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Bloomberg Avianca’s dollar bonds are trading at distressed levels following a spate of bad news for Colombia’s biggest airline. Avianca Holdings SA $550 million of dollar bonds due in May 2020 plunged this week, sending the yield to 18.6 percent, from 9.7 percent at the start of the month. The shares also fell to a record low, making them both ...

Bloomberg EasyJet Plc rose after saying it’s taken steps to reduce the impact of air-traffic disruptions this summer, offsetting an expected slump in fares and uncertainty surrounding Brexit. The discount carrier has made changes to optimise scheduling and doubled the number of backup planes on standby, which will help it avoid costly delays and cancellations from air-traffic control strikes and ...

Bloomberg IndiGo, India’s biggest airline, fell the most in a year amid reports its billionaire founders have hired law firms after differences cropped up between them. Rahul Bhatia and Rakesh Gangwal are trying to sort out disagreements about the carrier’s future strategy and clauses in the company’s shareholder agreement, the Economic Times newspaper reported, citing unnamed people close to the ...

Bloomberg At a traditional tailor shop, the kind that’s been around for centuries as an atelier for bespoke suiting, the personal touch has always been vital. Shoppers have relationships with their tailors, who know their style and what they’d want to wear. Now that relationship is getting a technological makeover. Knot Standard, a custom-suit startup backed by more than $25 ...

Bloomberg From Colombia to the North Sea, the Middle East to Texas, the global market for crude cargoes is becoming tighter as supplies grow more constrained and risks to production spiral. Prices for actual barrels from the North Sea, Asia, and the Americas are now trading at the highest in half a decade. Key price spreads that show how urgently ...

VIENNA / WAM The Opec Fund for International Development (OFID) is contributing $50 million to support energy security and economic growth in Pakistan via a participation agreement with the International Islamic Trade Finance Corporation (ITFC). The ITFC and other financial institutions will provide the remaining balance of the syndicated amount that will enable Pakistan’s Ministry of Finance, Revenue and Economic ...

DUBAI / WAM To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce Protection Programme initiative that is set to roll out in September of this ...

DHALA / WAM The UAE, represented by its humanitarian arm, the Emirates Red Crescent (ERC), continued sending relief and shelter convoys to the Yemeni governorates. A humanitarian aid convoy arrived on Saturday in Dhala Governorate loaded with food, shelter, tents, blankets, water tanks and mobile toilets to support the needy people in these areas. Local beneficiaries thanked the UAE, and ...

ABU DHABI / Emirates Business Miral, Abu Dhabi’s creator of destinations, signed two land sales at Yas Bay with Siadah International Real Estate Development LLC, which in its turn plans to develop two residential buildings on the waterfront. Yas Bay – Yas Island’s vibrant new waterfront community to live, work and play, also includes other available residential and commercial plots ...

DUSHANBE / WAM The UAE is deeply committed to fighting terrorism and drying up the sources of its financing and stressed the need for strengthening regional and international multilateral cooperation to address challenges related to terrorism. Delivering the UAE statement before the plenary opening session of the high-level “Conference on International and Regional Cooperation in Countering Terrorism and its Financing ...