January, 2020

• 8 January

  Airlines divert flights from Iraqi, Iranian airspace

  

  Bloomberg Airlines around the world diverted flights from the airspace over Iran, Iraq, and the Persian Gulf after Tehran fired more than a dozen missiles at US forces in the region. In the wake of the attack, carriers ranging from Singapore Airlines Ltd and Qantas Airways Ltd to Air France-KLM and Deutsche Lufthansa AG have said they’re avoiding the area, ...

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• 8 January

  Citic to sell 22% of stake in McDonald’s China for $312m

  Bloomberg Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement on Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the ...

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• 8 January

  Hundreds of cars gutted in Norway airport fire

  

  Bloomberg A major parking-garage fire at an airport on Norway’s west coast destroyed hundreds of cars, grounded air traffic and led to an evacuation of the facilities. The fire, which started on January 07 afternoon and spread to several floors of the garage, was partly contained by 9:30 pm local time, Norwegian news agency NTB reported, citing police. There were ...

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• 8 January

  Creditor accuses Forever 21 of inflating sales projections

  

  Bloomberg Forever 21 Inc can add a lawsuit to the hurdles it’s trying to overcome as it works to woo investors in time to finance its exit from bankruptcy. An Alabama mall owner is suing Forever 21, saying it lost millions of dollars leasing space to the retailer based on misleading sales targets. Forever 21 is accused of misrepresenting sales ...

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• 8 January

  Stocks push higher, bonds slip on Trump comments

  

  Bloomberg US stocks extended gains and Treasuries turned lower after President Donald Trump toned down rhetoric against Iran, suggesting further military force is not needed. The S&P 500 pushed to a fresh intraday record after Trump said Iran appears to be “standing down,” and announced further sanctions on the country. Ten-year Treasury yields rose after tumbling overnight following Iranian airstrikes ...

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• 8 January

  Gundlach doubles down on weak-dollar call after resilient 2019

  

  Bloomberg Billionaire money manager Jeffrey Gundlach said his strongest market conviction is that the still-resilient dollar will weaken. The greenback has largely defied expectations for its demise, with the Bloomberg Dollar Spot Index ending last year less than 1% lower as foreign-exchange volatility dwindled. But the DoubleLine Capital chief executive officer said growing US government and trade deficits, a steepening ...

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• 8 January

  Bitcoin climbs higher after surging through $8,000 level

  Bloomberg Bitcoin climbed to the highest since November after breaching the $8,000 price level. Concerns about an escalation in the conflict between the US and Iran are seen as contributing to the rally in Bitcoin, which is not managed by a government. “Bitcoin and gold are well supported due to rising tensions between the US and Iran,” said Emmanuel Goh, ...

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• 8 January

  Masdar builds world’s largest mosaic from recycled material

  

  Abu Dhabi / WAM Masdar City, Abu Dhabi’s flagship innovative and sustainable urban development, has officially broken the Guinness World Record for the world’s largest mosaic made from recycled materials. The mosaic, which measures 1,015 square metres – around the size of two basketball courts – took one month to assemble and contains almost 90,500 recycled items, including plastic bottles, ...

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• 8 January

  New visa to transform UAE’s tourism sector

  

  ABU DHABI The international media followed with great interest the resolution of the UAE cabinet that approved the multi-entry tourist visa for UAE for a period of five years for all nationalities, which will have a significant impact regionally and globally in this important time. The Resolution delivers many promising messages to the UAE community and the whole world, the ...

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• 8 January

  Adnec first in region to introduce autonomous cleaning robots

  

  ABU DHABI / WAM In line with its mission to promote sustainability, innovation and new technologies, the Abu Dhabi National Exhibitions Company (Adnec), invested in autonomous cleaning robots, AvidBot, demonstrating an innovative approach to the Adnec’s continuous commitment to moving forward in a sustainable and eco-friendly manner. Using less water to clean floors, the robots can discreetly and efficiently ensure ...

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