March, 2017

• 7 March

  Gulf mostly down as Emaar hits Dubai, ex-dividends hurt Qatar

  

    DUBAI / Reuters Most Gulf stock markets fell on Tuesday as blue chip Emaar Properties pulled down Dubai and stocks going ex-dividend hit Qatar, although Saudi Arabia closed marginally higher. Dubai’s index slipped 1.5 percent as Emaar lost 3.8 percent after it proposed a cash dividend of 15 percent for 2016, unchanged from the previous year despite a 28 …

  Read More »
• 7 March

  Boeing to build longer 737 Max jets to beat Airbus A321 neos

  

    Bloomberg Boeing Co. is nearing a decision to build a longer 737 Max targeted for trips from Boston to Los Angeles — and fill a gap in its product portfolio that Airbus Group SE is exploiting as it racks up order after order for its A321neo. For one key customer, Air Lease Corp., Boeing’s newest single-aisle plane can’t come …

  Read More »
• 7 March

  Etihad secures IATA certification

  

    Abu Dhabi / Emirates Business Etihad Airways successfully implemented a new booking standard driven by the International Air Transport Association (IATA) that enhances the level of information flow between travel agents and airline reservation systems. The New Distribution Capability (NDC) booking standard has been made possible following successful testing by Etihad Airways with Sabre Airline Solutions in partnership with …

  Read More »
• 7 March

  Gordmans Stores to prepare for bankruptcy filing

  

  Bloomberg Gordmans Stores Inc., a Midwestern department-store chain founded more than a century ago, is preparing to file for bankruptcy, according to people familiar with the matter. The filing could come as soon as this month, said the people, who asked not to be identified because the process isn’t public. Shares of the Omaha, Nebraska-based company have fallen more than …

  Read More »
• 7 March

  Vodafone slams proposed split of Kenyan M-Pesa as ‘ridiculous’

  

    Bloomberg Safaricom Ltd, East Africa’s biggest mobile-phone company, would have to reconsider future investment in Kenya if proposals to break up the company are implemented, the head of mobile money at parent Vodafone Plc said. The company 40 percent owned by Newbury, England-based Vodafone was found to be Kenya’s dominant carrier in a draft report by U.K.-based advisory group …

  Read More »
• 7 March

  Souqplace.com shares insights on e-commerce trends in UAE

  

    Emirates Business Souqplace.com, the first Emirati online marketplace, connecting quality SMEs and artisan products to consumers, during a press meet shared insights on e-commerce and consumer shopping trends, in the UAE. Backed by the Emirati entrepreneur extraordinaire, Ahmed BinSalem Al Dhaheri, Chairman, Virtual Dusk, Souqplace.com aims at providing a platform to the blooming SME space of the UAE to …

  Read More »
• 7 March

  Goldman sees Indonesia luring $5 billion from Japan on S&P

  

    Bloomberg Indonesia is set to attract as much as $5 billion in funds from Japan should S&P Global Ratings raise the nation’s debt rating to investment grade, according to Goldman Sachs Group Inc. S&P will probably lift Indonesia’s debt rating to BBB- within the next six months from BB+, as the government has pushed forward with fiscal reforms, Danny …

  Read More »
• 7 March

  Deutsche bets on ex-Goldman partner in revamp

  

    Bloomberg Marcus Schenck had been itching to work on deals — so much so that the chief financial officer of Deutsche Bank AG would spend one day a week with clients, a habit that didn’t always sit well with colleagues, according to a person familiar with his thinking. Now the former Goldman Sachs Group Inc. partner has a chance …

  Read More »
• 7 March

  Bank Muscat signs $525 million loan

  

    Bloomberg Bank Muscat, Oman’s largest bank by assets, has signed to obtain a $525 million syndicated loan, banking sources said. The three-year facility pays an all-in 170 basis points over the London Interbank Offered Rate, comprising a margin of 155 bps plus 45 bps of bank fees spread over three years. Part of the proceeds of the loan, which …

  Read More »
• 7 March

  Morgan Stanley venture to review contracts in Barratt probe

  

    Bloomberg A venture between Barratt Developments Plc and a real estate fund managed by Morgan Stanley is reviewing contracts for a 770-home project in east London amid a fraud probe at the homebuilder, according to a person familiar with the situation. The venture is exploring whether any Barratt employees were paid bribes to award subcontracts to some suppliers, the …

  Read More »