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Bloomberg Hundreds of high-risk companies in Europe need to repay or refinance nearly $100 billion in the coming months, a prospect that becomes more daunting by the day amid the relentless collapse in credit markets. From Germany’s Thyssenkrupp AG to Telecom Italia, around 600 European high-yield and non-rated bond borrowers have $92.5 billion bonds maturing by the end of 2021, ...

Bloomberg Instagram plans to sell advertisements in IGTV, its home for longer videos, a bid to compete with YouTube for a larger share of the booming market for online video. Instagram started reaching out to its top video creators, asking them to partner on ad tests. Those in the program will receive a 55% share of all advertising in IGTV, ...

Bloomberg Detroit’s three automakers are asking office employees to work remotely while pushing production staff to keep running many of their factories — including one where a worker tested positive for the coronavirus. Fiat Chrysler Automobiles NV’s salaried personnel, including 14,000 at its US headquarters north of Detroit, were told to work from home, a spokesman said. A transmission factory ...

Bloomberg House Speaker Nancy Pelosi and President Donald Trump haven’t spoken in months, but the California Democrat seized the initiative to strike a deal with the White House on a broad measure aimed at helping Americans cope with the spiraling effects of the coronavirus outbreak. After Trump didn’t deliver on a promised announcement of a “major” economic stimulus package, Pelosi ...

ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) the leading national entity for economic development aid, on Wednesday signed an agreement with the government of Maldives to provide funding support to the tune of $50 million (AED184 million) for infrastructure development projects in the Maldives. The agreement was signed by Mohammed Saif Al Suwaidi, ADFD Director-General, and ...

ABU DHABI / WAM Khalifa University of Science and Technology on Wednesday announced the university has once again demonstrated its status as a premier research-intensive institution focusing on the UAE’s strategic sectors by winning nearly half of all the research grants awarded under the 2019 Abu Dhabi Award for Research Excellence (AARE). Khalifa University received a total of 23 out ...

Abu Dhabi / WAM The Abu Dhabi Government launched on Wednesday the ‘Digital Month’ initiative in a bid to further drive the UAE leadership’s vision to utilise information technology to better serve the community and advance government services. The newly launched initiative comes within the efforts exerted by various government entities in Abu Dhabi to enhance customer experience through innovative ...

DUBAI / WAM US Ambassador to the UAE John Rakolta Jr. and Counselor of the Department of State T. Ulrich Brechbuhl have officially inaugurated the construction of the US pavilion at Expo 2020 Dubai, according to a press release issued by the US Embassy website. At the first concrete pour, Ambassador Rakolta said, “The US pavilion will showcase how freedom ...

Bloomberg Prime Minister Shinzo Abe still faces calls to put together another large-scale stimulus to shake off the impact of the coronavirus, despite a second round of emergency measures unveiled on March 10. Most economists see the world’s third-largest economy falling into recession despite the two rounds of measures aimed at helping struggling businesses and workers. With the virus keeping ...

Bloomberg Indonesia is reintroducing a raft of market measures deployed during the global financial crisis as authorities warn the impact of the novel coronavirus outbreak on the markets and the economy will be more damaging. The nation’s only stock exchange tightened trading-halt rules on March 10, with the first suspension kicking in with a 5% slump instead of 10% earlier. ...