Bloomberg Shoprite Holdings Ltd’s decision to sell some properties and lease them back is to free up cash to invest in technology, growing online sales and upgrading supermarkets to offer more fresh food. These are the kinds of investments that “give us very good returns,” Chief Executive Officer Pieter Engelbrecht said in an interview after Africa’s biggest grocer reported first-half ...

Bloomberg South Africa almost doubled the level of funding for the national airline to 16.4 billion rand ($1.1 billion), cash that will go towards supporting a restructuring plan for the technically insolvent carrier. The bailout will be used to service and pay debt previously guaranteed by the state over the “medium term,” finance minister Tito Mboweni said in his budget ...

Bloomberg Airlines are turning to the world’s hardest-hitting disinfectants to rid planes of the coronavirus. Qantas Airways Ltd, Korean Air Lines Co and Singapore Airlines Ltd’s Scoot unit are among carriers that helped evacuate people from the outbreak’s epicenter, the Chinese city of Wuhan, and from a cruise ship off Japan. They’ve stepped up aircraft-cleaning efforts as a result, trying ...

Bloomberg British Airways (BA) became the first major carrier to cut services to Italy following the spread of the coronavirus there, saying it will eliminate 22 round-trip flights to Milan through March 11. BA said that it took the decision following a reduction in demand for travel to the city in the Lombardy region, where the Italian outbreak is concentrated. ...

Bloomberg Papa John’s International Inc fell after the pizza chain reported earnings that suggest little growth for its North American locations this year, along with concerns about the coronavirus that’s quickly becoming a threat to the global economy. While North American same-store sales rose 3.5% last quarter and exceeded analysts’ predictions, the chain isn’t planning on increasing its net store ...

Bloomberg Nestle SA, the world’s largest food and beverage company, told employees to avoid travelling for business reasons until the middle of March to keep from contracting or spreading the coronavirus. The Swiss maker of KitKat and Nespresso capsules “shares global concerns over the spread and impact on public health of coronavirus,” it said. Nestle, which employs 291,000 people worldwide, ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said that data is a key pillar in the strategy to realise the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform the emirate ...

ABU DHABI / WAM As 2020 unfolds, the positive dynamic in January and February is auguring well for the UAE, with new gas finds and a series of mega developmental projects, announced over the past few months, giving multiple shots in the arm for the country’s economy, according to international economists. Several indicators, supported by specialist international reports, show the ...

ABU DHABI / WAM The National, the English-language news outlet based in Abu Dhabi, has been selected by the Google News Initiative as one of the first winners of Google’s GNI Middle East Innovation Challenge. The GNI Middle East Innovation Challenge is a programme that will fund a set of projects across the region that inject new ideas into the ...

Bloomberg Europe kicked into high alert as countries from Italy and Spain to France reported rising numbers of cases of coronavirus, struggling to limit its spread. Vast swathes of the Lombardy and Veneto regions of Italy, stretching from Milan to Venice, remained in a virtual lockdown. Spain kept about 700 guests confined to a Canary Islands hotel as they undergo ...