September, 2019

• 17 September

  Airports Company SA profit falls on weak economy, costs

  Bloomberg Airports Company South Africa’s full-year profit fell 59 percent to $15.4 million as a weak economy and cost pressures constrained revenue growth. The company, which manages South Africa’s major airports, reported a 4.6 percent decline in earnings before interest, tax, depreciation and amortisation to 2.8 billion rand, despite a 5.6 percent increase in revenue to 7.1 billion rand, Acting ...

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• 17 September

  United, Expedia end e-ticket sales feud

  Bloomberg United Airlines Holdings Inc and Expedia Group Inc reached a deal to continue online ticket sales, ending a standoff in which the airline had threatened to withdraw from one of the internet’s largest travel sellers. The agreement covers a multiyear period, the companies said in a statement without specifying how long it would last or disclosing other terms. United, ...

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• 17 September

  Walmart revives defunct fashionista brand Scoop

  

  Bloomberg Walmart Inc’s quest to go upmarket has now taken the red-state retailer to the streets of Manhattan. The company has revived the defunct Scoop label and will position it as a private fashion brand, Walmart’s online fashion chief Denise Incandela said in a statement. Walmart’s website and some stores will carry more than 100 items including tops, shoes and ...

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• 17 September

  Sheikh Mohamed, Saudi crown prince discuss consolidating ties

  ABU DHABI / WAM The United Arab Emirates stands with Saudi Arabia in confronting all menacing threats to its security and stability, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said. His Highness Sheikh Mohamed made the statements in a phone call with His Royal Highness ...

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• 17 September

  Oil prices jump most on record after Saudi strike

  

  Bloomberg Oil surged the most ever after a strike that wiped out about half of Saudi Arabia’s output capacity heightened concern about more destabilisation in the world’s most important crude-producing region. In an extraordinary start to trading on Monday, London’s Brent futures leaped almost $12 in the seconds after the open, the most in dollar terms since their launch in ...

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• 17 September

  Europe urges Trump to settle trade dispute

  

  Bloomberg Despite European efforts to avoid an escalation in trade tensions with the US, a tit-for-tat tariff battle over illegal aircraft subsidies is in the offing, according to the European Union’s chief trade negotiator. “Our view is that we have enough tariffs in the world as it is, so imposing tariffs on each other, which strictly speaking we are allowed ...

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• 17 September

  Gross output of water, wastewater, electricity sector hits AED55.8bn

  

  ABU DHABI / WAM The gross output of the water, wastewater and electricity sector grew 2.7 percent in 2018 to AED55.8 billion as compared to AED54.3 billion in the preceding year, according to the figures of the Federal Competitiveness and Statistics Authority. The growth is driven by the continuing population growth, with the government continuing to fine efficient alternatives through ...

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• 17 September

  Rak Petroleum records $65.7mn income in H1

  

  OSLO / WAM Oslo-listed RAK Petroleum has announced a consolidated net comprehensive income of $65.7 million for the half-year to June 30, compared to a net comprehensive income of $166.4 million for the full year 2018. RAK Petroleum’s main assets are holdings in DNO, also listed in Oslo, and privately-held Foxtrot International. RAK Petroleum owns 40.45 percent of DNO, a ...

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• 17 September

  UAE, Saudi dispatch 200,000 tonnes of wheat to Sudan

  ABU DHABI / WAM The UAE and Saudi Arabia on Monday confirmed that the third batch comprising 200,000 tonnes of wheat has been dispatched to Sudan, meeting the needs of the population for this strategic commodity. In April 2019, the UAE and Saudi Arabia announced their commitment to providing 540,000 tonnes of wheat to enhance food security in Sudan. Last ...

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• 17 September

  DIEDC partners with DIFC, DFM, CBI to grow green sukuk market

  

  DUBAI / Emirates Business Dubai Islamic Economy Development Centre (DIEDC) on Monday signed a memorandum of understanding (MoU) with the Dubai International Financial Centre (DIFCA), the Dubai Financial Market (DFM), and Climate Bonds Initiative (CBI) to collaborate on growing the green sukuk sector and stepping up the exchange of knowledge and expertise in the field. The MoU signing took place ...

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