August, 2019

• 17 August

  Sagging German economy hits Deutsche Bank’s revamp

  

  Bloomberg One month into Deutsche Bank AG’s boldest restructuring effort yet, the world has turned against Chief Executive Officer Christian Sewing. Or at least, Germany has. Fears of an economic recession and the specter of even lower interest rates have taken a toll on banks across Europe. But for Sewing, who just pinned his bank’s future on closer ties with ...

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• 17 August

  FAA to reject new simulator training before 737 Max flies

  

  Bloomberg US aviation regulators are increasingly convinced they don’t need to mandate new simulator training for pilots of Boeing Co’s 737 Max before returning the grounded jet to service, according to people familiar with the discussions. Pilots would be required instead to take a computer-based training course they could perform at home or in a classroom, according to the people, ...

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• 17 August

  JCPenney sales in Q2 disappoint; but its CEO optimistic about change

  

  Bloomberg JC Penney Co reported a challenging second quarter, exacerbating investors’ concerns about the health of department stores ahead of the holiday season. Still, its new chief is optimistic the turnaround is starting to take hold. “We are not simply running a business — we are rebuilding a business,” Chief Executive Officer Jill Soltau said. Shares swung between gains and ...

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• 17 August

  Cathay CEO quits after airline caught in Hong Kong protests

  

  Bloomberg Cathay Pacific Airways Ltd’s CEO Rupert Hogg resigned, a week after the carrier was rebuked by China for staff involvement in the anti-Beijing protests rocking Hong Kong. Hogg, 57, quit to take responsibility for the way the airline has responded to recent events, he said in an email to staff obtained by Bloomberg. Hong Kong’s flagship carrier appointed Augustus ...

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• 17 August

  Amazon tests ‘top brand’ label for big-name fashion sellers

  

  Bloomberg Amazon.com Inc is designating products sold by certain companies as “top brands,” a test that if widely implemented could ease tension between the online retail giant and big-name companies used to favourable positioning at brick-and-mortar retailers. The company appended a “top brand” label to products from Speedo, New Balance, Under Armor and Fruit of the Loom in some product ...

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• 14 August

  KhalifaSat captures image of Grand Mosque of Makkah

  

  DUBAI / WAM An image of the Grand Mosque of Makkah was taken by KhalifaSat on the first day of Eid Al Adha during the Hajj pilgrimage of this year. KhalifaSat was fully developed at the Mohammed bin Rashid Space Centre’s facilities by Emirati engineers and was launched into space in October 2018. It has five patents and seven space ...

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• 14 August

  UAE donates clothes, food for Eid in Yemen

  RED SEA COAST / WAM The UAE is continuing to normalise humanitarian conditions and improve the living conditions of Yemenis in all liberated governorates, with ERC distributing clothes and food for Eid to needy families living in the Red Sea Coast. ERC representatives said Eid clothes distribution project covers 700 families in Khawkhawh, Hais and At Tuhayta districts, and included ...

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• 14 August

  Emiratis exempt from pre-entry visa to visit South Africa

  ABU DHABI / WAM Emiratis holding diplomatic, special, mission and ordinary passports are now exempt from pre-entry visas to visit South Africa. According to the South African Department of Home Affairs, UAE was added to visa waiver list, with the possibility of UAE citizens travelling to South Africa to stay for a period up to 90 days effective from August ...

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• 14 August

  Adnec adds AED2.3bn to Abu Dhabi economy in H1

  

  ABU DHABI / WAM The first half of 2019 saw an input of AED2.3 billion into the Abu Dhabi economy, revealed the Abu Dhabi National Exhibitions Company on Wednesday. In a statement, the company said that its Abu Dhabi National Exhibition Centre (Adnec ), and Al Ain Convention Centre (AACC) contributed AED2.3 billion to the Abu Dhabi economy in H1 ...

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• 14 August

  Bank of Sharjah plans to issue dollar bonds

  

  Bloomberg Bank of Sharjah PJSC plans to issue dollar-denominated bonds later this year to help the United Arab Emirates lender repay existing debt, people with knowledge of the plan said. The company wants to raise about $500 million in a sale likely to take place in September or October, according to the people, who asked not to be identified because ...

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