January, 2020

• 1 January

  NIO soars as loss shrinks, but cash concerns linger

  

  Bloomberg NIO Inc surged in US trading after the Chinese electric-car maker paired better-than-expected quarterly results with a warning that it’s still running low on cash. NIO’s adjusted net loss was $342.9 million for the quarter ended in September, a smaller deficit than the prior three months and what analysts were estimating. While the Shanghai-based company doesn’t have enough money ...

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• 1 January

  Tencent buys 10% stake in Universal

  Bloomberg A consortium led by China’s Tencent Holdings Ltd agreed to buy 10% of the world’s biggest music company, Universal Music Group, from Vivendi SA, after months of talks. The deal values Universal Music at 30 billion euros ($33.6 billion) and allows Tencent and its partners to increase the stake to as much as 20% for the same price before ...

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• 1 January

  Uber, Postmates sue California to block gig-worker law

  

  Bloomberg Uber Technologies Inc and Postmates Inc sued the state of California, alleging that a labour rights law set to go into effect this week is unconstitutional. The lawsuit filed in Los Angeles federal court is a preemptive strike against the state’s landmark measure designed to ensure gig workers receive employment protections. Uber and Postmates argue the legislative process around ...

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• 1 January

  Emirates ushered in New Year with positive outlook

  

  Dubai / Emirates Business Emirates, the world’s largest international airline, concluded 2019 with a successful string of product, network, and customer experience highlights. The airline ushered in 2020 with a continued focus on strengthening its business across operational, commercial and customer experience metrics, and excitement for Expo2020 – the world’s greatest show – which will open its doors to global ...

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• 1 January

  Emirates expects peak travel period at start of 2020

  

  Dubai / Emirates Business Travel is expected to reach another peak towards the end of this week for Emirates, as the airline expects yet another busy period with outbound travel after New Year’s celebrations and inbound traffic to take advantage of the Dubai Shopping Festival. The busiest days anticipated are January 1-4. Emirates reminds customers to arrive at the airport ...

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• 1 January

  Asia’s richest man unveils online store in challenge to Amazon

  

  Bloomberg Reliance Industries Ltd. started testing its online shopping portal, moving a step closer to billionaire Mukesh Ambani’s goal of setting up a digital platform to take on e-commerce giant Amazon.com Inc. in India. JioMart, open to select customers who pre-register, promises more than 50,000 grocery products, free home delivery and a return policy that asks no questions. Labeled ‘the ...

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• 1 January

  NWP buys 5 Lippo shopping malls in Indonesia for $124mn

  

  Bloomberg NWP Retail, a shopping mall developer backed by Warburg Pincus LLC, will spend $123.5 million buying five Lippo shopping malls in Indonesia. Two shopping malls will be acquired from the Indonesian units of Singapore-listed Lippo Malls Indonesia Retail Trust for $92 million while another three will be bought for $31.5 million from entities owned by PT Multipolar. The acquisitions ...

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• 1 January

  Winter storms in Midwest delay 500 flights

  Bloomberg Winter storms that delivered cold rain and ice to much of the Northeast and snow to the Midwest left more than 100,000 homes and businesses without power and caused more than 500 flight delays. The storms also produced treacherous road conditions, reduced visibility and knocked down power lines in an area that stretched from North Dakota, Minnesota and northern ...

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December, 2019

• 30 December

  Special stamps mark 110 years of UAE’s postal services

  

  Dubai / WAM Postal services in the UAE have spanned over a century, connecting near and far. Marking the occasion, Emirates Post has issued a series of commemorative stamps to celebrate 110 years of postal services in the country. The first postal agency opened in the Emirate of Dubai on 19th August 1909. It was initially affiliated to and managed ...

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• 30 December

  RAK to create history with fireworks show

  

  RAS AL KHAIMAH / WAM This year, Ras Al Khaimah is ready to create history with its fireworks show as part of the New Year’s Eve celebrations that will feature two record-breaking bids: the use of the most unmanned aerial vehicles launching fireworks simultaneously (190) and the spell-binding sight of the “longest firework firewall”. Preparations have entered the final stages ...

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