January, 2023

• 9 January

  New international accreditation for American University in the Emirates

  

    Dubai / Gulf Time The American University in the Emirates (AUE) announced that it has accepted its accreditation from the Southern Association of Colleges and the Schools Committee for Colleges, which is an institutional accreditation body for evaluating gatherings to ensure the quality and integrity of education. This came during a press conference held by the university at its ...

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• 9 January

  More nations to test Chinese travellers as variant spreads

  

  Bloomberg Countries from around the world are stepping up measures to shield their populations from the Covid-19 outbreak in China that comes as a more transmissible variant of the virus boosts infections globally. Portugal has joined the roster of European nations that will require a negative Covid-19 test for passengers from China, while Germany is discouraging all non-essential travel to ...

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• 9 January

  Macy’s says ‘holiday sales weaker than it expected’

  

  Bloomberg Macy’s Inc expects to report fourth-quarter sales that were weaker than previously forecast and sees continued pressure on the consumer in 2023. Net sales are now expected to be at the low end to midpoint of the previously issued range of $8.2 billion to $8.4 billion, Macy’s said. The company reiterated its previous guidance for adjusted earnings per share ...

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• 9 January

  Party City nears bankruptcy, may hand reins to creditors

  

    Bloomberg Party City Holdco Inc is laying the groundwork for a bankruptcy filing within weeks that may end with creditors taking ownership of the retailer, according to people with knowledge of the situation. The company will likely miss a coupon payment due in mid-February and could seek reprieve from its creditors to negotiate a restructuring, according to the people, ...

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• 9 January

  McDonald’s quickens new store growth while cutting jobs

  

    Bloomberg McDonald’s Corp is accelerating new store openings to capture increased demand, while cutting corporate jobs as it winds down other priorities. The fast-food company warned that it would be eliminating certain initiatives to help it “move faster,” according to an emailed statement. McDonald’s also said it would be making job cuts that would be final by April 3. ...

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• 9 January

  Costco jumps most since 2020 on holiday strength

    Bloomberg Costco Wholesale Corp is heading for its biggest gain since March 2020 after improving December sales soothed investor concerns about a slowdown in November 2022. Excluding the impact of changes in gasoline prices, Costco’s US comparable sales climbed 6.4% last month, topping the 5% average of analyst estimates compiled by Consensus Metrix. In November, the closely followed sales ...

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• 9 January

  Apple begins retail store staff hiring in India

    Bloomberg Apple Inc has begun hiring retail store workers in India and has plans to fill other roles as the technology company prepares to open stores in the country, according to a report by the Financial Times. The company’s careers page lists several different opportunities for workers in India, including business expert, “genius,” operations expert and technical specialist. Apple’s ...

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• 9 January

  China’s long-awaited reopening of border marks Covid Zero end

  

  Bloomberg China’s long-awaited border reopening — the final step in its dismantling of Covid Zero — is set to spark a homecoming rush for many diaspora, though a full rebound in travel is likely to take longer. Starting from Sunday, China no longer requires quarantine for arrivals after authorities ditched the policy that, along with the exorbitant cost of air ...

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• 9 January

  Taiwan’s export outlook bearish on weak demand

  

    Bloomberg The decline in Taiwan’s exports is likely to accelerate as rising global inflation and China’s surging Covid outbreak sap demand, an economic official said. Overseas shipments decreased 12.1% in December from a year earlier, after falling 13.1% the previous month, the Ministry of Finance said. The median estimate in a Bloomberg survey of economists was for a 15.8% ...

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• 9 January

  Thailand to reintroduce entry rules as China borders reopen

  Bloomberg Thailand will reintroduce Covid-19 entry requirements for foreigners flying into the country from Monday, the nation’s transport minister said, as the Southeast Asian nation prepares for an expected wave of tourists from China. Adults must show proof of at least two vaccinations, or recovery from the virus since July, according to comments from Saksayam Chidchob published on the minister’s ...

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