Bloomberg Kraft Heinz Co could end up as one of the biggest junk issuers if it doesn’t take its debt load by mid-2021. S&P Global Ratings said it could cut the packaged-food company to speculative-grade if it doesn’t boost earnings, pay down some of its more than $30 billion of long-term debt, or both. Roughly two-thirds of those borrowings currently ...

RIYADH / WAM The joint government services training programme organised by the UAE and Saudi Arabia, titled, ‘UAE-Saudi Capacity Building Programme’, has begun in the Saudi capital, Riyadh. The programme aims to build the capacities of government services employees from the two countries, according to specialised services criteria and as part of their partnership, as represented by the Saudi-Emirati Coordination ...

Bloomberg Donald Trump acknowledged having second thoughts on escalating the trade war with China — only for his top spokeswoman to later say he meant he regretted not raising tariffs even more. White House Press Secretary Stephanie Grisham now says the media misinterpreted Trump’s initial remarks. Trump doesn’t regret starting a trade war but he does have second thoughts on ...

ABU DHABI / WAM Accommodation & Food Services contributed AED32.5 billion in real prices to the 2018’s GDP, a growth of 4.2 percent on year, according to Federal Competitiveness and Statistics Authority (FCSA). In real (constant) prices, the sector’s contribution to non-oil GDP reached 6.8 percent during 2018, maintaining the high momentum it has created over the past years, driven ...

ABU DHABI / WAM Adnoc Distribution announced that its shares have been certified as Shari’a compliant based on the recent screening assessment made by The Unified Committee of Isla-mic Banks for Shari’a Screening of Equities — UAE. This certification enables brokerage arms of Islamic banks to trade Adnoc Distribution shares. Adnoc Distribution’s Acting CEO, Saeed Mubarak Al Rashdi, said, “We ...

Emirates Business Leading UAE-based technology and sustainability-driven facilities management (FM) company Farnek, has been awarded a five-year contract by Dubai Airports. Farnek, which will mobilise in excess of 800 cleaning staff to fulfil the contract, will be responsible for Terminals 1 & 2, Concourse D, Cargo & Logistics at Dubai International (DXB), as well as Dubai World Central (DWC). “Farnek ...

Ajman / Emirates Business The number of businesses choosing Ajman Free Zone (AFZ) to locate their operations continues to increase in the first six months of 2019 with 8.23 percent. The total number now stands around 8000. In addition to this, there to 91 percent of those companies who were contractually obliged to re-new, with the demand for business offices ...

DUBAI / WAM The Dubai International Financial Centre (DIFC) Courts released its figures for the first half of 2019, with a total volume of 463 cases across all divisions for the first six months of 2019, a 25 percent increase from the first half of 2018. The English-language common law courts continued to assist global businesses resolve their largest and ...

ABU DHABI / WAM The number of road traffic deaths in the UAE has fallen by 34.2 percent in five years, down from 712 in 2014 to 468 in 2018, according to statistics released by the Ministry of Interior. Statistics also indicate that the number of serious traffic accidents decreased by 24.1 percent, down from 4,895 in 2014 to 3,712 ...

DUBAI / WAM To mark the 150th anniversary of the birth of Mahatma Gandhi on October 02, Emirates Post has issued a commemorative stamp to honour the life and times of India’s most influential leader. Gandhi played a crucial role in the development of India and notably led the country to independence through non-violent protest. Commonly referred to as the ...