News

Bloomberg The debate over whether the World Trade Organization (WTO) has the authority to rule on disputes involving countries’ national security was put to rest, setting up a battle with the US, which has asserted the Geneva-based body doesn’t have the standing to make such decisions. Russia and Ukraine said they won’t appeal a landmark trade decision in which the ...

Bloomberg The German economy is turning into Europe’s underperformer, with the government now predicting 2019 will see the weakest expansion in six years. Amid slowing global momentum and concerns over Brexit and trade disputes, the economy ministry on Wednesday cut its estimate to 0.5 percent, half the pace previously forecast. It’s the latest in a series of downward revisions from ...

Bloomberg As fears grow that T-Mobile US Inc.’s Sprint Corp. merger will be quashed by regulators, Chief Executive Officer John Legere is leading a personal crusade to rescue the deal. The CEO, known for his straggly hair, magenta T-shirts and Twitter antics, has made frequent trips to Washington since the proposed combination was announced in April of 2018. And he’s ...

Bloomberg Fawaz Alhokair Group, the Saudi retailer that owns the franchise for brands like Banana Republic and Zara, may raise as much as $1 billion from the share sale of its malls unit in what would be the kingdom’s biggest initial public offering in five years. Arabian Centres Co. said Tuesday that it will sell 65 million existing shares and ...

Abu Dhabi / Emirates Business Citi announces the opening of its new offices at the Abu Dhabi Global Market (ADGM), Abu Dhabi’s international financial centre. HE Ahmed Ali Al Sayegh, ADGM Chairman, attended the inauguration ceremony, joining Citi executives David Livingstone, CEO for Europe, Middle East and Africa; Atiq Rehman, CEO for Middle East and Africa; and Elissar Farah Antonios, ...

Dubai / Emirates Business Air conditioning and commercial refrigeration major, Blue Star Limited’s wholly owned subsidiary in Dubai, Blue Star International FZCO, through its subsidiary Blue Star Systems and Solutions LLC, announced the inauguration of its new office and its first state-of-the-art flagship showroom in Dubai. Blue Star International FZCO, headquartered in Dubai, manages the international business operations of Blue ...

DUBAI / WAM Emirates Airline and Ghana’s Africa World Airlines (AWA), have announced a one-way interline agreement whereby Emirates customers can connect onto selected routes of Africa World Airlines’ network, opening up new African destinations for Emirates customers from May 2019. “The agreement between Emirates and Africa World Airlines underpins our commitment to provide greater connectivity across West Africa. This ...

Dubai / WAM Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, rang the market-opening bell on Tuesday at Nasdaq Dubai to celebrate the listing of $1 billion conventional bond. The capital raised by the issue supports Emirates NBD’s regional and international business across diverse services including retail, wholesale and investment banking, private banking, asset management, global ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, discussed ways of reinforcing the economic and commercial ties between the UAE and the Czech Republic, as well as partnership opportunities and the exchange of expertise between their public and private sectors, to serve their economic goals. The discussion took place during a meeting between Al Mansouri and ...

DUBAI / WAM Over 600 professionals and executives from across 25 countries across the globe will take part in the 9th edition of FAHR International Conference, kicking-off on Wednesday in Dubai. Themed ‘Fourth Industrial Revolution Human Capital Challenges’, the conference is a unique annual gathering, bringing together leading HR experts from the public and private sector as well as, regional ...