Bloomberg Thanks to Nestle SA, Starbucks Corp. just came into some serious cash. With the Swiss food giant agreeing to pay the coffee chain $7.15 billion for the right to sell Starbucks coffee products at retailers, shareholders can expect to receive their portion of the proceeds via buybacks and dividends. But the company will also funnel investment into its two ...

Bloomberg Southwest Airlines Co. intends to offer island-hopping flights within Hawaii after it ramps up service to the state from California, boosting the competitive threat to Hawaiian Airlines. Inter-island flights will “eventually” be added to complement new service from the US mainland, Southwest said in a statement. The carrier named San Jose, San Diego, Sacramento and Oakland as the first ...

Bloomberg Mondelez International Inc. is betting that if you pay more for a classy cookie, you’ll eat more of them. The company, which makes Oreos and Chips Ahoy — mass-market baked goods that bear scant resemblance to the products of your mom’s oven — has agreed to buy Tate’s Bake Shop for about $500 million. The fast-growing company started as ...

DUBAI / WAM Dubai Holding has announced that it will invest up to AED1 billion over the next five years to launch a next-generation digital bank for the UAE, with plans to expand services across the Middle East and North Africa region. The announcement is in line with the UAE’s goal of becoming a cashless digital economy, guided by the ...

Dubai / Emirates Business Siemens Postal, Parcel and Airport Logistics (SPPAL) opened a new MindSphere Application Center (MAC) in Dubai to further expand its digital portfolio. The MAC is used to develop future-oriented analytics and IoT solutions for airports, airlines, cargo service providers and ground handlers. The MAC in Dubai is part of the global network of a total of ...

ABU DHABI / WAM Abu Dhabi’s total trade with Saudi Arabia amounted to AED1.4 billion during January, an increase of 3.7 percent over the same month 2017. According to Statistics Centre — Abu Dhabi figures, the Kingdom of Saudi Arabia comes on top of Arab and Gulf countries with the largest trade volume with the Emirate of Abu Dhabi, accounting ...

ABU DHABI / WAM Aldar Properties has announced that it reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth AED3.7 billion, in one of the largest real estate acquisitions in the country’s history. Aldar has acquired assets located in key destinations, with a focus on Saadiyat Island. This comprises ...

DUBAI / WAM Dubai Investments has announced strong Q1 financial results, announcing that net profit increased by 25% to AED362 million as compared to AED289 million for Q1 2017. Khalid bin Kalban, Managing Director and CEO of Dubai Investments, said, “Dubai Investments is pleased to announce strong Q1 results which has been driven by the strategic acquisition of additional 50% ...

TOKYO / WAM An Abu Dhabi delegation to Tokyo, headed by Abu Dhabi Investment Office of the Department of Economic Development (DED), held a coordination meeting on Monday in Tokyo. The delegation conducted a series of bilateral meetings between the participating bodies with Japanese investors and businessmen in order to familiarise them with the best investment opportunities that the government ...

Abu Dhabi / WAM Abu Dhabi Ports signed a 30 year concession agreement with Mediterranean Shipping Company (MSC), a Swiss-based leader in global transportation and logistics, to establish a new container terminal in the UAE located at Khalifa Port. The new terminal will benefit from Khalifa Port’s advantages as one of the region’s most technologically-advanced ports and one of the ...