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ECB Executive Board member Cipolo Nee: Confidence in enacting legislation for a digital euro by 2026 is “growing daily.”On December 4th, sources familiar with the matter revealed that the restructuring plan for Country Gardens (02007.HK) "H16 Tengyue 2" bond was approved by the creditors meeting. This brings the total number of bonds involved in Country Gardens domestic debt restructuring that have had their restructuring plans approved by creditors, with a total outstanding balance of RMB 13.85828 billion. Regarding the cash prepayment arrangement, i.e., the consent fee, the plan shows that for holders who voted in favor of all proposals at the bondholders meeting, 0.1% of their bonds will be prepaid and cancelled, with all interest waived. Country Gardens adjusted principal and interest repayment arrangement shows that principal repayment has been extended to September 2, 2035. Taking H16 Country Garden 5 as an example, repayment will be made in nine installments starting from September 2, 2031, every six months. The repayment amounts for the first four years are 1%, 2%, 3%, and 4% respectively, and from March 2, 2034, the repayment proportions will be 15%, 15%, 20%, and 30% respectively. Unpaid interest as of September 2, 2025 (the base date) will be recalculated at an annual interest rate of 1%; interest will be calculated at a simple interest rate of 1% per annum from the base date, and the interest will be paid in a lump sum on September 2, 2035.ECB Executive Board member Cipollone: We are ready to respond to any shocks.ECB Executive Board member Cipolo Nee: The economy has shown resilience.ECB Executive Board member Cipollone: Many risks are still brewing.

Protests Shut Down El Feel Oilfield and Zueitina Port in Libya

Charlie Brooks

Apr 18, 2022 09:47

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Since March, when the eastern-based parliament selected Fathi Bashagha to replace Dbeibah, Libya has had two rival administrations, reigniting a deadlock between the country's east and west. Dbeibah has resisted ceding control to Bashagha, who has not yet arrived in Tripoli.


NOC, the state-owned oil corporation, stated in a statement that a group of unidentified individuals infiltrated El Feel's facilities the previous day and blocked staff from working.


Meanwhile, two Zueitina oil engineers told Reuters that demonstrators gained access to the port on Sunday morning, stopping a vessel from loading 1 million barrels.


The demonstrators in Zueitina said in a video statement shared on social media that they would shut down the port and its oil fields unless Dbeibah resigns.


The demonstrators, who identified themselves as a group of Zueitina locals including elders, also demanded the dismissal of NOC CEO Mustafa Sanalla for the company's refusal to deliver oil money to Dbeibah's administration.


According to the finance ministry, the NOC sent $6 billion in oil earnings to the ministry's central bank account on Thursday.


Dbeibah's office did not immediately respond to a request for comment.


According to a statement issued Sunday by the oil and gas ministry, these closures "would undermine NOC's position in global markets as a consequence of its failure to meet its responsibilities."