Bloomberg JD Sports Fashion Plc agreed to buy US sportswear retailer Finish Line Inc., seeking to snatch away a company in which Mike Ashley’s Sports Direct International Plc has built a stake. The agreement is valued at a total of $558 million. Ashley’s Sports Direct International, a UK rival of JD Sports, is the second-largest shareholder in Indianapolis-based Finish Line, ...

Bloomberg Glitches with Rolls-Royce Holdings Plc engines that have dogged Boeing Co.’s 787 wide-body jet are also an issue for the competing A330neo model from Airbus SE. Rolls-Royce’s Trent 7000 turbine, the only one available on the Airbus plane, shares durability problems afflicting the Trent 1000 from which it was developed, according to people familiar with the matter, who asked ...

Bloomberg Corporacion America Airports SA, the largest private airport operator in the world, is looking at growth opportunities in emerging markets such as Brazil and India, CEO Martin Eurnekian said. The company, which earlier this year raised $486 million when it listed its shares in New York, is already in a bidding process in Jamaica and is actively seeking to ...

Bloomberg Best Buy Co., the large consumer electronics retailer, plans to sever ties to Chinese phone maker Huawei amid US government criticism of the phone maker, a person with knowledge of the matter said. Best Buy follows US mobile-phone carriers AT&T Inc. and Verizon Communications Inc. in distancing themselves from Huawei, which has come under scrutiny by US officials concerned ...

DUBAI / WAM DP World has won a 30-year concession with an option of a further 20-year extension for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC). The Port of Banana will be the first deep-sea port in the country along its small coastline of 37 kilometres, which currently only ...

ABU DHABI / WAM Dubai non-oil external trade with South Korea grew eight percent in 2017 to reach AED27.43 billion, of which AED22.1 billion were in imports, AED 4.47 billion in exports and AED866 million in re-exports, compared to 2016. South Korea is Dubai’s eighth biggest trade partner in imports and ninth in exports. Ahmed Abdul Salam Kazim, Director of ...

ABU DHABI / reuters Abu Dhabi has folded utility Abu Dhabi Water & Electricity Authority (Adwea) into the emirate’s newly established department of energy as part of a consolidation of state-owned entities, a spokesman for the department said on Sunday. The Regulation & Supervision Bureau (RSB), which oversees water, waste water and electricity in Abu Dhabi, will also become part ...

DUBAI / WAM Mashreq Bank received the Service Olympian Award for ‘Best Call Centre 2018’. The award celebrates excellence in customer service delivery. Sumit Bhatia, Head of Direct Business Channel at Mashreq Bank, said, “We are pleased to have been recognised as the Best Call Centre by the Service Olympian Awards. This is a testament to the hard work of ...

Abu Dhabi / Reuters Inflation in the United Arab Emirates eased slightly in February after jumping to a multi-year high in January when the government introduced a 5 percent value-added tax, official data showed on Sunday. The annual inflation rate came down to 4.5 percent last month from 4.8 percent in January, which was the highest level since 2015. Month-on-month, ...

DUBAI / WAM The UAE Food Bank’s Board of Trustees recently approved its strategy of sponsorship privileges. The strategy emphasises the need to allow for the participation of all sectors of society in different categories of sponsorship of thefood bank, especially as the UAE is one of the leading countries in the field of charitable work. Khalid Mohammed Sharif Al ...