June, 2019

• 10 June

  ECB officials fear investors are losing faith in inflation goal

  

  Bloomberg Fears are mounting at the European Central Bank (ECB) that investors are losing faith in the inflation outlook, in a self-reinforcing spiral that could force the institution to dig deeper into its stimulus toolkit. Staff at the euro zone’s national central banks are worried that inflation expectations are becoming “deanchored,” according to officials familiar with the matter. They cited ...

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• 10 June

  UK’s Ocado invests $22m in vertical-farming deals

  

  Bloomberg Ocado Group Plc is investing in a pair of vertical-farming ventures as the UK maker of online retail technologies branches out following its mammoth deal with Marks & Spencer Group. The company said it bought a 58 percent stake in Jones Foods Co, Europe’s largest operating vertical farm, based in Scunthorpe, England. Ocado will use its know-how in automation ...

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• 10 June

  Japan blames F-35 fighter jet crash on pilot disorientation

  

  Bloomberg Japan believes pilot disorientation, rather than technical problems, caused the loss of one of its stealth F-35A fighter jets earlier this year, Kyodo News reported. Findings compiled by Japan’s Air Self-Defense Force said the pilot was ordered to descend to a lower altitude to avoid a nearby US plane during a training session in April. He responded calmly, but ...

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• 10 June

  Amazon pressed over small vendors plans

  

  Bloomberg An influential New York Democrat has written to Amazon.com Inc asking about a report that the company plans to cease wholesale orders from thousands of smaller suppliers. US Representative Nydia Velazquez, chairwoman of the House Committee on Small Business, wrote to Amazon Chief Executive Officer Jeff Bezos asking about the nature of his company’s relationship with small suppliers, whether ...

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• 10 June

  Starbucks to test reusable cups at London airport

  

  Bloomberg Starbucks Corp this month will begin a first-of-its kind trial of reusable cups at London’s Gatwick airport. People drink a lot of coffee at airports. Gatwick says it already recycles a majority of the 7 million disposable coffee cups that travellers use each year. The airport wants to improve on that, and reusable cups potentially have a lower carbon ...

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• 10 June

  Boeing in talks for 100-jet China deal amid trade tensions

  

  Bloomberg Boeing Co has been negotiating one of the largest orders ever of wide-body jetliners with Chinese airlines even as tensions between Washington and Beijing escalate, say people familiar with the talks. The discussions centre on about 100 twin-aisle jets: 787 Dreamliners as well as 777X planes, the newest long-range aircraft in Boeing’s lineup, said one of the people, who ...

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• 9 June

  Trade, geopolitical issues pose biggest risk to world economy

  

  Bloomberg After days of wrangling over the wording of a communique, finance chiefs from the world’s largest economies warned that escalating trade and geopolitical tensions pose the biggest risk to global growth. Officials said that although growth appears to be stabilising, it “remains low and risks remain tilted to the downside,” according to the statement. “Most importantly, trade and geopolitical ...

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• 9 June

  UAE’s non-oil private sector improves in May

  

  Dubai / Emirates Business The headline seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index (PMI) — a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy — rose to 59.4 in May from 57.6 in April. This was the third successive monthly increase in the index, with the latest reading signalling a ...

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• 9 June

  Dewa to develop floating solar power plants in Arabian Gulf

  

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) issued a request for proposal (RFP) for appointing consultants to study, develop and construct floating solar photovoltaic plants in the Arabian Gulf. This is a new and innovative initiative by Dewa to use solar power that supports the objectives of the Dubai Clean Energy Strategy 2050 (DCES 2050) to diversify the ...

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• 9 June

  Warehouse421 announces new programme

  

  ABU DHABI / WAM Warehouse421, Abu Dhabi’s home-grown arts and design centre, has announced its programme for the month of June. The June’s events include the opening of the new exhibition Lest We Forget: The Universality of Family Photographs, workshops on photography and mixed media, as well as the return of the popular ‘Khayal’ reading session for children, and the ...

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