June, 2019

• 24 June

  Carrefour sells control of its China unit for $698mn

  

  Bloomberg Carrefour SA has agreed to sell an 80 percent stake in its China unit for $698 million in cash to local retailer Suning.com Co as it rethinks its exposure in the world’s No. 2 economy after years of decline. The yielding of control comes after a long search for a partner for the French company’s struggling Chinese operations. Once ...

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• 24 June

  Lufthansa details its dividend policy, Eurowings revamp

  

  Bloomberg Deutsche Lufthansa AG adjusted its dividend policy and unveiled a revamp of its money-losing Eurowings arm in a bid to soothe investor worries a week after issuing a second profit warning this year. Europe’s biggest airline will rebase the dividend to 20 percent to 40 percent of adjusted net income, a measure a spokesman said would provide flexibility for ...

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• 24 June

  Uniqlo owner considers paying star employees $280,000 after 3 years

  

  Bloomberg Asia’s largest retailer is hoping that a $280,000 annual salary and a managerial title in three years will lure top talent as | it grapples with one of the tightest labour markets in Japanese history. The salary being considered by Uniqlo owner Fast Retailing Co would be more than three times the average pay at the company, and nearly ...

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• 24 June

  EVA Air cancels flights as attendants go on strike

  

  Bloomberg A flight attendants strike has forced Taiwan’s EVA Airways Corp to cancel hundreds of flights, just as the peak summer vacation season starts to get under way. The airline will scrap a total of 852 flights in the eight days to June 28, an EVA Airways spokesperson said by text message on Monday. Flights between Taipei and Hong Kong ...

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• 24 June

  Delta buys stake in Korean Air in boost to family owners

  

  Bloomberg Delta Air Lines Inc bought a stake in the parent of its joint-venture partner Korean Air Lines Co, deepening a push into Asia and bolstering the controlling family in its face-off with activist investors. The Atlanta-based airline acquired 4.3 percent of Hanjin Kal Corp, Korean Air’s largest shareholder, and expects to boost the holding to 10 percent over time, ...

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• 23 June

  Tensions in Gulf can only be addressed politically: UAE

  

  Bloomberg The United Arab Emirates called for de-escalation and a political solution to the tensions gripping the Gulf region after US President Donald Trump abruptly called off a plan for airstrikes against Iran. “Tensions in the Gulf can only be addressed politically,” the UAE’s minister of state for foreign affairs, Anwar Gargash, said on Twitter on Sunday. Tensions are boiling ...

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• 23 June

  Chinese investments in UAE real estate to surge 70%

  

  DUBAI / Emirates Business Chinese investments in the UAE real estate sector is set to surge in the coming months and will grow over 70 percent during 2019, reinforcing the growth potential on offer in the country, according to Fidu Properties, one of the leading Chinese companies in the UAE property market. Chinese investments have gone up 64 percent between ...

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• 23 June

  Gulf spreads may fall as Trump favours Iran sanctions over attack

  

  Bloomberg Investors in Gulf assets breathed a sigh of relief after US President Donald Trump showed restraint against Iran. Calling off airstrikes and opting for additional sanctions on Iran eases the risk of military combat between the Persian nation and its Arab neighbours, and will probably have a positive impact on GCC spreads, according to Arqaam Capital Ltd. “While GCC ...

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• 23 June

  Bifacial panels prove a boon for solar sector

  

  Bloomberg The solar industry has a new way of ducking the Trump administration’s tariffs on its imports: two-sided panels. The US Trade Representative said in a notice that it’s granting an exemption to solar duties for bifacial panels, ones that can generate power on both sides. The carve-out is a win for both Asian manufacturers including JinkoSolar Holding Co, LG ...

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• 23 June

  Mexico energy companies plan private auctions

  

  Bloomberg After Mexico’s National Energy Control Center cancelled a widely anticipated long-term power auction almost five months ago, the frustration among private companies was palpable. Now, they are taking matters into their own hands — with the help of an upstart energy company formed by some of the power auctions’ original architects. Mexico City-based Bravos Energia is launching new, private ...

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