December, 2022

• 7 December

  UAE central bank fines exchange house $524m

    Abu Dhabi / WAM The central bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations, and Article 137 of the Decretal Federal Law No. ...

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• 7 December

  Emirates SkyCargo adds UK to its home delivery shopping platform

  

    Dubai / Gulf Time Customers based in the UAE can now enjoy fast delivery on their shopping from the UK with Emirates Delivers. Emirates Delivers, the e-commerce platform of Emirates SkyCargo, enables customers to shop from multiple online retailers in the UK, consolidate their purchases, and have the goods delivered directly to their door. Thousands of UAE-based shoppers have ...

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• 7 December

  Etihad receives two sustainability awards

    Abu Dhabi / WAM Etihad Airways has won the “Environmental Sustainability Innovation of the Year” award at CAPA’s annual Environmental Sustainability Awards for Excellence in Singapore, as well as the“Best Airline for Sustainability 2022” award by Business Traveler USA. Etihad’s sustainability initiatives focus on creating operational efficiencies, as the airline quickly went on to unite industry leaders and build ...

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• 7 December

  Overdue brand reboot aims to rescue Air India’s image

  

    Bloomberg Almost a year has passed since India’s biggest conglomerate bought Air India Ltd, promising to turn it into a world-class airline. Reviving the carrier and winning over passengers won’t be easy. A run of 15 years without profit has taken its toll. While Air India remains a high-profile operator in one of the world’s biggest aviation markets, customer ...

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• 7 December

  China’s Anta weighs IPO of Wilson racket maker Amer Sports

  

    Bloomberg China’s biggest athletic-apparel producer Anta Sports Products Ltd is considering an initial public offering of Amer Sports, according to people familiar with the matter. Anta and its co-investors in the Wilson tennis racket maker are holding preliminary talks with investment banks for an IPO that could raise about $1 billion or more, the people said. The group, which ...

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• 7 December

  Airbus slashes full-year delivery target amid supply-chain woes

  

    Bloomberg Airbus SE abandoned its delivery target for this year after supply-chain disruptions ripping through the industry proved too severe to overcome for the world’s biggest planemaker. The European manufacturer moved away from a goal to hand over 700 planes, while saying that it won’t fall “materially short” of the guidance. As of the end of November, Airbus had ...

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• 7 December

  Prada names former LVMH executive as its new CEO

  

    Bloomberg Italian fashion house Prada SpA named Andrea Guerra as its new chief executive officer, stepping into the role held by the husband-and-wife duo of Patrizio Bertelli and Miuccia Prada. Guerra, 57, is a former CEO of eyewear giant Luxottica and Italian food specialist Eataly and most recently was the head of LVMH Moet Hennessy Louis Vuitton SE’s hospitality ...

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• 7 December

  Boeing’s bid for reprieve on 737 left out of US measure

    Bloomberg A must-pass defense bill in Congress excludes a measure to give Boeing Co a reprieve by allowing certification work to proceed on two new 737 Max models, dealing a temporary setback to the company. The provision, which would give Boeing more time to certify the Max 7 and Max 10 models without having to add costly upgrades to ...

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• 7 December

  Vans sneakers owner VF cuts forecast

    Bloomberg VF Corp, the owner of Vans sneakers and the Supreme streetwear brand, fell the most in more than two years after cutting its forecast and announcing the retirement of Chairman and CEO Steve Rendle. The retailer now sees sales for the full year rising no more than 4%, excluding the impact of currency, down from its previous guidance ...

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• 7 December

  China factories struggle with slow Covid curbs dismantling

  

    Bloomberg Before October, Qiang had about 30 workers in his garment factory in Guangzhou’s Haizhu, a district often dubbed the apparel manufacturing capital of China. After more than a month of Covid lockdowns, all of them have fled, bringing production to a halt. “Those who went home are watching to see when to come back,” said Qiang, declining to ...

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