Bloomberg Airbus SE shares tumbled following a report that the US Department of Justice has officially started an investigation into the European planemaker in parallel with British and French bribery probes. The stock fell 4.4 percent, the biggest drop in 2 1/2 years. Le Monde reported that Airbus was informed at the end of the summer about the move by …
Read More »Bloomberg When it comes to online orders this Christmas, US consumers are spending more than ever before. Shoppers shelled out a record $110.6 billion online between November 1 and December 19, about $17 billion more than in the same period last year, data from Adobe Analytics show. Half of website traffic this year came from shoppers on the go using …
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Bloomberg It wasn’t that long ago that retailers looking for space at shopping centres would get paperwork only for a multiyear lease. These days mall land-lord Macerich Co. is offering 180 days. Last month, Macerich launched BrandBox, a leasing programme that allows online sellers to dip their toes into the bricks-and-mortar universe with a temporary pop-up store. The first one, …
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ABU DHABI / WAM The UAE maintained its lead in attracting the highest amount of foreign direct investment (FDI) inflows to the Arab region in 2017, according to a top official at the Ministry of Economy. “The UAE was recipient of 40 percent of FDI inflows into Arab and Western Asian countries and 23.3 percent of FDIs directed to Middle …
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Dubai / Emirates Business The Middle East and North Africa (Mena) region is home to some of the most exciting projects markets in the world. With an estimated $3.5 trillion worth of projects planned across the region, the pipeline of future projects is vast. Data from Meed Projects show that construction, which covers private real estate and public buildings, represents …
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Dubai / Emirates Business HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council (DFZ Council), noted that Dubai’s free zones have made a significant contribution to the growth of non-oil trade. Free zone trade in Dubai hit AED394 billion in first nine months of 2018, accounting for 41 percent of emirate’s total trade during the …
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Bloomberg The richest people on earth lost $511 billion this year after record first-half gains were obliterated by a succession of bruising market selloffs. Global trade tensions and worries about a US recession dragged markets lower at year-end. It’s only the second annual decline for the daily wealth index since its 2012 debut, and represents a sharp about-turn from the …
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Bloomberg The Trump administration outlined plans for selling drilling rights on every acre of the Arctic National Wildlife Refuge’s coastal plain, despite acknowledging potential oil spills and impacts to polar bear and caribou that roam through the region. The Interior Department’s draft environmental impact statement, published online, is a major milestone in the administration’s push to sell drilling rights in …
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Bloomberg Crude drilling increased in American fields even as explorers face the biggest quarterly drop in oil prices since 2014. Working US oil rigs rose by 10 this week to 883, according to data released by oilfield services provider Baker Hughes. More than 100 additional rigs have been deployed across American fields this year. It’s likely one of the last …
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Bloomberg Wartsila Oyj’s East African unit submitted bids for engineering, procurement and construction contracts to develop grid-connected solar farms in Kenya. The East African nation, which has an electricity sup-ply deficit, is boosting production from renewable sources including wind and geothermal as it cuts reliance on expensive diesel-powered plants. There are about 15 utility-scale solar projects announced in Kenya with …
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