Bloomberg Concern about Asiana Airlines’ liquidity is rising after two rating firms warned its debt score may be cut to junk due to a lack of transparency in its 2018 financial report. The South Korean carrier’s BBB- rating, the lowest investment-grade level, was put on negative review by both Korea Investors Service and NICE Investors Service after Asiana got a ...

Bloomberg This might sound familiar to Nike Inc investors. The world’s largest sportswear company delivered strong third-quarter earnings, but missed on one important metric: North American sales. The home market dogged Nike for much of 2017 and early 2018, and the latest sales miss sent the shares down as much as 4.3 percent in New York. Third-quarter sales in Nike’s ...

Bloomberg France and Italy, already tussling over everything from immigration to economics, have added sunglasses to their list of grievances. When Ray-Ban owner Luxottica and French prescription lens-maker Essilor completed a $53 billion merger last October, the deal seemed to clear the way for the Italian company’s 83-year-old founder Leonardo Del Vecchio to hand over management duties and start transferring ...

ABU DHABI / WAM Senaat on Sunday announced that it has achieved steady revenue growth in 2018 to reach AED16.3 billion, a 3.5% increase over the previous year (2017 revenue: AED15.7 billion). More notably, EBITDA increased to more than AED2.5 billion in 2018, a 20% increase compared to 2017, reflecting margin enhancement realised by capitalising on market opportunities and through ...

Bloomberg Dubai’s Shuaa Capital PSC started talks for a potential combination with an Abu Dhabi entity, joining a stream of mergers in the Gulf’s financial industry. The shares surged. The investment banking firm formed a working group “to review the commercial potential along with any legal and structural aspects of the transaction” with Abu Dhabi Financial Group, according to a ...

ABU DHABI / WAM The UAE consolidated government revenues increased to AED455.5 billion by the end of 2018, with expenses picking up to AED388.147 billion by the end of the year, creating a surplus of around AED67.5 billion, according to the Ministry of Finance statistics. The consolidated government revenues increased to as much as AED304.5 billion during the first nine ...

Abu Dhabi / WAM Dubai Electricity and Water Authority (Dewa) and the consortium led by Saudi Arabia’s Acwa Power and Silk Road Fund, which is owned by the Chinese Government, annou-nced financial closing of the 950-megawatt fourth phase of Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world. The solar park will produce 5,000 ...

Abu Dhabi / WAM The UAE and Hungary agreed to strengthen their cooperation in the fields of science, technology and innovation. This came as senior representatives of both countries discussed creating new partners- hips in various sectors that will serve their development in areas of trade, industry, investment, renewable energy, insurance, tour-ism, science, technology, telecom- munications, aviation, education, culture and ...

DUBAI / WAM In its eighth year, the Emirates Green Building Council (EmiratesGBC), Congress will host experts and stakeholders from the building and construction industry to discuss the role of a circular economy in promoting sustainable development. Building on last year’s landmark Congress on Net Zero Buildings and Cities, the discussion will focus on how a shift to a circular ...

DUBAI / WAM One Million Arab Coders has launched a new set of coding and programming training courses to diversify and enhance the knowledge and skills of Arab coders, as well as provide them with new employment opportunities for jobs of the future. These courses will train more specialised and professional programmers, graduate a generation of digital experts, and provide ...