January, 2019

• 12 January

  Calvin Klein closes NY flagship over strategy shift

  Bloomberg Calvin Klein is closing its Madison Avenue flagship store in New York this spring as the fashion label shakes up its strategy. The apparel maker owned by PVH Corp said it would begin using a “digital-first” approach and reorganise its North American division, combining operations in sportswear and jeans. Its higher-end Calvin Klein 205W39NYC business will get a makeover …

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• 12 January

  Tesco bucks UK holiday retail gloom as smaller stores slump

  

  Bloomberg In an increasingly tough UK retail environment where the looming threat of Brexit has ground down consumer confidence, the holiday-shopping season was all about survival of the fittest. Tesco Plc, the country’s biggest retailer, weathered brutal price pressure and a decline in shopper visits better than smaller rivals, posting Christmas sales that beat expectations. But other stores more exposed …

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• 9 January

  UAE launches global call to action on sustainability

  ABU DHABI / WAM Abu Dhabi Sustainability Week (ADSW) on Wednesday launched the #WeAreCommitted campaign, calling on the global community to pledge their support to sustainability. The online campaign has brought together Sheikhs, government ministers, amba-ssadors, business leaders, and young innovators to share their commitments. According to economic analysis, tackling sustainability-related challenges could save the global economy up to $30 …

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• 9 January

  Startup funding in Mena up 31% to AED3.28bn

  

  DUBAI / Emirates Business Startup funding across Mena region witnessed a strong growth in 2018 with record number of transactions, according to a report released by Magnitt — leading data platform tracking the region’s startup ecosystem. The 2018 Mena Venture Investment Report — which provides an in depth analysis of startup funding across the Middle East and North Africa — …

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• 9 January

  US says China willing to buy more American as trade talks conclude

  

  Bloomberg The Trump administration wrapped up the latest round of trade talks in Beijing, noting a commitment by China to buy more US agricultural goods, energy and manufactured items. China and the US concluded three days of talks on Wednesday with a cautious sense of optimism that the world’s two biggest economies might be able to reach a deal that …

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• 9 January

  China eases back on Mideast, African oil after buying binge

  

  Bloomberg China’s crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge the previous month that saw the Asian country’s stockpiles swell. Observed flows to China from the two regions dropped to 5.04 million barrels a day, the lowest since August, after reaching a 2018-high of 6.45 million barrels …

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• 9 January

  China’s State Grid to spend $5.7bn on ‘hydro plants’

  

  Bloomberg State Grid Corp of China, the dominant electricity distributor in the world’s biggest energy consumer, will invest 38.7 billion yuan ($5.7 billion) to build five pumped hydro storage plants as part of the nation’s efforts to ease idled solar and wind power capacity. The projects, in Hebei, Jilin, Zhejiang, Shandong provinces and the far west Xinjiang autonomous region, will …

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• 9 January

  Oil lobbyist warns of political risk in Norway

  

  Bloomberg Norway’s oil industry is in full recovery mode, but the country’s top petroleum lobbyist is worried about growing opposition ahead. At the same time as it gave a big boost to investment forecasts for next five years, Norwegian Oil and Gas Association sounded one of its starkest warnings yet on political risk facing the nation’s biggest industry. Explorers and …

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• 9 January

  Mexico oil chiefs under pressure amid fuel crisis

  

  Bloomberg Mexico’s opposition is accusing the government of addressing the issue of fuel theft irresponsibly as supply fears spread to the nation’s capital. Members of the senate are calling for the newly appointed energy minister Rocio Nahle and Petroleos Mexicanos chief executive Octavio Romero to explain how they will fix fuel distribution amid shortages at gasoline stations in central Mexico, …

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• 9 January

  EDF unit draws bidders for its oil and gas assets

  Bloomberg Electricite de France SA’s Italian unit has attracted potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy for its oil and gas business, people familiar with the matter said. Bidders for Edison SpA’s exploration and production assets, primarily located in Egypt and Italy, may offer as much as $2 billion, the people said, asking not to be …

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