Bloomberg J Sainsbury Plc got some breathing space from better-than-expected profit after the collapse of a 7.3 billion-pound ($9.5 billion) deal to acquire Walmart Inc’s Asda. The grocer’s shares rose as much as 6.4 percent as the company laid out its Plan B for fighting the UK’s supermarket wars alone. Sainsbury said it will invest in improving its stores, where ...

Bloomberg Saudi Arabian budget airline Flynas LCC plans to open a hub in West Africa or the Balkans within five years to expand beyond its oversupplied domestic market, according to the airline’s chief executive officer. “Since we are a short-haul carrier, we seek to link those hubs with the current hubs in Saudi Arabia,” CEO Bander Al-Mohanna said in an ...

Dubai / Emirates Business Italy’s leading apparel fashion brand is set to release its Spring/Summer 2019 collection for men, women as well as kids across its stores in the UAE. For women, making a big comeback this summer from OVS are suits with oversized jackets, the new trench in both traditional beige gabardine and in bright check prints. When it ...

Bloomberg Qantas Airways Ltd Chief Executive Officer Alan Joyce committed to stay on for at least three more years, extending his tenure to the planned start of groundbreaking non-stop flights halfway round the world. A spokesman for the Australian airline confirmed a report in the Sydney Morning Herald that said Joyce, 52, made the pledge at the request of the ...

Bloomberg Amid all the precariousness of Brexit and talk of the death of the high street, a humble clothing seller counters the pessimism as one of the UK’s best-performing blue chips of 2019. Next Plc shares are up 44 percent year-to-date, the second-biggest gainer on the benchmark FTSE 100 index. The stock held onto those gains as the company said ...

Bloomberg London Heathrow, Europe’s busiest airport, saw off an attempt by environmental groups to block construction of a third runway that it says is needed to boost flights and compete with rival hubs trying to steal its traffic. Construction, which was challenged by Friends of the Earth, London Mayor Sadiq Khan and other groups after the UK government approved the ...

SHARJAH / WAM The Sharjah’s 2018 non-oil GDP hit AED89 billion, according to an analytical report on the results of Sharjah’s economy in 2018 issued by Sharjah Economic Development Department (SEDD), with all non-oil sectors accounting for 91.9 percent of the GDP. The report indicated an increase in the volume of general production in the emirate in 2018 to about ...

MANAMA / WAM Investcorp on Tuesday announced that its US-based real estate investment team acquired a portfolio of eight single-tenant distribution pr-operties in various locations across US for a combined purchase price of approximately $170 million. The properties in the portfolio total 1.4 million square feet and are 100 percent leased. “We are pleased to add these properties to our ...

Bloomberg Abu Dhabi National Oil Co. (Adnoc) is seeking to raise billions of dollars from its natural-gas pipelines, months after the state-owned explorer got a $4 billion investment in its oil infrastructure assets, according to people familiar with the matter. Adnoc is speaking to financial advisers about bringing in international investors for the pipelines, which could help raise $5 billion ...

Bloomberg Oil rose as Saudi Arabia signalled Opec and its allies could extend supply cuts to the end of the year, while Venezuela’s opposition leader called for a military uprising. Crude futures added 1.5 percent in New York. Saudi Energy Minister Khalid Al-Falih said that the Organisation of Petroleum Exporting Countries and its partners remain focussed on reducing oil inventories, ...