September, 2019

• 18 September

  Ocado’s retail business grows as company focuses on tech

  

  Bloomberg Ocado Group Plc‘s retail business keeps steaming ahead as the UK online grocer counts down a year to the launch of its partnership with Marks & Spencer Group Plc. Retail revenue grew 11 percent for the 13 weeks through September 1, even though the average order size was down slightly. The company kept its projection for 10 percent to ...

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• 18 September

  US’s retail holiday sales poised to rise

  Bloomberg Holiday retail sales will increase by 4.5 percent to 5 percent to more than $1.1 trillion this year as a strong US job market offsets concerns about an economic slowdown and the trade war with China, according to Deloitte. “Near record-low unemployment rates, coupled with continued monthly job creation, may encourage people to spend more during the holiday season,” ...

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• 18 September

  Kenya Air puts CFO on ‘leave’

  Bloomberg Kenya Airways Plc sent acting Chief Financial Officer Hellen Mwariri on compulsory leave, according to three people with knowledge of the matter. Mwariri is under investigation by the board for allegedly leaking sensitive company information, two of the people said. She did not respond to a text message request for comment and calls to her mobile phone didn’t connect. ...

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• 18 September

  Forever 21 in talks to give landlords a stake in bankruptcy

  

  Bloomberg Forever 21 Inc is in discussions to give a stake in the company to its two largest landlords as part of a restructuring that would allow co-founder Do Won Chang to retain a share, according to people familiar with the matter. The ailing fast-fashion retailer is in talks with Simon Property Group Inc and Brookfield Property Partners LP about ...

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• 17 September

  UAE Government Leaders Programme opens registration for UAE nationals

  

  DUBAI / WAM The UAE Government Leaders Programme is inviting UAE nationals to register for its 2020 cohort across three categories – Executive Leaders Programme, Future Leaders Programme, and UAE Youth Leaders Programme. UAE citizens employed within local and federal government entities and eligible private sector companies can apply online via www.uaeglp.gov.ae until end of September. The program also accepts ...

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• 17 September

  Abu Dhabi trade in pearls, gemstones hits AED8.2b

  

  Abu Dhabi / WAM Abu Dhabi’s trade in pearls, precious stones and metals totalled AED8.2 billion in the first half of 2019, highlighting the ongoing robust activity in this trade sector, which is the oldest in the UAE. According to figures issued by the Statistics Centre-Abu Dhabi (SCAD), the trade-in pearls, precious stones and metals accounted for 7.8% of Abu ...

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• 17 September

  Emaar signs final terms for $500m sukuk

  DUBAI / WAM Emaar Properties said on Tuesday it has signed final terms related to the issuance of a AED 1.84 billion ($500 million) Trust Certificates. Emaar said in a statement published on Dubai Financial Market website that the issuance is part of its $2 billion Trust Certificate Issuance Programme. The announcement of the 10-year sukuk carry an annual return ...

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• 17 September

  Oil plunges on report Saudis may soon resume 70% of lost output

  

  Bloomberg Oil plunged more than 6% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production lost after this weekend’s attack. Brent crude dropped as low as $64.48 per barrel on the report, which cited an unidentified Saudi source saying it would return to full production in the next two to three weeks. Saudi ...

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• 17 September

  UAE takes part in IAEA general conference

  

  VIENNA / WAM The United Arab Emirates is taking part in the annual week-long General Conference of the International Atomic Energy Agency (IAEA), at the organisation’s headquarters in Vienna, Austria. The UAE delegation, led by Hamad Al Kaabi, UAE Permanent Representative to IAEA, includes various national stakeholders in the nuclear industry such as the UAE’s Federal Authority for Nuclear Regulation ...

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• 17 September

  DIFC strengthens partnerships with European financial centres

  

  DUBAI / Emirates Business Dubai International Financial Centre (DIFC), the leading financial hub in Middle East, Africa and South Asia (Measa) and home to largest, most advanced financial innovation ecosystem in the region is continuing to drive the future of finance and explore opportunities for strategic collaboration between the centre and key European hubs to accelerate sustainable growth. The centre ...

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