Bloomberg Anta Sports Products Ltd is considering a sale of its fitness equipment brand Precor Inc after receiving approaches from potential buyers, according to people familiar with the matter. The biggest sportswear maker in China is working with an adviser for a potential sale of the US business that could fetch about $500 million, said the people, who asked not …
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Bloomberg An order for IndiGo to ground some of its Airbus SE A320neo planes for engine upgrades could impede the expansion of one of the world’s fastest-growing airlines. For every addition to its fleet, IndiGo must ground an A320neo plane that hasn’t had its Pratt & Whitney engines modified, the Directorate General of Civil Aviation (DGCA) said following a series …
Read More »Bloomberg US mall foot traffic rose 2.5% for the latest four-week period from a year earlier, as the Thanksgiving holiday approached, according to Thasos Mall REIT Foot Traffic Index. Growth, as shown by mobile phone usage in malls, had slowed in September and October ahead of the key shopping season. The SPDR S&P Retail ETF fell 1.2%, while the S&P …
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Bloomberg Tesco Plc is hitting back at Amazon.com Inc and discounters that are stealing its lunch by borrowing from the US e-commerce giant’s own playbook. Britain’s largest retailer this month introduced Clubcard Plus, a subscription-based loyalty plan where customers pay a monthly fee to receive special deals. It expands on Tesco’s existing points-based system with a business model more in …
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DUBAI / WAM The Dubai Diamond Exchange (DDE) – a subsidiary of DMCC, the Government of Dubai Authority on commodities trade and enterprise – announced on Monday that it had successfully hosted one of the largest rough diamond tenders ever to take place in the UAE. Stargems – a DMCC-registered international diamond company with interests in all aspects of the …
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ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday announced that it has signed an agreement with Xinfa to supply bauxite from its Guinea Alumina Corporation (GAC), bauxite mine in the Republic of Guinea to the Chinese company for the next five years. Under the agreement, EGA will supply Xinfa with millions of tonnes of bauxite each year from …
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ABU DHABI / WAM Driverless vehicles may hit the UAE roads in 2021 as the UAE is preparing to become the first country in the world to have regulations on autonomous vehicles, a top official told Emirates News Agency (WAM) on Monday. “We will announce first draft of the standards and regulations for autonomous vehicles on Tuesday in the 5th …
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Bloomberg Stocks climbed globally along with US equity futures as investors digested China’s decision to tighten intellectual property rules, a move that may boost the chances of a trade deal between the world’s largest economies. Treasuries and the yen both dipped. All 19 sectors rose on the Stoxx Europe 600 Index and all major markets advanced, from the UK to …
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Bloomberg Bitcoin sank more than 10% to the lowest level in six months, extending last week’s slide past the weekend on concerns about a crackdown on cryptocurrency operations by China. The digital currency plunged as much as 11% from November 22’s close and was trading below $6,600 as of 1:50 pm in Hong Kong, according to Bloomberg composite pricing. It’s …
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Bloomberg The International Monetary Fund (IMF) called on Japan’s government and the Bank of Japan (BOJ) to cooperate more in support of the economy as it cut its 2019 growth forecast for the third time this year amid heightened global risks. Speaking at the conclusion of the fund’s annual mission to review Japan’s economy, IMF managing director Kristalina Georgieva essentially …
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