Bloomberg Intu Properties Plc has written down the value of one of the UK’s largest malls, offering a glimpse at its parlous finances ahead of a planned equity raise. The company notified holders of 485 million pounds ($631 million) of bonds secured against Intu Metrocentre, a large mall in northeast England, that the debt secured against the property now accounts ...

Bloomberg Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, has lost nearly a third of its value since the outbreak of the coronavirus. However, at least one analyst maintains this may be just a blip for the company. The upstart has closed all of its coffee shops in Wuhan, the capital of the Hubei province and the epicenter of ...

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies considered how to respond to a plunge in oil prices, with Russia signaling for the first time it was open to Saudi Arabia’s push for an emergency meeting. Potential dates being discussed are February 8-9 and February 14-15, though for now the next regular meeting on March 5-6 remains ...

ABU DHABI / WAM Abu Dhabi Airports has announced the signing of a cooperation agreement with the Emirates Red Crescent (ERC), to enhance its role in community, charitable and humanitarian initiatives. The new agreement also defines frameworks of cooperation humanitarian services and fundraising and supports relevant government strategies at a local and international level. Under the agreement, Abu Dhabi Airports ...

Bloomberg A $22 billion injection into Chinese markets won’t be enough to prevent the country’s stocks and currency falling on Monday, but it may ease a global sell-off sparked by the spread of the coronavirus. That’s according to analysts after the People’s Bank of China and other regulators announced a slew of measures to shore up their financial markets when ...

DUBAI / WAM The Commercial Compliance and Consumer Protection (CCCP), sector at Dubai Economy announced a 34 percent increase in trademark files and a 127 percent increase in commercial agency files registered in 2019 compared to the previous year. Trademark files registered at the CCCP in 2019 reached 5,157 and 50 commercial agency files were also registered during the same ...

SHARJAH / WAM ION, a UAE-based sustainable and smart transportation company, has partnered with the Sharjah City Municipality (SCM), and the Sharjah Electricity and Water Authority (Sewa), to supply, install and operate public electric vehicle charging stations across Sharjah. The move comes as part of accelerating the UAE’s ongoing electrification of its transportation and supporting the current electric vehicle network. ...

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, received on Sunday, President Mohamed Ould Ghazouani of Mauritania. Ghazouani is on an official state visit to the UAE. The Mauritanian President was accorded an official reception ceremony upon arrival where the Mauritania national ...

Dubai / Emirates Business The Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, on Sunday signed a memorandum of understanding with Emirates Islamic to enhance cooperation, provide organised training programmes and support development initiatives for UAE nationals working in the banking sector. The MoU, signed by Jamal Al Jassmi, General ...

DUBAI / WAM The Ministry of Climate Change and Environment (MOCCAE) on Sunday announced the results of the UAE National Air Emissions Inventory Project. Launched in 2017, the initiative intended to develop the first national-level inventory of emissions in the UAE through identifying the key sources of air pollutants in the country with the aim of formulating strategies to improve ...