January, 2017

• 12 January

  Freeze hits electricity markets as Greece halts exports

  

    Bloomberg The unusually cold weather and heavy snowfall that sowed panic in southeastern European power trading this week continued to pressure prices as Greece stopped exporting electricity and neighboring Bulgaria plans to follow suit. While day-ahead power prices from Hungary to Bulgaria fell for a second day from Tuesday’s records, they remained above usual levels as the cold weather …

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• 12 January

  Boeing jumbo-jet era ends in US as United retires 747 fleet

  

    Bloomberg United Airlines plans to fly its last Boeing Co. 747 jumbo jet late this year, retiring its largest airplanes a year ahead of schedule as the iconic aircraft glides into the sunset. The decision marks the end of an era for US airlines, which have relied on the humpbacked 747 to bring jet travel to a mass consumer …

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• 12 January

  Tesco sales growth hits five-year high

  

    Bloomberg UK supermarket leader Tesco Plc posted its strongest quarterly sales growth in more than five years and said it had a good Christmas as the grocer continues its revival under Chief Executive Officer Dave Lewis. Sales at UK stores open at least a year rose 1.8 percent in the 13 weeks ended Nov. 26, the Welwyn Garden City, …

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• 12 January

  Sainsbury’s shares surge as Christmas sales ease concerns

  

    Bloomberg J Sainsbury Plc shares surged the most in more than a year after better-than-expected holiday sales provided a positive cap to an otherwise disappoin- ting year, continuing the supermarket sector’s strong Christmas run. The stock rose as much as 7.1 percent — the steepest intraday gain since Jan. 5 last year — after same-store sales at Sainsbury supermarkets …

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• 12 January

  M&S rebounds as clothing sales top estimates

  

    Bloomberg Marks & Spencer Group Plc (M&S) reported its best clothing sales in more than five years, delivering a confidence boost to the embattled British retailer after a tumultuous year marred by management overhauls, store closures and plunging shares. Same-store sales in its clothing and home division rose 2.3 percent in the third quarter ended Dec. 31, the London-based …

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• 12 January

  Turkey’s Central Bank plans to tighten liquidity to prop up lira

  

    Bloomberg Turkey’s central bank is taking more steps to prop up a tumbling currency by forcing banks to borrow at a higher rate, said a person with direct knowledge of the matter. The lira surged against the dollar. The central bank didn’t offer any funding to local lenders at 8 percent through the one-week repo auction on Thursday, with …

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• 12 January

  NBO Q4 net profit slips 19.9 percent

  

    Bloomberg National Bank of Oman (NBO), the sultanate’s third-largest lender by assets, posted on Thursday a 19.9 percent fall in fourth-quarter net profit, according to Reuters calculations. The lender made a profit of 13.68 million rials ($35.5 million) in the three months to Dec. 31, Reuters calculated based on previous financial statements in lieu of a quarterly breakdown. This …

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• 12 January

  Monte Paschi to become Italy’s biggest nationalized bank

  

    Bloomberg Banca Monte dei Paschi di Siena SpA is set to become Italy’s biggest nationalized bank since the 1930s after its failure to raise funds on the market set a state rescue in motion. Talks are underway between the Italian Treasury and the lender on developing a new business plan. The European Central Bank directed Monte Paschi to raise …

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• 12 January

  Al-Mawarid Bank ups security of data center network

  

    Emirates Business VMware, Inc., a global leader in cloud infrastructure and business mobility, announced that Al-Mawarid Bank is deploying VMware NSX network virtualization to improve security and application continuity, accelerate product innovation through IT automation, and meet stringent regulatory compliance requirements. Al-Mawarid Bank is a fast-growing, Lebanese bank that invests in the latest technologies to stay ahead of the …

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• 11 January

  ADFD’s AED320 million grant to boost Jordan’s infrastructure development

    Abu Dhabi / WAM Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), attended the official opening of the Amman Development Road. The road network connects the capital with the surrounding cities, easing the movement of passengers and goods between Jordan and the countries of the GCC region. In line with the framework of the …

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