Bloomberg Amazon.com Inc.’s takeover of Whole Foods Markets has shaken the grocery business. Wal-Mart Stores Inc., Trader Joe’s and Sprouts Farmers Market Inc. may be hurting the most so far. Whole Foods’ foot traffic from new shoppers jumped 33 percent in the first week following Amazon’s acquisition, and Wal-Mart regulars accounted for the largest percentage of first-time customers, according to …
Read More »
Bloomberg Canadian grocer Metro Inc. pledged to sell some assets to reduce its financing needs and retain its credit rating as part of a $3.6 billion purchase of pharmacy chain Jean Coutu Group Inc. Metro will pay C$24.50 a share in cash and stock for Jean Coutu, about a 6.1 percent premium to Jean Coutu’s price before the two companies …
Read More »Bloomberg Ryanair Holdings Plc added the fewest number of passengers in six months in September as the first of more than 20,000 flight cancellations prompted by a pilot shortage began to weigh on growth. The customer count rose by 1 million to 11.8 million, Ryanair said Tuesday, the smallest increment since the carrier added 900,000 passengers in March. The 9.2 …
Read More »
Bloomberg There’s nothing even remotely glamorous about sleeping in an airport hotel. But in roughly 18 months, the opening of the TWA Hotel—a 505-room remastering of the spaceship-like Eero Saarinen terminal at New York’s John F. Kennedy International Airport—should change that. New renderings and design plans by MCR Development LLC, the developer and lead investor in the project, reveal exciting …
Read More »
Dubai / WAM The UAE Council of Ministers has adopted Cabinet Decision No.39 of 2017 on Fees for Services Provided by the Federal Tax Authority and Cabinet Resolution No.40 of 2017 on Administrative Penalties for Violations of Tax Laws in the UAE. The council’s meeting was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime …
Read More »DUBAI / WAM The President of Mali, Ibrahim Boubacar Keita, met DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, to discuss a trade and logistics master plan to unlock the resource rich country’s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes, replicating DP World’s successful model with Dubai Trade at its flagship …
Read More »Dubai / Emirates Business More than 400 decision-makers, including government officials and business leaders, will meet in Dubai this week to discuss foreign investment opportunities in Africa during ALN’s (formerly Africa Legal Network) 4th Annual International Conference – ‘Africa: Bridging the Gulf’ from October 4-5 at the Park Hyatt, Dubai, UAE. The invite-only event is set to bring together a …
Read More »
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, on Monday received, in Qasr Al Bahr, Jawaher Saif Al Kumaiti, to honour her humanitarian actions and her bravery, heroism and quick thinking, which saved the life of an Asian driver. The driver was …
Read More »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, on Monday, received Iraqi Foreign Minister Ibrahim Al Jaafari, and members of the official delegation accompanying him, at Qasr Al Bahr. Sheikh Mohamed welcomed the Iraqi Foreign Minister and discussed ways to enhance bilateral …
Read More »
Dubai / Emirates Business Dubai Land Department (DLD), through its educational arm the Dubai Real Estate Institute (DREI), has launched its ‘Urban Thinkers Campus’, which will run from until October 4 as the world’s biggest brainstorming session focused on the future of cities. HE Sultan Butti bin Mejren, Director General of DLD, opened the forum with a welcoming speech that …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.