Bloomberg Investors shouldn’t fret over the growing list of departing Walmart Inc executives who were involved in tech and innovation, according to Bernstein. Recent departures do not imperil Walmart’s future because “the people Walmart needs to be innovators were never the ones coming from outside,” analyst Brandon Fletcher wrote in a note. Outsiders with their “worldview” aren’t helpful to Walmart ...

Bloomberg United Continental Holdings Inc will stop publishing charts showing the miles needed to obtain tickets through its frequent flyer program, allowing for a wider — and more expensive — range of prices. The move follows a similar decision by rival Delta Air Lines Inc in 2014 to scrap fixed tables in favour of dynamically pricing award tickets. The change ...

Bloomberg Target Corp is boosting its minimum starting wage for the third time in as many years, distancing itself from rival Walmart Inc in a tight labour market. The cheap-chic retailer will move to $13 an hour in June, providing tens of thousands of workers a raise, the company said, without specifying exactly how many staffers would benefit. This follows ...

DUBAI / WAM The smart city concept has the potential to boost the economic development of global cities by over five percent and deliver at least $20 trillion in additional economic benefits by 2026, reveals a a report titled “Role of Smart Cities for Economic Development.” The numbers were released as discussions on the economic impact of smart cities have ...

DUBAI / WAM Dubai Chamber of Commerce and Industry’s representative office in Kenya organised a study mission to Dar es Salaam, Tanzania, which explored business potential within country’s healthcare, manufacturing, agriculture, energy, tourism, and hospitality sectors. The study mission coincided with the 7th East African Health and Scientific Conference where Chamber officials examined new investment opportunities emerging across region. Dubai ...

Bloomberg The market power of corporations is rising across rich economies and could eat into economic growth if the trend intensifies, the International Monetary Fund (IMF) said. Corporate market power increased moderately between 2000 and 2015, with price markups increasing by 8 percent, the IMF said in an analysis accompanying its latest World Economic Outlook. The increase was concentrated outside ...

Bloomberg Oil rose near $70 a barrel in London, a level last breached in November, as global crude supplies tightened while hopes for an end to the US-China trade impasse lifted financial markets. Brent crude’s rapid recovery this year — with the biggest quarterly gain in almost a decade — is a victory for the production cuts made by Opec ...

Dubai / Emirates Business Toshiba announced the Middle East-India launch of its turntable audio system designed to wow music lovers with a blend of the vintage and modern. The Toshiba Turntable–LP 200 with Bluetooth connectivity and bundled with stereo speakers is a fusion of retro and latest digital technology that enables users to listen to music the way it was ...

ABU DHABI / WAM The Federal Authority for Nuclear Regulation (FANR), the nuclear regulator in the UAE, launched a ‘Legal Developee Programme’ designed to train UAE nationals in nuclear law and prepare them for employment at the Legal Affairs Department of FANR. The first-of-its-kind in the UAE, the programme forms a part of FANR’s strategy to build long-term sustainability by ...

DUBAI / WAM Nasdaq Dubai on Wednesday welcomed the listing of a $1 billion Sukuk issued by the Emirate of Sharjah. The Emirate’s total Sukuk value listed on the Middle East’s financial exchange has now reached $3.45 billion. The joint lead managers for the latest Sukuk listing were Arab Banking Corporation, Dubai Islamic Bank, HSBC Bank, KFH Capital Investment Company, ...