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Albanian parliament, IPTP honour Sheikh Zayed

TIRANA / WAM The Albanian Parliament and the International Parliament for Tolerance and Peace (IPTP) honoured the late Sheikh Zayed bin Sultan Al Nahyan in Tirana, Albania. The members of the parliament stood in respect for the UAE Founding Father, in appreciation of his contributions to promoting tolerance and peace around the world, during the second session of the Albanian ...

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Seminar held to foster development of SMEs

ABU DHABI / WAM The National Programme for Small and Medium-Sized Enterprises, the executive arm of small and medium-sized enterprises (SMEs), operating under the umbrella of the Ministry of Economy, organised an introductory workshop, in cooperation with European Business Network of the European Commission. The workshop, which was attended by over 25 representatives of funding institutions and organisations that support ...

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Uber set to resume services in Abu Dhabi

Emirates Business Uber announced on Monday the re-launch of its services in the UAE capital, in collaboration with Department of Transport in Abu Dhabi — represented by the Integrated Transport Centre (ITC) — to offer convenient and reliable transportation solutions across the Emirate with a push of a button. The announcement followed the signing of an agreement between Uber and ...

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Oman merger to create oil refining-to-trading giant

Bloomberg The largest Persian Gulf producer that’s not an Opec member is combining state-run oil investment and refining companies to form a business that spans pumping crude and natural gas to processing and trading fuels. Government-owned Oman Oil Co and Oman Oil Refineries & Petroleum Industries Co (Orpic) named Musab Abdullah Al Mahruqi as chief executive officer of the merged ...

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UK housing woes deepen as asking price tumbles

Bloomberg UK asking prices fell from a year earlier for the first time since 2011, led by declines in London and among the most expensive properties. Asking prices slipped 0.2 percent to 302,023 pounds ($387,000), according to Rightmove. Prices were 1.7 percent lower compared with October, the biggest drop for the month since 2012, the property website said on Monday. ...

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US stocks fall on tech jitters, China trade fear

Bloomberg US stocks were lower, reversing gains from late last week, as investors grew pessimistic about escalating trade tensions between the Trump Administration and China. Treasuries declined, the dollar steadied and gold fell. All major US equity benchmarks fell, led by the Nadaq 100 Index as tech shares slumped. Apple Inc. sank 2.3 percent following reports that it had cut ...

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Pound outlook most bearish since Brexit as May faces crisis

Bloomberg Investors are the most bearish on the pound since the UK voted to leave the European Union as markets brace for the possibility of a no-confidence vote in Prime Minister Theresa May’s leadership. The premium to buy put options on the currency relative to calls is the steepest since June 2016, even with sterling attempting a recovery on Monday. ...

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Boeing steps up airline outreach on 737 Max

Bloomberg Boeing Co. is trying to assuage 737 Max customers concerned about a little-known anti-stall feature that has emerged as a focus of investigators probing a crash in Indonesia last month that killed 189 people. Southwest Airlines, the largest 737 Max operator, American Airlines and United Airlines are among the carriers globally pressing Boeing for details of the formerly obscure ...

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J.C. Penney sales slide as new CEO tries to clean house

Bloomberg As J.C. Penney Co. discounts more merchandise to clear the shelves of slow-moving inventory, investors are hopeful the painful overhaul is nearing its end. The department-store chain, which has been aggressively trying to get the right mix of merchandise in stores, reported a sales contraction in its latest quarter. It also withdrew its prior 2018 earnings guidance, replacing a ...

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Canada Goose turns dressing room into freezer

Bloomberg Canada Goose Holdings Inc. wants its customers to know what real cold feels like—from the comfort of a $1,000 parka. The company is adding frigid rooms to some of its stores where shoppers can test the luxury coats in temperatures as low as -25 degrees Celsius. A Montreal location is the fifth to include the fancy freezer, and Beijing ...

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