Managua center and a generator of services for the majority of the nation. The city, with a population exceeding one million inhabitants, houses many large national and international businesses. It is home to many factories which produce diverse products. Multinational companies such as Wal-Mart, Telefonica, Union Fenosa, and Parmalat have offices and operations in Managua. The city's chief products include beer, coffee, pharmaceuticals, textiles, shoes, matches, construction products, etc. Her main trading products are beef, coffee, cotton, and other crops. Managua is also Nicaragua's main political, social, cultural, educational and economic hub. At the same time, the city is served by
Managua Somoza García and his family (1936–1979), the city was rebuilt and began to grow rapidly. New government buildings were erected, industry developed, and universities were established. The city's development caught the attention of Irving Fields and Albert Gamse, who composed a musical piece about the city that became popular in the 1940s through the performances of Freddy Martin, Guy Lombardo and Kay Kyser. Managua had become Central America's most developed city. Today's references differentiate the pre-1970s Managua by labeling it as "La Antigua Ciudad," which in English translates to "The Ancient City" or "The Old City". Managua's progress came to