June, 2019

• 24 June

  Lufthansa details its dividend policy, Eurowings revamp

  

  Bloomberg Deutsche Lufthansa AG adjusted its dividend policy and unveiled a revamp of its money-losing Eurowings arm in a bid to soothe investor worries a week after issuing a second profit warning this year. Europe’s biggest airline will rebase the dividend to 20 percent to 40 percent of adjusted net income, a measure a spokesman said would provide flexibility for ...

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• 24 June

  Uniqlo owner considers paying star employees $280,000 after 3 years

  

  Bloomberg Asia’s largest retailer is hoping that a $280,000 annual salary and a managerial title in three years will lure top talent as | it grapples with one of the tightest labour markets in Japanese history. The salary being considered by Uniqlo owner Fast Retailing Co would be more than three times the average pay at the company, and nearly ...

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• 24 June

  EVA Air cancels flights as attendants go on strike

  

  Bloomberg A flight attendants strike has forced Taiwan’s EVA Airways Corp to cancel hundreds of flights, just as the peak summer vacation season starts to get under way. The airline will scrap a total of 852 flights in the eight days to June 28, an EVA Airways spokesperson said by text message on Monday. Flights between Taipei and Hong Kong ...

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• 24 June

  Delta buys stake in Korean Air in boost to family owners

  

  Bloomberg Delta Air Lines Inc bought a stake in the parent of its joint-venture partner Korean Air Lines Co, deepening a push into Asia and bolstering the controlling family in its face-off with activist investors. The Atlanta-based airline acquired 4.3 percent of Hanjin Kal Corp, Korean Air’s largest shareholder, and expects to boost the holding to 10 percent over time, ...

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• 23 June

  Tensions in Gulf can only be addressed politically: UAE

  

  Bloomberg The United Arab Emirates called for de-escalation and a political solution to the tensions gripping the Gulf region after US President Donald Trump abruptly called off a plan for airstrikes against Iran. “Tensions in the Gulf can only be addressed politically,” the UAE’s minister of state for foreign affairs, Anwar Gargash, said on Twitter on Sunday. Tensions are boiling ...

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• 23 June

  Chinese investments in UAE real estate to surge 70%

  

  DUBAI / Emirates Business Chinese investments in the UAE real estate sector is set to surge in the coming months and will grow over 70 percent during 2019, reinforcing the growth potential on offer in the country, according to Fidu Properties, one of the leading Chinese companies in the UAE property market. Chinese investments have gone up 64 percent between ...

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• 23 June

  UAE economy grows by 2.2% during first quarter

  

  ABU DHABI / WAM The non-oil sector grew 1.6 percent in Q1-2019 on year, with economic growth hitting an annual growth rate of 2.2 percent driven by a robust government and private sector performance, according to Central Bank of UAE’s Quarterly Review. The real gross domestic product is projected to grow by 2 percent over the coming period, catalysed by ...

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• 23 June

  Gulf spreads may fall as Trump favours Iran sanctions over attack

  

  Bloomberg Investors in Gulf assets breathed a sigh of relief after US President Donald Trump showed restraint against Iran. Calling off airstrikes and opting for additional sanctions on Iran eases the risk of military combat between the Persian nation and its Arab neighbours, and will probably have a positive impact on GCC spreads, according to Arqaam Capital Ltd. “While GCC ...

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• 23 June

  DMCC sees 12% growth in new companies last year

  

  Dubai / WAM The Dubai Multi Commodities Centre (DMCC) has welcomed 1,868 new companies to its free zone in 2018, marking a 12 percent growth compared to 2017. The construction of Uptown Dubai, DMCCs new district, is also well underway to accommodate the demand for additional space, DMCC announced. “We have established our position as the preferred free zone for ...

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• 23 June

  Dewa seeks to boost energy ties with Sweden

  

  DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), received a Swedish delegation, where they held meetings to expand cooperation and knowledge exchange in the sustainability, water and energy sectors. Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, welcomed the high-level delegation from the Swedish Council for Trade and Investment, headed by Henrik Landerholm, Ambassador of Sweden to ...

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