Bloomberg Estee Lauder Cos agreed to buy the two-thirds of Have & Be Co, the South Korean owner of Dr. Jart+ cosmetics, that it didn’t already own for about $1.1 billion, its first acquisition of an Asian beauty brand. Founded in 2005 in Seoul, Dr. Jart+ sells moisturisers, masks, cleansers and serums under names like Cicapair and Ceramidin and will …
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Dubai / Emirates Business Emirates, the world’s largest international airline, on Monday announced a firm order for 50 A350-900 XWB aircraft worth $16 billion (AED58.7 billion) at list prices at the Dubai Airshow 2019. Powered by Rolls-Royce Trent XWB engines, delivery of the first Emirates A350 XWB is expected in May 2023, and will continue until 2028. His Highness Sheikh …
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Sharjah / Emirates Business Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), on Monday set another milestone with one of the region’s largest single-aisle aircraft orders of 120 Airbus A320 Family aircraft. This was announced during Dubai Airshow 2019 following a signing ceremony attended by Air Arabia’s Chairman Sheikh Abdullah bin Mohammed Al Thani …
Read More »AL AIN / WAM Strata Manufacturing, the advanced composite aero-structures manufacturing company wholly owned by Mubadala Investment Company, has signed a Memorandum of Understanding with Premium Aerotec, the German aerospace manufacturing leader, for the supply of metallic bonded and ‘computer numerical control’ (CNC) machined detail aircraft parts. The MoU, signed during Dubai Airshow, covers a duration of five years with …
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Bloomberg US stocks slipped along with European shares as doubts about a China trade deal weighed on sentiment, highlighting the fragile nature of recent gains as negotiations drag on. The S&P 500 Index retreated from previous record close amid reports that Beijing is pessimistic about the chances of reaching an accord with the US. The Stoxx Europe 600 Index dipped, …
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Bloomberg Knocked off course by a host of negatives, the Philippine stock rally may be set to regain momentum into year-end on improvement in the domestic economy and corporate profits. The Philippine Stock Exchange index (PSEi) has breached the 8,000 mark 13 times this year only to fall back through, hurt by factors including the US-China trade war and the …
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Bloomberg China lowered the cost it charges on short-term open-market operations for the first time since October 2015, a move aimed at shoring up confidence following a string of poor economic data. The People’s Bank of China (PBOC) cut the interest rate on its seven-day reverse repurchase agreements to 2.5% from 2.55%. The authorities also added 180 billion yuan ($26 …
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Bloomberg HSBC Holdings Plc pointed to routine regulatory requirements to ensure client money is used for stated purposes after a report that the firm is shutting a corporate account that helped fund protest-related activities in Hong Kong — a politically sensitive issue. The bank took action after finding the account was being used inconsistently with its original paperwork, the Hong …
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Bloomberg The Thai baht’s reign as Asia’s best-performing currency is coming under threat from an unlikely source: South Korea’s won. The baht has slumped into the bottom half of the regional rankings this quarter after heading the table for three consecutive three-month periods. The won meanwhile has shrugged off its chronic underperformance and rocketed to the top. The main reason …
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Bloomberg A combination of easing trade tensions and easier monetary policy will lift global growth from the first quarter of 2020, according to economists at Morgan Stanley. Emerging markets will drive the recovery, given the late-cycle stage that US growth is in, they argue. “A 1Q20 recovery is on the cards,†the US bank’s economists led by Chetan Ahya wrote …
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