Saudi Arabia raised 1.5 billion euros on Wednesday in a two-tranche bond deal after receiving orders for more than 3.75 billion euros, a document showed.
By Reuters Staff
(Adds Lowe’s comment, details)
SYDNEY, March 15 (Reuters) - Australia’s central bank is doing what it can to support the economic recovery from the coronavirus pandemic and will maintain policy settings until it meets its employment and inflation goals, Governor Philip Lowe said on Monday.
Australia has been one of the world’s success stories in its handling of the pandemic and has quickly emerged from its first recession in three decades with annual economic output already near striking distance of pre-pandemic levels.
The number of people in jobs has also almost returned to levels before the pandemic and “Australia is doing much better than most other advanced economies” across a range of indicators, Lowe said in Melbourne.
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DUBAI (Reuters) - UAE agriculture technology start-up Pure Harvest Smart Farms has raised $50 million via sukuk, or Islamic bonds, the first time an early-stage company in the region has secured venture capital through debt on the market, its chief executive said on Monday.
It also raised $10 million in equity capital in January, founder and CEO Sky Kurtz told Reuters.
The combined $60 million capital will be used to build two “high-tech hybrid greenhouses” in the United Arab Emirates to produce tomatoes, currently the firm’s main product, and leafy greens in year-round warmth and sunshine.
The financing will also allow the company to retrofit an existing facility for berry production in the UAE and build a tomato production facility in Saudi Arabia in partnership with the National Agricultural Development Company (NADEC), 20% owned by Saudi Arabia’s Public Investment Fund.
By Reuters Staff
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March 15 (Reuters) - Walmart Inc’s Canadian arm said on Monday it would invest more than C$500 million ($400.06 million) this year to refurbish its stores.
Walmart Canada said the plan was expected to create more than 2,000 construction jobs in the country. ($1 = 1.2498 Canadian dollars) (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)
Electricity retailer Griddy Energy LLC on Monday became the third Texas power company to file for Chapter 11 bankruptcy over enormous bills for electricity during last month's deep freeze.