January, 2019

• 19 January

  Singapore plans to buy F-35 fighter jets to replace F-16 fleet

  

  Bloomberg Singapore has identified Lockheed Martin Corp’s F-35 Joint Strike Fighter as the most suitable replacement for its fleet of F-16 fighter jets and plans to buy a small number for evaluation, the Ministry of Defense said in a statement. The Air Force’s F-16s that were in service since 1998 will retire soon after 2030, Defense Minister Ng Eng Hen …

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• 19 January

  Casino to sell six stores to Leclerc for $114 million

  

  Bloomberg Casino Guichard-Perrachon SA agreed to sell six loss-making Géant hypermarkets across France to current grocery-market leader Groupement E. Leclerc for 100.5 million euros ($114 million.) The stores, located outside Paris, are “the least performing” in its network and accounted for a total trading loss of about 8 million euros in 2018, Casino said in a statement on Saturday. The …

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• 19 January

  North Face’s China sales lift Canada Goose

  

  Bloomberg VF Corp’s quarterly beat, aided by a sales increase in China, is fuelling a rally in branded apparel peers that include Canada Goose Holdings In., where concerns of a slowdown in the region has weighed on the stock. China sales increased 23 percent year-over-year on a constant currency basis at VF Corp. During the conference call, executives said China …

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• 19 January

  Bangkok Air CEO banned from listed firms’ positions

  

  Bloomberg Bangkok Airways Pcl Chief Executive Officer Prasert Prasarttong-Osoth has been banned from holding director and executive positions in listed companies in Thailand for manipulating the share price of the airline. Civil sanctions have been imposed on Prasert and his daughter, Poramaporn Prasarttong-Osoth, the chief operating officer at Bangkok Dusit Medical Services Pcl, as well as Narumon Chainaknan, the executive …

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• 16 January

  UAE, Kosovo expand economic partnership

  

  SHARJAH / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, stated that the ties between both the UAE and Kosovo are historically strong, which extend ba-ck to time of UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan. He remarked that these ties grew into an integrated economic partnership, which resulted in ground-breaking agreements on the avoidance …

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• 16 January

  Menasa e-commerce market to grow at 24.6% by 2020

  

  Dubai / WAM The Middle East, North Africa and South Asia (Menasa) region’s e-commerce sector is growing aggressively at 24.6 percent CAGR through to 2020, according to a newly launched report by Dubai CommerCity. The report, ‘Menasa e-commerce landscape’, assists global companies and start-ups in evaluating the opportunities within the regional e-commerce market and highlights the high growth in the …

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• 16 January

  Saudi PIF to drive kingdom’s renewables growth

  

  Bloomberg Saudi Arabia’s sovereign wealth fund will develop the bulk of the kingdom’s proposed renewable power projects, turning it into one of the region’s biggest utility investors. The Public Investment Fund (PIF) will be responsible for developing 70 percent of the kingdom’s renewable power capacity, Saudi Energy Minister Khalid Al-Falih said in a speech in Abu Dhabi. The rest will …

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• 16 January

  Opec, allies to review output cuts in March

  

  Bloomberg Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organisation’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial Monitoring Committee, will convene in the Azeri capital of Baku on March …

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• 16 January

  India restricts private refiners from tapping Iranian crude quota

  Bloomberg India will not share the limited supply of Iranian crude allowed under a US waiver from sanctions with private refiners, according to people with knowledge of the matter. That is a departure from the earlier practice of splitting exempted volumes. The government has asked four state refiners led by Indian Oil to share the entire 9 million barrels of …

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• 16 January

  US stocks gain amid signs of great start to earnings season

  

  Bloomberg US stocks gained amid signs of a better-than-expected start to the earnings season. The pound was little changed against the dollar before a vote on the UK’s government. The S&P 500 rose to within a whisker of its average price over the past 50 days, a level it hasn’t breached since early December. Financials buoyed major indexes as Goldman …

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