May, 2016

• 1 May

  United ex-CEO got $36.8mn after ouster

    Bloomberg Jeff Smisek walked away with $36.8 million in severance and benefits from United Airlines after he was ousted as chief executive officer last year. Smisek, 61, received about $6.6 million in cash plus equity awards valued at $29.4 million, according to a proxy statement filed by Chicago-based United Continental Holdings Inc., the airline’s parent. He resigned as president, ...

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• 1 May

  Bombardier family digs in heels on dual-class shares matter

  

    Bloomberg Bombardier Inc.’s founding family is rejecting demands by Canada’s government to loosen its control of the company in exchange for financial assistance. “It’s not our intention to change anything in this regard,” Bombardier Chairman Pierre Beaudoin said in Montreal. Prime Minister Justin Trudeau’s government is said to be pushing for corporate governance changes, including the dual-class structure that ...

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• 1 May

  German retail sales dips in March by 1.1pc

  

    Frankfurt / AFP German retail sales, a closely watched measure of household confidence, declined in March, official data showed last week. Retailers’ sales fell by 1.1 percent in March compared with February, the federal statistics office Destatis said in a statement. The previous month, retail sales had remained unchanged. On a 12-month basis however, business increased, edging up by ...

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• 1 May

  Casino sells Vietnam unit to Central Group for $1.1bn

  Bloomberg Casino Guichard-Perrachon SA agreed to sell Vietnam’s Big C grocery chain to Central Group at an enterprise value of €1 billion ($1.1 billion), extending an Asian divestment programme aimed to reduce the French retailer’s debt. Casino will receive €920 million in proceeds, the St. Etienne, France-based company said in a statement last week. The disposal will bring the total ...

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• 1 May

  Scandal-plagued Rome is now becoming a ‘do it yourself’ city

  

    Rome / AP Armed with shovels and sacks of cold asphalt, Rome’s residents fill potholes. Defying rats, they yank weeds and bag trash along the Tiber’s banks and in urban parks. Tired of waiting years for the city to replace diseased trees, neighbors dig into their own pockets to pay for new ones for their block. Romans are starting to ...

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• 1 May

  Gallery of fake paintings opens to public in Argentina

  

    Buenos Aires / AFP The paintings in Buenos Aires’ newest gallery may look like the work of great artists, but they are actually rip-offs — and the exhibition’s organsers want you to know it. One of the works doesn’t even look the part — it is supposed to be a masterpiece by the late Argentine painter Antonio Berni, but the ...

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• 1 May

  Berlin cracks down on online rental portals to cool market

  

      Berlin / AFP Berlin has began restricting private property rentals through Airbnb and similar online platforms, threatening hefty fines in a controversial move meant to keep housing affordable for locals. The German capital fears that the growing trend of people letting out apartments to tourists through sites such as Airbnb, Wimdu and 9Flats is cutting into a limited property ...

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• 1 May

  Providing artists the platform they deserve

  

    Sunaina Rana/ Emirates Business Envie Events produces, organises and promotes some of the most spectacular, immersive and innovative Dance Music Events in the Middle East. With over 25 years of combined experience in the entertainment, hospitality, and nightlife industry, the company’s events captivate tour senses and inspire a unique level of fan interaction being enhanced by state-of-the-art lighting, pyrotechnics ...

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• 1 May

  Serafino Consoli: Penchant for luxury, exceptional quality

  

    Our Correspondent / EMIRATES BUSINESS Serafino Consoli has been a leader in the world of fine jewellery for over 50 years and is found in some of the world’s most beautiful locations. The maison’s revolutionary approach combines innovation with the finest of Italian goldsmithing traditions to create jewellery that is both unique and individual. The fine jewellery maison has ...

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April, 2016

• 30 April

  DSOA 2021 strategy for growth approved

  

    DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority ( DSOA ), the regulatory body for Dubai Silicon Oasis , the integrated free zone technology park, approved the DSOA 2021 Strategy, which is based on UAE Vision 2021 and the Dubai Plan 2021 that provide an enabling operational framework for government entities ...

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