May, 2020

• 4 May

  Norwegian owners approve crisis plan after bond deal

  

  Bloomberg Norwegian Air Shuttle ASA’s shareholders approved a restructuring plan that will qualify the struggling carrier for state aid and keep it afloat in the coming months. After the company clinched a deal with creditors following intense talks through the weekend, shareholders approved the plan at an extraordinary general meeting on Monday, according to a statement. The restructuring will see ...

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• 4 May

  Lufthansa expects to reach pact on government aid soon

  

  Bloomberg Deutsche Lufthansa AG’s management will face investors on Tuesday as the company races to finalise terms of a multibillion-euro bailout from the German government. Over the weekend, Chief Executive Officer Carsten Spohr told employees that the discussions are moving towards a conclusion. The bailout is expected to stretch to 10 billion euros ($11 billion), with the state likely to ...

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• 4 May

  Blue Bell agrees to guilty plea, $19m fine for listeria ice cream

  

  Bloomberg Blue Bell Creameries Inc, a Texas-based ice cream maker, agreed to plead guilty and pay $19.35 million in fines for shipping frozen treats tainted with listeria in 2015 and deliberately failing to disclose the contamination to the public, the US Department of Justice said. The company’s former president, Paul Kruse, was charged with seven felony counts related to the ...

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• 4 May

  Sur La Table prepares for bankruptcy

  Bloomberg High-end cookware chain Sur La Table Inc is preparing for a potential bankruptcy filing after the pandemic forced it to close stores and cancel cooking classes, according to people familiar with the matter. The chain, with about 125 stores, is also pursuing a sale, said the people, who asked not to be identified because the process isn’t public. For ...

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• 3 May

  UAE-Oman ties ‘eternal and growing’, says envoy

  

  Muscat / WAM Mohammed Sultan Al Suwaidi, UAE Ambassador to Oman, hailed relations between the UAE and Oman as historic and based on family ties, lineage, and common history. In a statement to the Oman News Agency, Al Suwaidi said these ties were ”eternal” and ”growing steadily.” According to Al Suwaidi, the two countries maintain regular coordination in many trade ...

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• 3 May

  Global oil demand starts a long, painful and uncertain recovery

  

  Bloomberg Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major US refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover in America. He only needed to look at the streets of San Antonio, the Texas city where he’s based, ...

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• 3 May

  Some sectors in Sharjah may gloom but others will bloom in pandemic

  

  SHARJAH / WAM Sharjah Directorate of Human Resources (SDHR) issued a study entitled “Effects of coronavirus pandemic on local business sectors and jobs,” to show the impact of the Covid-19 pandemic on a number of sectors in the emirate. The SDHR’s study noted that businesses that were able to fully transform to online operations are the “winning” works where jobs ...

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• 3 May

  ERC Ramadan Mir campaign supports 100,000 Yemenis

  ADEN / WAM The Emirates Red Crescent (ERC) has continued its Ramadan Mir campaign, with a daily average of 3,770 meals distributed across four Yemen governorates. According to the UAE aid authority, the four governorates include Hadramaut, Shabwa, Hodeidah, and Taiz. Some 7,000 iftar meals were distributed across districts in each of the Hadramaut and Hodeidah governorates, while Shabwa saw ...

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• 3 May

  Dubai Customs pushes shipping against tide of coronavirus

  

  DUBAI / WAM Dubai Customs continues its recognisable role in facilitating legitimate trade, enhancing the national economy and supporting the national efforts against the negative impacts of the coronavirus pandemic. In Q1 of 2020, around 24.314m tons of goods passed through Dubai Customs’ sea and air shipping centers despite the international economic downturn due to the pandemic crisis. Dubai Customs’ ...

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• 3 May

  du announces host of new Ramadan offers for families

  Dubai / Emirates Business du, from Emirates Integrated Telecommunications Company (EITC), announced it has launched a host of exclusive offers across home, prepaid, postpaid, and value-added services (VAS) for customers to keep them connected with loved ones and family as they celebrate the Holy Month of Ramadan. Aiming to provide its customers with uninterrupted services to stay connected and enjoy ...

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