March, 2016

• 26 March

  GameStop forecasts revenue below estimates; shares fall

  

  Reuters GameStop Corp, the world’s largest retailer of video games, forecast first-quarter revenue below analysts’ estimates, blaming a lack of major videogame releases and weaker hardware sales. The company’s shares were down 5.6 percent at $28.55 in after-market trading this week. They had declined as much as 8.3 percent earlier. GameStop’s sales have been languishing as videogame publishers such as ...

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• 26 March

  Latam, Avianca cut deeper into junk by Fitch amid economic woes

  

  Bloomberg Latam Airlines Group SA and Avianca Holdings SA were both downgraded further into junk territory by Fitch Ratings, which said that the economic slowdown in the region will be an obstacle for them to cut debt. Fitch cut Latam’s long-term foreign currency credit grade one step to B+, four levels below investment grade. The outlook for the Santiago-based carrier ...

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• 26 March

  Irish regional airline CityJet sold to private investors

  

  DUBLIN / Reuters Founder Pat Byrne and private equity backers have repurchased Irish regional airline CityJet from German owners Intro Aviation for an undisclosed sum, the company has recently announced. The regional airline, which carried around 2 million passengers last year, was bought from Air France-KLM in 2014 by Intro Aviation. CityJet operates eight routes into the small London City ...

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• 26 March

  UK retailer Next warns of ‘toughest year’ since crisis

  

  Bloomberg Next, one of Britain’s biggest fashion retailers, warned that 2016 was set to be its toughest year since the global financial crisis, sending its share price tumbling. “The year ahead may well be the toughest we have faced since 2008,” chief executive Simon Wolfson said in the company’s annual results statement as Next slashed its sales forecast. “We are ...

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• 26 March

  Cage-free eggs may be golden goose for retail profits

  

  Bloomberg US retailers adopting cage-free eggs sooner rather than later could gain a profit advantage over competitors. Retailers, including Albertsons Cos., Kroger Co. and CVS Health Corp., announced plans this month to convert to 100 percent cage-free eggs in the next decade, amid a push from consumers and shareholders at US firms. The change likely won’t hurt profits for retailers. ...

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• 26 March

  Delivering innovation, reliability and quality

  

  Sunaina Rana / EMIRATES BUSINESS Rockwell Automation, Inc., the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs over 22,000 people serving customers in more than 80 countries. Neil Enright, Regional Sales Director, Middle East, told Emirates Business, “I am proud to be ...

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• 26 March

  Committed to foster customer-centric culture

  

  Sunaina Rana / EMIRATES BUSINESS Chemours helps to create a colourful, capable and cleaner world through the power of chemistry. It is a leading chemical company, which is a global leader in titanium technologies, fluoroproducts and chemical solutions. The company’s goal is to provide its customers with solutions in a wide range of industries through market-defining products, application expertise and ...

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• 24 March

  UAE, Russia to boost trade ties

  

  Moscow / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Thursday discussed with President of Russia Vladimir Putin ties of friendship and co-operation between the two countries. They also tackled overall regional and international issues of mutual interest. Putin welcomed Sheikh Mohamed, expressing his ...

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• 24 March

  Dubai Tourism, DED tie up to safeguard Dubai logo

  

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) is collaborating with the Department of Economic Development (DED) in Dubai to officially implement and regulate the terms of use for the Dubai brand logo. The use of the Dubai brand logo across any activity must be approved by Dubai Tourism, through the application of a consent ...

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• 24 March

  Call to use new tech for biz efficiency

  Dubai / WAM The 5th Dubai Hamburg Business Forum organised in Dubai by Dubai Chamber of Commerce and Industry on March 22, concluded with a call to make use of the latest developments in technology and innovation to enhance efficiency of business in various sectors. Organised under the theme, ‘The Internet of Things – Innovation to Connect’, the forum was ...

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