IlluMyFi

The agreement should unlock around $4.7 billion in funding. Economy Minister Luis Caputo spoke after the deal was reached: "I want to make clear this is not a new agreement, we have relaunched the previous one, which was on hold due to the goals not being fulfilled." Agreement was urgently needed. Argentina is battling inflation heading towards 200% and is short of foreign currency reserves. Meanwhile, the IMF loans had been on hold after the previous government missed economic targets linked to the program. The new administration of libertarian President Javier Milei had been locked in talks with the Fund since late last week. Caputo welcomed the new agreement, but also said Argentina shouldn't rely on it: "It's time the country solves its financial problems by solving, as I said at the beginning of this address, its structural problems, which are its addition to the excess of public expenditure and fiscal deficit, as this is what ends up generating all the problems suffered by society." For now the IMF deal looks like a timely win for Milei, who faces daunting economic challenges. He came to power promising to cut spending, slash bureaucracy and free up business. But his program of deregulation is proving divisive on the streets and in Congress, where he lacks the majority needed to drive through reforms.

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12.01.24 05:56

by marketscreener.com

Horizon Aircraft Completes Business Combination with Pono Capital Three, Inc. to...

~ Horizon Aircraft Common Stock to Trade on Nasdaq Under Ticker "HOVR" ~ , (GLOBE NEWSWIRE) -- , doing business as Horizon Aircraft ("Horizon Aircraft" or the "Company"), a hybrid electric Vertical TakeOff and Landing ("eVTOL") aircraft developer, and ("Pono"), a special purpose acquisition company, today announced the completion of the previously announced business combination. Beginning , the combined company will operate as ("Horizon Aircraft") and the common shares and warrants will trade on the under the ticker symbols "HOVR" and "HOVRW", respectively. , Founder, Chief Executive Officer and Chairman of the , and the current management team including Jason O'Neill, Chief Operating Officer, , Chief Engineer, and , Chief Financial Officer, will continue to lead Horizon Aircraft. , Chief Executive Officer of Horizon Aircraft, commented, "I am proud and honored by Horizon Aircraft's achievement of this significant milestone as we embark on our journey as a publicly traded company. This evolution will serve as a catalyst to accelerate our growth by providing the resources to continue the development and testing of our practical, real world use hybrid eVTOL, the Cavorite X7. We are thankful for the Pono team's continued collaboration, support, and conviction throughout the transaction process." , CEO of Pono, added, "The Pono team is excited to have successfully completed this business combination with Horizon Aircraft. We are eager to see Brandon and the Horizon Aircraft team successfully execute their long-term operational and strategic objectives, building value for shareholders and stakeholders alike as they continue to develop a differentiated aircraft that will become dominant in the advanced air mobility space." About Horizon Aircraft Horizon Aircraft is an advanced aerospace engineering company that is developing one of the world's first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon's unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visit www.horizonaircraft.com for more information. About Pono is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Pono's units started trading on the Nasdaq Global Market on , under the ticker symbol "PTHRU." The Class A common stock trades under the symbol "PTHR" and the warrants under the symbol "PTHRW," respectively. The information in this press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 with respect to the proposed...