohammed Saeed Al Maqbali, UAE Ambassador to Union of the Comoros, said, ...

DUBAI / WAM KPMG released the results of its fifth edition of the ‘GCC listed banks’ report, which analyses the published results of listed commercial banks across the region for the year ended December 31, 2019. The report, titled ‘New Age Banking’, has found that the UAE’s top ten banks reported positive results in 2019, with an average 13.9 percent ...

Bloomberg A Total SA-led liquefied natural gas project in Mozambique will receive commitments for about $15 billion of financing at a signing scheduled in June, marking rare progress for such a project as companies scrutinise costs. The first and most significant phase of the financing commitment for the LNG project — which will be Africa’s biggest private investment yet — ...

Bloomberg Chinese authorities are planning to write the country’s national security law into Hong Kong’s charter, the news site HK01 reported, in what would be a dramatic escalation of Beijing’s efforts to rein in dissent in the city. China’s lawmakers were preparing to pass a measure in their upcoming session that would require the former British colony to enact a ...

Bloomberg The euro-area economy started to claw its way out of its deepest downturn ever as the relaxing of coronavirus lockdowns allows thousands of businesses to reopen. The big question is how long it stumbles along at the bottom before a meaningful recovery starts to take shape. While a report from IHS Markit on Thursday offered some hope, it also ...