Bloomberg The five heirs to Wal-Mart Stores Inc. fortune became $5 billion richer after the world’s largest retailer said it expects US e-commerce sales to surge 40 percent in the next fiscal year. The forecast added 4.5 percent to Wal-Mart shares and pushed the combined net worth of Alice, Jim, Rob, Lukas and Christy Walton to $140 billion, according to ...

Bloomberg Shopify Inc. Chief Executive Officer Tobi Lutke called a short seller that targeted his company a “troll,” in his first public response since being targeted by Andrew Left’s Citron Research recently. Left, who said he had taken a short position in the stock, published a report questioning the sustainability of the Canadian e-commerce company’s growth rate and calling its ...

Bloomberg Chancellor of the Exchequer Philip Hammond poured cold water on the idea that planes would be unable to fly from the UK to the European Union if there’s no deal on Brexit, a favourite theme of opponents of an abrupt departure from the bloc. Britain’s air-traffic controllers currently work under agreements that are part of Britain’s EU membership. When ...

Bloomberg A panel of industry and law enforcement officials couldn’t agree on how civilian drones should be tracked by authorities, adding uncertainty to the push for expanded commercial uses. The advisory committee, established earlier this year by the Federal Aviation Administration, couldn’t reach consensus on key issues, such as what type of drone models should be subject to radio tracking, ...

Dubai / Emirates Business Al Ghurair Properties, the pioneering real estate developer managing commercial, residential, hospitality and mixed use developments, announces a new wave of projects across Dubai, as part of the company’s vision to uplift the property offering in the city. According to reports from real estate agency, JLL MENA, as a result of Dubai’s improving economy, it is ...

RAS AL KHAIMAH / WAM Expo 2020 Dubai will provide an unprecedented platform that will showcase to the world the achievements of the UAE’s creative development process and its constructive role in contributing to the creation of a better future for all mankind, HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah said. ...

Abu Dhabi / WAM The UAE Space Agency has signed a Memorandum of Understanding (MoU), with the Government of the Grand Duchy of Luxembourg, defining a framework for collaboration and the exchange of information and expertise in the fields of space science, research, and technology. The MoU was signed by Dr. Ahmad Belhoul Al Falasi, Minister of State for Higher ...

Ras Al Khaimah / Emirates Business Bank ABC (Arab Banking Corporation (B.S.C.)), First Abu Dhabi Bank PJSC (FAB), and Standard Chartered Bank, acting as the Initial Mandated Lead Arrangers and Bookrunners, successfully closed a debut $350 million 3-year Syndicated Term Loan Facility for The National Bank of Ras Al Khaimah, (RAKBANK). The Facility was signed on October 9 and will ...

Dubai / Emirates Business The Dubai Maritime Cluster Office (DMCO) of the Dubai Maritime City Authority (DMCA) signed Memorandums of Understanding (MoUs) with Germany’s Maritimes Cluster Norddeutschland and Canada’s Vancouver International Maritime Cluster as part of its efforts to develop more strategic partnerships with the world’s leading maritime clusters. The signing ceremony was attended by Hamad Buamim, Director General of ...

Dubai / Emirates Business Cargolux Airlines and Emirates SkyCargo have announced that they will be entering into a codeshare partnership for air cargo transportation. The agreement was signed in Dubai by Nabil Sultan, Emirates Divisional Senior Vice President, Cargo and Richard Forson, President & CEO Cargolux Airlines in the presence of François Bausch, Minister of Sustainable Development and Infrastructure, Luxembourg. ...