March, 2016

• 3 March

  ECB brainstorms as Draghi seeks stimulus

  

  Bloomberg One week before a long-awaited stimulus decision, European Central Bank (ECB) officials are privately deliberating over how to enhance their monetary policy stance without maiming its transmission. Committees studying how to mitigate the impact on banks have prepared potential measures that range from variations on a tiered deposit rate to techniques for countering the impact of stimulus on excess ...

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• 3 March

  BOJ’s Nakaso signals Japan may reduce rates again

  

  Tokyo / Bloomberg Bank of Japan (BOJ) Deputy Governor Hiroshi Nakaso indicated the central bank is prepared to take its benchmark rate deeper into negative territory, though not immediately. “We have designed a policy that technically allows us to cut the level further,” Nakaso told reporters in Okinawa on Thursday, referring to a minus 0.1 percent interest rate policy the ...

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• 3 March

  Singapore Air turns to new jet to lure premium flyers

  

  SINGAPORE / Bloomberg Singapore Airlines Ltd., facing competition from Middle Eastern carriers and a rash of budget airlines, is trying to revive its fortunes the way it knows best: wooing flyers with new aircraft. The carrier received its first Airbus Group SE A350 in Singapore on Thursday. While the new aircraft with its extra-wide cabins and a new entertainment system will ...

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• 3 March

  MGM close to $1.13 billion sale of Las Vegas mall to Simon

  

  LAS VEGAS / Bloomberg MGM Resorts International has reached an agreement to sell its Shops at Crystals mall in Las Vegas to a Simon Property Group Inc. partnership for $1.13 billion, according to a person with knowledge of the transaction. The deal may be completed soon, said the person, who asked not to be identified because the terms have not been ...

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• 3 March

  McKesson buys Canada’s Rexall Drugstores for $2.23bn

  

  Bloomberg McKesson Corp. agreed to acquire Rexall Health, Canada’s No. 2 drugstore chain, from its private owner for C$3 billion ($2.23 billion), as the US distributor of medical products expands its presence in Canada. Rexall operates about 470 retail pharmacies, and McKesson said it will maintain the brand in Canada. The acquisition of Rexall from Katz Group is being funded ...

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• 3 March

  Costco profit drops as demand wanes

  

  Washington / Bloomberg Costco Wholesale Corp. posted second-quarter earnings that trailed analysts’ estimates as higher-income shoppers show signs of curtailing spending. Net income fell 8.7 percent to $546 million, or $1.24 a share, the Issaquah, Washington-based company said in a statement. Analysts estimated $1.28 a share, on average. Same-store sales in the US, a closely watched measure by investors, increased ...

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• 3 March

  Havana top destination as US airlines vie for Cuba

  

  NEW YORK / AP US airlines are looking to serve Cuba primarily from their large hub cities, with Havana being the most popular destination. At least eight carriers submitted applications to the US Department of Transportation (DOT) outlining what routes they would like to fly. The government will spend the next few months reviewing the requests and is expected to ...

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• 3 March

  Mama Fu’s dishes out Pan-Asian cuisine to Emirates

  

  Sunaina Rana / EMIRATES BUSINESS Mama Fu’s Asian House, the USA-based restaurant concept specialising in fresh and innovative Asian cuisine, launches its first international location in the UAE this November. Mama Fu’s promises a new gastronomic experience offering an inventive menu inspired by the cuisines of Vietnam, Korea, China, Japan, and Thailand. The brand is all set to launch a ...

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• 3 March

  City Chic extends plus-size style to UAE’s women

  

  Our Correspondent / EMIRATES BUSINESS Fashion conscious women seeking style in the 14+ range now have three new outlets dedicated to catering to their fashion requirements in the UAE. City Chic, the leading global plus size brand, is opening a trio of new stores in the country, making its popular range of plus size clothing available to customers in the ...

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• 2 March

  UAE believes in human resources: Mohamed

  

  Abu Dhabi / WAM The United Arab Emirates, under the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has strongly believed in the importance of its human resources in all fields, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said on Wednesday. ...

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