March, 2016

• 10 March

  BMW website gets a revamp

  EMIRATES BUSINESS The BMW Group has revised its websites, offering its customers a wide range of comprehensive and international services. The initiative was taken keeping into consideration the growing demand of digitalisation and future-oriented online communication. The website features new content, innovative technology and a new digital corporate design. The use of large-format graphics, sliders in gallery format and a ...

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• 10 March

  Tradition meets modernity at Mother of the Nation Festival

  

  Abu Dhabi / Emirates Business A traditional heritage-inspired boutique Souq Zone, modelled on the old port markets of Abu Dhabi, is set to reflect the cultural richness and openness the UAE at the first-ever Mother of the Nation Festival. Organised by Abu Dhabi Tourism & Culture Authority and being held along the Abu Dhabi Corniche Beach from March 24 to ...

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• 10 March

  Singapore firm selected for Egypt water and power project

  

  Bloomberg Singapore-based Hyflux has been selected to build the Ain Sokhna integrated desalination and power project in Egypt. Hyflux has received a letter of intent from the General Authority for the Suez Canal Economic Zone (SCZone) for a $500m EPC contract for the plant, which will have a desalinated water production capacity of 150,000 cubic metres a day (cm/d). The ...

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• 10 March

  KNPC moves ahead with $10bn loan

  

  Bloomberg The Kuwait National Petroleum Company (KNPC) is pushing ahead with a KD3bn ($9.98bn) loan, according to local banking sources. The mandated lead arrangers have been appointed for the Kuwaiti dinar, Islamic and dollar tranches of the commercial loan. They will work on the loan syndication in the first half, with the size of the tranches depending on appetite. The ...

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• 10 March

  How Japan and Russia cooperate in the Arctic

  

  Japanese policymakers expressed diplomatic interest in the Arctic – a region rapidly being transformed by climate change –as early as 2009, when the country officially submitted an application to become a Permanent Observer in the Arctic Council. Japan’s bid (supported by, surprise, Russia), was approved in May 2013, along with China and South Korea’s. This instance of Russo-Japanese cooperation, particularly ...

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• 10 March

  Japan’s N-safety problems remain 5 years after Fukushima

  

  Five years ago, a magnitude nine earthquake off the east coast of Japan triggered a tsunami that killed almost 20,000 people and led to meltdowns and release of radioactive material at Japan’s Fukushima Daiichi Nuclear Power Plant. The disaster inflicted nearly half a trillion dollars in economic losses and caused the shutdown of more than 50 nuclear reactors, depriving Japan ...

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• 10 March

  Cooling issue: Qatar Airways could halt A320neo deal

  

  Bloomberg Qatar Airways said it could soon give up on Airbus Group SE’s revamped A320neo jetliner if Pratt & Whitney fails to resolve a cooling issue with the plane’s engines, erasing a 2011 order worth a potential $6.4 billion to the manufacturer. Delivery delays requested by Qatar Air because of the hitch, which means planes must sometimes be idled to ...

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• 10 March

  Warmer-than-usual winter stings Dick’s 4Q

  

  CORAOPOLIS / AP Dick’s Sporting Goods fiscal fourth-quarter performance missed Wall Street’s view as warmer-than-usual winter weather crimped the sporting goods retailer’s sales. It also provided guidance below analysts’ estimates. The stock dropped more than 5 percent this week. Many people are wondering how Dick’s will fare now that rival Sports Authority has filed for Chapter 11 bankruptcy protection. Last ...

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• 10 March

  Kenya Airways plans $690mn reorganisation, downsizing

  

  NAIROBI / Bloomberg Kenya Airways Ltd., sub-Saharan Africa’s third-largest airline, is planning a 70 billion-shilling ($690 million) restructuring programme that includes reducing its fleet and cutting staff, Chief Executive Officer Mbuvi Ngunze said. The carrier, based in the capital, Nairobi, has been working on a turnaround plan after reporting the largest loss in Kenyan corporate history last year. The carrier plans ...

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• 10 March

  Amazon leases 20 jets to build out logistics network

  

  NEW YORK / AP Amazon is taking to the skies. The e-commerce powerhouse has finalised an agreement to lease 20 Boeing jets from Air Transport Services Group Inc. as it builds out its US delivery capabilities. Amazon has been investing heavily in its shipping infrastructure, adding sorting centers, which sort packages by zip code and deliver them to post offices. ...

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