March, 2016

• 9 March

  Al Zorah in the spotlight at Ajman Environment Conference

  

  Abu Dhabi / Emirates Business Al Zorah, one of the UAE’s most innovative and eco-conscious mixed-use destinations, known for embodying the ethos of “natural living” pushed its environmental agenda, through the sponsorship of the 4th Ajman International Environment Conference, 2016. The symposium was held at the Sheikh Zayed Centre for Conferences and Exhibitions from March 2 -3. In its fourth ...

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• 9 March

  Balkan nations shut off migrant route to Europe

  

  ljubljana / afp The Balkan trail from Greece to northern Europe used by floods of migrants was blocked on Wednesday after a string of nations slammed shut their borders, hiking pressure on the EU and Turkey to nail down a “game-changing” grand bargain. Slovenia and Croatia, two of the countries along the well-trodden route, said late Tuesday that no migrants ...

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• 9 March

  Saudi, Houthis agree ‘calm’, swap prisoners

  Riyadh / AFP Yemen’s Iran-backed rebels have freed a Saudi soldier in return for seven detained Yemenis as part of a tribal-mediated border truce agreed by both sides, the Riyadh-led coalition said Wednesday. The agreement reached during a visit by a Yemeni tribal delegation to the kingdom is the first of its kind since the Saudi-led coalition began a military ...

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• 9 March

  Morocco slams UN chief for W Sahara comments

  Rabat / AFP Morocco accused United Nations chief Ban Ki-moon of speaking out of turn during a visit to restart talks between Rabat and the Algeria-backed Polisario Front on disputed Western Sahara. The Moroccan government noted “with great surprise the verbal outpourings… and unjustified gestures of deference” by Ban during his visit, according to a statement released by the official ...

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• 9 March

  Upsurge in Israeli-Palestinian violence mars Biden visit

  

  Jerusalem / AFP Two Palestinians opened fire on a bus and near Jerusalem’s Old City on Wednesday, seriously wounding one person, as an upsurge in attacks marred a visit by US Vice President Joe Biden. Six separate attacks have taken place shortly before or after Biden’s arrival on Tuesday, including a stabbing spree on the Tel Aviv waterfront by a ...

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• 9 March

  Special forces stage helicopter raid on Somalia’s Shabaab

  

  Mogadishu / AFP Special forces operatives in two helicopters staged an overnight raid on Somalia’s Shebab insurgents, government officials and the Al-Qaeda-linked gunmen said on Wednesday. The raid, reportedly by foreign troops, targeted the Shebab-controlled town of Awdhegele, some 50 kilometres (30 miles) west of Somalia’s capital Mogadishu. “There was an operation by Special Forces late last night around Awdhegele ...

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• 9 March

  Plunge in oil prices raises Cathay net profit by 90pc

  

  Hong Kong / AFP Hong Kong flag carrier Cathay Pacific said net profit almost doubled last year as tumbling oil prices slashed fuel costs and boosted passenger numbers, although global demand dented the cargo unit. With fuel accounting for a huge chunk of most airlines’ outlay, the slump in crude since mid-2014 has provided a much-needed boost to their bottom ...

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• 9 March

  Urban Outfitters jumps after merchandise sales boost profit

  Philadelphia / Bloomberg Urban Outfitters Inc. shares rose the most in more than three years after fourth-quarter profit topped analysts’ estimates, helped by a shift toward higher-margin merchandise. Excluding some items, earnings were 61 cents a share, the Philadelphia-based retail chain said in a statement on Monday. Analysts had projected 56 cents on average, according to data compiled by Bloomberg. ...

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• 9 March

  United board fight breaks out as activists turn to Bethune

  

  Bloomberg Two United Airlines shareholders will nominate Gordon Bethune, renowned for resurrecting merger partner Continental, to head an insurgent director slate as the carrier’s top executive returns from a heart transplant. Hedge funds Altimeter Capital Management LP and PAR Capital Management Inc. are backing six new board members led by Bethune, the former chief executive officer of Continental Airlines, which ...

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• 9 March

  Customer defections lead RWE to post loss at UK biz

  

  Bloomberg RWE AG’s UK unit will reduce its workforce by 21 percent after reporting a full-year loss and a customer exodus amid billing system failures. Germany’s biggest power producer posted its second net loss in three years. Npower’s operating loss was 137 million euros ($151 million) compared with a profit of 227 million euros a year earlier, the Essen, Germany-based ...

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