October, 2018

• 20 October

  Boeing pushes for deeper China ties amid trade war

  

  Bloomberg Boeing Co. is stepping up efforts to bolster its ties with China as President Donald Trump’s trade fight threatens to give rival Airbus SE an edge in the world’s second-biggest aviation market. In one sign of potential trouble, a Chinese airline that’s been an exclusive operator of Boeing jets for more than 30 years is said to be in …

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• 20 October

  Airbus wins Kuwait order for A330Neo

  

  Bloomberg Airbus SE won a contract from Kuwait Airways for its A330-800 aircraft model, securing a vital deal for the struggling program at the expense of a reduced order for the jet’s bigger sibling. Kuwait Air agreed to buy eight A330neos while paring a commitment for the larger A350 from 10 planes to five, according to a statement. The order …

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• 20 October

  Ikea unveils special offers to mark 75th anniversary

  ABU DHABI / Emirates Business Celebrating its 75th anniversary, Ikea is giving away instant cash prizes summing up to a total of AED 1,000,000 in giveaway prizes to lucky winners in the UAE, across their Dubai, Abu Dhabi and Al Ain stores. The retailer is awarding the shoppers scratch and win cards when they spend a minimum of AED400 in …

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• 20 October

  Korean Air chief Cho faces trial

  

  Bloomberg Korean Air Lines Co. Chairman Cho Yang-ho is set to stand trial in an embezzlement case, adding to troubles faced by a family that’s been at the center of rage-driven scandals. Indicting Cho, prosecutors said he pocketed 19.6 billion won ($17 million) in fees meant for the carrier from maintenance and duty-free operations in the five years through 2018, …

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• 20 October

  Amazon doles out freebies to juice sales of its brands

  

  Bloomberg Amazon.com Inc. cracked down on fake reviews two years ago by prohibiting shoppers from getting free products directly from merchants in exchange for writing reviews. It was a major turning point for the world’s largest online retailer, which had previously seen “incentivised reviews” as a key way for consumers to discover new products. Amazon changed course because it realised …

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• 17 October

  UAE, UNDP partner to bring more Emiratis into development field

  NEW YORK / WAM The United Arab Emirates and the United Nations Development Programme (UNDP) have announced a new Memorandum of Understanding that will allow UAE nationals to join the agency as full-time staff under a Junior Professional Officer (JPO) Programme. The agreement was signed by Reem Al Hashemy, Minister of State for International Cooperation, and Achim Steiner, Administrator of …

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• 17 October

  Flexible working to add $10trn to global economy

  

  ABU DHABI / Emirates Business A predicted boom in flexible working could contribute $10.04 trillion to the global economy by 2030, according to the first comprehensive socio-economic study of changing workplace practices. The analysis, commissioned by Regus and conducted by independent economists, studied 16 key countries to delve into the state of flexible working both now and through 2030. Regus …

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• 17 October

  Oil dips as US stockpiles swell

  

  Bloomberg Oil hit the lowest in a month after the US government data showed expanding crude stockpiles. Futures fell as much as 3.2 percent in New York on Wednesday. Domestic crude inventories rose by more than twice the rate forecast by analysts last week, according to the Energy Information Administration. Stored supplies have been growing for four weeks, the longest …

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• 17 October

  Opec moves to calm oil-supply fears as India slams high prices

  

  Bloomberg Organisation of Petroleum Exporting Countries (Opec) again sought to reassure markets after one of its biggest customers complained about the pain of high prices. “There is no cause for alarm,” Opec Secretary-General Mohammad Barkindo said, adding that India had sent a letter bemoaning the state of the oil market. While insisting supplies are sufficient, he neglected to specify how …

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• 17 October

  Drax is buying power plants from Iberdrola

  

  Bloomberg Drax Group Plc agreed to buy some of Iberdrola SA’s power plants for 702 million pounds ($923 million), boosting its clean energy assets in a further shift away from burning coal. The acquisition involves pumped storage, renewable hydro and gas-fired power assets and will increase the utility’s generation capacity by more than 60 percent to about 6.6 gigawatts, Chief …

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