July, 2019

• 30 July

  Ryanair CEO takes swipe at Boeing over Max jet delays

  

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary harangued Boeing Co over the grounding of the 737 Max jet, saying he’s concerned the Irish carrier will receive zero planes by summer 2020. Ryanair, Boeing’s biggest European customer for the Max, has already slashed its estimate for the number of aircraft likely to be available for next year’s peak season. ...

  Read More »
• 30 July

  South Africa’s Shoprite rises most since 1997 after gains

  

  Bloomberg Shoprite Holdings Ltd rallied the most in 22 years after Africa’s largest food retailer said second-half sales climbed as it took market share. Sales in the second half rose 6.5 percent as its core South African business returned to full operational strength, the Cape Town-based supermarket operator said in a statement. The owner of chains including Checkers and U-Save ...

  Read More »
• 30 July

  UK consumer credit increases over spending

  

  Bloomberg UK demand for unsecured debt stabilised last month while mortgage approvals increased, Bank of England figures show. While households have been tightening their belts this year as Brexit clouds the outlook, the June figures suggest consumers, the mainstay of economic growth, are still willing to spend. Retail sales unexpectedly surged after two months of declines, ONS figures showed. Mortgage ...

  Read More »
• 30 July

  Primark seeks rent cuts after rival insolvencies

  

  Bloomberg Primark is asking landlords to cut its rents in an attempt to compete with rivals that used insolvency proceedings to reduce costs and remain open, the Sunday Times reported, without saying where it got the information. The fast-fashion retailer is asking for cuts of as much as 30 percent on contracts with several years left in exchange for lease ...

  Read More »
• 30 July

  Beyond Meat stock falls on plan to sell more shares

  

  Bloomberg Beyond Meat Inc plummeted 11 percent on a plan by inside shareholders and the faux-meat company to sell more than 3 million shares, just three months after it went public. The transaction will let early investors such as Kleiner Perkins and Obvious Ventures and executives including Chief Executive Officer Ethan Brown take profits on a small portion of their ...

  Read More »
• 29 July

  Mubadala invests AED70b across key sectors in 2018

  

  ABU DHABI / AGENCIES Abu Dhabi’s Mubadala Investment Company on Monday released its full-year 2018 annual review showcasing operational performance and significant scale across sectors with strong growth potential. Despite global macroeconomic turbulence in the fourth quarter of the year, the group delivered stable financial results, with total comprehensive income at AED12.5 billion. In line with Mubadala’s strategy to diversify ...

  Read More »
• 29 July

  UAE Central Bank’s balance of deposit certificates hits $42b

  

  Abu Dhabi / WAM The balance of the UAE Central Bank’s deposit certificates rose to record levels during the first half of 2019, reaching around AED155.8 billion at the end of June, according to statistics issued by the bank highlighting its policy of withdrawing surplus liquidity. The value of surplus liquidity withdrawn in June amounted to around AED8.8 billion. The ...

  Read More »
• 29 July

  UAE signs visa-waiver pact with Equatorial Guinea

  ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) announced signing of a mutual entry visa exemption agreement between UAE and Equatorial Guinea, which come into force from July 28. The agreement stipulates that UAE citizens may travel to Equatorial Guinea and stay up to 90 days without requiring pre-entry visa. It also stipulates that holders ...

  Read More »
• 29 July

  China feasts on record Saudi oil imports amid Iran sanctions

  

  Bloomberg China has tapped Saudi Arabia for a record volume of crude as the world’s biggest exporter plugs a shortage from sanctions-hit Iran. Asia’s biggest buyer shipped 7.72 million metric tonnes of crude, or 1.89 million barrels a day, from Saudi Arabia last month, according to data from China’s General Administration of Customs. Shipments from the Opec producer made up ...

  Read More »
• 29 July

  Sheikh Mohamed’s visit to China a success on all fronts

  

  BEIJING / WAM Dr Ali Obaid Al Dhaheri, Ambassador of the UAE to China has said that the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China, has achieved many political, economic and cultural successes. In an exclusive interview with the Emirates News ...

  Read More »