July, 2019

• 22 July

  BA seeks injunction to block pilot strikes

  

  Bloomberg British Airways (BA) is preparing to go to court to block a potential walkout by its pilots at the height of the busy summer travel season. The airline, a unit of IAG SA, was expected to the UK’s high court on July 23 to seek an injunction against the British Airline Pilots Association, known as Balpa, should members vote ...

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• 22 July

  Sainsbury teams up with Deliveroo on pizza parcel

  

  Bloomberg J Sainsbury Plc is joining forces with Deliveroo to speed hot pizza to UK consumers’ living rooms. Customers in London, Birmingham, Brighton and Cambridge, England, will also be able to order snacks and drinks from the supermarket chain as part of the two-month trial. It’s one of the first steps Deliveroo has taken since Amazon.com Inc in May led ...

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• 22 July

  JC Penney says no advisers hired for bankruptcy filing

  

  Bloomberg JC Penney Co, the struggling department-store chain, said it’s taking measures to improve its financial health but assured investors that it hasn’t hired advisers to prepare for a restructuring in bankruptcy court. “We have no significant debt maturities coming due in the near term, and we continue to maintain a strong liquidity position,” the company said in a statement. ...

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• 22 July

  Thailand’s aCommerce raises another $10m

  Bloomberg aCommerce, a Bangkok-based startup that helps brands such as Samsung, L’Oreal and Unilever sell their products online across Southeast Asia, has raised more than $10 million from existing investors including KKR & Co. KKR’s Emerald Media, investment house Blue Sky, DKSH Holding AG and an arm of Indonesian conglomerate Sinar Mas also took part in the company’s latest funding ...

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• 22 July

  American luxury grocer struggles to survive as sales fall

  

  Bloomberg Dean & DeLuca, the gourmet grocer whose trend-setting New York store introduced Americans to international delicacies more than four decades ago, is struggling to hold on amid stalling sales and a cutthroat competitive landscape. Some shelves at its flagship store are bare, and suppliers have gone to court over unpaid bills. Other US locations have been shut, leaving Dean ...

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• 21 July

  DWTC events contribute AED13.1b to Dubai GDP

  

  DUBAI / WAM Dubai’s economy continues to experience sustained growth from the contribution of business tourism, thereby driving the nation’s economic diversification agenda prioritised in the UAE Centennial 2071 strategy. As such, the Dubai World Trade Centre’s (DWTC) latest economic impact assessment report for 2018 saw a record AED13.1 billion, equivalent to 3.3 percent of the emirate’s gross domestic product ...

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• 21 July

  Adnic gets ‘UAE’s top corporate insurance service provider’ tag

  ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), has been adjudged ‘most outstanding in corporate insurance services — UAE’ by the Corporate LiveWire Innovation and Excellence Awards 2019. The Innovation and Excellence Awards are organised by Corporate LiveWire, a quarterly publication based in the UK, which provides information and analysis on the latest global developments to business professionals ...

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• 21 July

  China mulls buying US agricultural products

  

  Bloomberg China’s importers have started making arrangements to buy US agricultural products, Global Times’s Editor-in-Chief Hu Xijin said in a tweet, without specifying where he got the information. The possible purchase of American farm products — which adds to recent gestures of goodwill between both sides — also indicates US-China trade talks will restart soon, according to the tweet. Senior ...

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• 21 July

  Emirates NBD plans further Saudi expansion

  RIYADH / WAM Emirates NBD announced plans for further expansion in the Kingdom of Saudi Arabia following approval from the Saudi Arabian Monetary Authority, SAMA, to open 20 additional branches in the Kingdom. The announcement reflects KSA’s growing importance to Dubai’s biggest bank by assets as the United Arab Emirates continues to strengthen long-standing strategic and economic ties with the ...

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• 21 July

  Foreign investor purchases at DFM reach AED1b in H1

  

  DUBAI / WAM The Dubai Financial Market (DFM) announced its financial results for the first half of the year ending on June 30, registering a net profit of AED65.1 million. The net profit of the second quarter of 2019 reached AED37 million, a nine percent increase compared to the profits in Q2 of 2018 at AED33.9 million. “During the first ...

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