November, 2018

• 3 November

  India RBI spat a flashpoint as easy money era ends

  

  Bloomberg India is the latest country to see age-old tensions between governments and central banks flare up as the era of easy money draws to a close. Prime Minister Narendra Modi’s government sent the central bank letters that cited a never-used power to overrule the Reserve Bank of India in a bid to push through measures that would unleash spending …

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• 3 November

  Divers spot wreckage of crashed Lion Air jet

  

  Bloomberg Indonesian divers found the main wreckage of the Lion Air plane that crashed into the Java Sea, a breakthrough in a week-long search for victims and the cockpit voice recorder that holds the key to unraveling the reason for the accident. Divers who have been scouring a 270-square-mile area since the jet crashed on October 29 spotted the Boeing …

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• 3 November

  Norwegian to sell jets to boost finances

  

  Bloomberg Norwegian Air Shuttle ASA agreed to sell five Airbus SE A320neo narrow-body planes in a move that will boost liquidity amid a cash squeeze and rising oil prices. The discount carrier’s Arctic Aviation Assets unit signed an accord covering the jetliners, which are currently leased out to another operator, Norwegian said, without naming the buyer. The deal will lift …

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• 3 November

  Montreal-based Gildan wins Walmart contract

  

  Bloomberg Gildan Activewear Inc. said it won a contract to produce men’s underwear for a major retailer, part of the clothing maker’s bid to capitalise on companies’ growing preference to sell their own lines of apparel. The Montreal-based company, which also owns American Apparel, said it secured a contract for 2019 to manufacture men’s innerwear for its “largest mass retail …

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• 3 November

  Ryanair’s plan to close a Dutch base gets expensive

  

  Bloomberg Ryanair Holdings Plc was prevented by a Dutch court from involuntarily transferring workers from Eindhoven, raising the cost of the carrier’s plan to shut down the base following clashes with unionised staff. The decision in Den Bosch marks a setback for Ryanair, which recently recognised unions and is now in negotiations across Europe. The court ruled the carrier misused …

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• 3 November

  Starbucks jumps as menu revamp boosts US sales

  Bloomberg Starbucks Corp. broke out of its home-market slump, posting better-than-expected sales in the US that sparked a share rally in late trading. Comparable sales — the key gauge of retail performance — rose 4 percent in the Americas, beating analysts’ estimate for a gain of 2.8 percent and far-outpacing the previous quarter’s sluggish pace. Sales also beat globally. Starbucks …

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October, 2018

• 31 October

  UAE, Ethiopia ink draft labour MoU

  ADDIS ABABA / WAM The United Arab Emirates and the Federal Democratic Republic of Ethiopia have agreed on a draft MoU in the field of manpower and domestic aid workers. This came during a meeting involving delegates of the Ministry of Human Resources and Emiratisation and the Ethiopian Ministry of Labour that took place in the capital Addis Ababa in …

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• 31 October

  German firm forays into UAE with $327mn projects

  ABU DHABI / WAM Meilenstein, a real estate developer that traces its origin in Germany, has announced its foray in the UAE’s real estate market with eight projects with a development value exceeding AED1.2 billion ($327 million). The projects are set to be built in several locations across Dubai, including Mohammed Bin Rashid City (MBR City) within Meydan City, Al …

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• 31 October

  Efficiency innovations enable UAE’s $72 billion energy investments

  

  DUBAI / Emirates Business Schneider Electric, the leader in digital transformation of energy management and automation, announced that energy efficiency innovations are enabling the UAE’s $72 billion worth of energy investments during the recent Innovation Day Dubai. Boosted by the UAE Energy Strategy, which aims to generate 50 percent of its energy from clean energy, and the Dubai Clean Energy …

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• 31 October

  US stocks rally to end painful month; dollar at 16-month high

  

  Bloomberg US stocks rallied on the final day of one of the worst months of the bull market, as earnings from Facebook jolted tech shares higher. The dollar added to a 16-month high. The S&P 500 Index headed for the first back-to-back gains of October, paring its steepest monthly drop since 2011 to 7 percent. Strong earnings that had largely …

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