Bloomberg The Federal Reserve can “sit back” and allow the economy to keep growing because there are no signs of overheating, said Federal Reserve Bank of Atlanta President Raphael Bostic. “The economy is doing fine,” he told the Rotary Club of Atlanta. “There is not a lot that we have to do to stimulate or slow down. We’re not seeing ...

Bloomberg London’s Heathrow airport has deployed a system designed to block drones entering its airspace following a string of recent attempts that threatened Europe’s busiest travel hub. The airport, classified as a flight restriction zone by authorities, is now using a product manufactured by France’s Thales SA to detect and identify drones. The French company declined on Tuesday to detail ...

Bloomberg Vietnamese conglomerate Vingroup JSC is abandoning plans to launch Vinpearl Air so it can focus on other businesses, including electric vehicle manufacturing. “The aviation market of Vietnam has a lot of potential and is developing strongly, but it also has large companies already in operation,” Vingroup Vice Chairman Nguyen Viet Quang said in an email statement. “Vingroup’s strong investment ...

Bloomberg Chow Tai Fook Jewellery Group Ltd said it plans to shut about 15 of its Hong Kong stores after their leases expire this year, in a sign that major retailers are starting to withdraw from the city’s economy as anti-China protests continue. In the first significant pullback by a luxury retailer after months of fiery demonstrations that have driven ...

Bloomberg With UK airline Flybe Group Plc teetering on the brink of collapse, prime minister Boris Johnson faces a dilemma. Should the government stick to its long-held policy and let market forces take their course, or step in and help Flybe owners including Virgin Atlantic Airways and private-equity firm Cyrus Capital with a rescue? The decision would normally be a ...

Bloomberg Shares of Ryohin Keikaku Co tumbled 19%, the most on record, after the Muji operator cut its profit forecast, citing uncertainty in its East Asian operations. The retailer of everything from furniture to clothing and food lowered its full-year operating profit target 17% to 37.8 billion yen ($343 million). It reported third-quarter operating profit of 9.2 billion yen versus ...

Abu Dhabi / WAM Abu Dhabi Distribution Company (ADDC) – a subsidiary of Abu Dhabi Power Corporation, ADPower – illustrated a number of its most advanced initiatives at Abu Dhabi Sustainability Week (ADSW) 2020, reinforcing its firm commitment to driving sustainability within its operations and customer base, and accelerating the emirate’s progress alongside the UAE’s sustainability goals. Commenting on the ...

DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Silicon Oasis Authority, (DSOA) on Monday laid the foundation stone for the W Motors Automotive Facility at the Dubai Silicon Oasis, UAE, the first manufacturing facility of its kind in the Middle East, with an investment of AED370 million. The groundbreaking event was also attended by ...

DUBAI / WAM Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA), region, on Monday announces that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in his capacity as the Ruler of Dubai, has enacted the Employment Law Amendment Law No. 04 ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, presented awards to the 10 winners of the Zayed Sustainability Prize with the participation of a number of world leaders, at the Prize’s annual awards ceremony on Monday, coinciding with the start of Abu ...