September, 2019

• 14 September

  J Crew planning public offering of Madewell denim brand

  

  Bloomberg J Crew Group Inc plans to spin off its Madewell denim chain in a public offering, the company announced in a filing, five months after announcing it was considering such a move. The number of shares to be offered and the price range for the proposed offering haven’t yet been determined, according to the filing. The amount of the ...

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• 11 September

  UAE condemns Netanyahu’s plan to annex Jordan Valley

  

  Abu Dhabi / WAM The United Arab Emirates has expressed its strong condemnation and categorical rejection of an announcement by Israeli Prime Minister Benjamin Netanyahu on the planned annexation of land from the occupied West Bank to Israel in the event of an election win. HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stated ...

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• 11 September

  Opec, allies meet in Abu Dhabi with deeper cuts off agenda

  

  Bloomberg Ministers from Opec+ are gathering in Abu Dhabi with deeper production cuts off the agenda for now, but with a backdrop of growing concern about strength of oil demand as the global economy slows. Crude lurked in the low $60s for most of the summer as escalating tensions between the US and China and increasing fears of a looming ...

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• 11 September

  UAE banks’ three-month deposits hit AED532bn

  

  ABU DHABI / WAM The total value of three-month deposits in UAE banks amounted to AED532bn in July, 2019, a 6.2 percent growth of AED31.22bn as compared to the preceding month. According to the CBUAE’s figures, three-months deposits, which have been steadily growing over the recent months, account for 55.3 percent of total deposits held by UAE banks, driven by ...

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• 11 September

  Ewec, Acwa Power ink desalination plant deal

  

  ABU DHABI / WAM The Emirates Water and Electricity Company (EWEC), signed an AED3.27 billion water purchase agreement, with ACWA Power, a Saudi-based developer, investor and operator of power generation and desalinated water plants. The deal will enable the development of over 900,000 cubic metres per day desalination facility in Taweelah – sufficient to meet the demand of water for ...

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• 11 September

  Deals worth $26 billion signed at fourth China-Arab states expo

  

  BEIJING / WAM A total of 362 deals worth valued at $26 billion have been signed at the fourth China-Arab States Expo, reported the People’s Daily. The expos was held in northwest China’s Ningxia Hui Autonomous Region, with Chinese President Xi Jinping relaying a congratulatory message during the opening ceremony of the event. According to People’s Daily, “Over 2,900 regional ...

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• 11 September

  Aramco picks top banks for mega IPO

  Bloomberg Saudi Aramco has picked a slew of banks to work on its planned initial public offering following intense lobbying by some of the world’s top dealmakers, people with knowledge of matter said. Aramco selected firms including Bank of America Corp., Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley for top ...

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• 11 September

  Emirates Skywards reaches 25m members

  

  Dubai / Emirates Business Emirates Skywards, the award-winning loyalty programme for Emirates and flydubai, has touched a new high – 25 million members. Emirates Skywards is celebrating this key milestone with exciting offers and surprises for its members, starting September 12. This includes 25% discounts on upgrades and reward tickets on selected flights to and from Dubai, a network-wide special ...

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• 11 September

  Etihad Airways, Breitling announce partnership

  

  New York / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, has announced a new partnership with Swiss luxury watchmaker Breitling. With an equal passion for aviation, quality, and precision, Etihad offers a perfect platform for Breitling, who will serve as the airline’s Official Timekeeper. The announcement was made by the airline during New York Fashion ...

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• 11 September

  Qudwa 2019 to host over 40 international speakers

  ABU DHABI / WAM The third edition of Qudwa – a forum that seeks to elevate the teaching profession in the UAE and improve the future of education – is scheduled to be held on October 6 at Manarat Al Saadiyat, Abu Dhabi. The forum, held under the patronage of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of ...

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