May, 2019

• 25 May

  United seeks to oust Avianca chairman after JV agreement

  

  Bloomberg United Continental Holdings Inc is seeking to oust Avianca Holdings SA’s chairman and largest shareholder, just six months after the two airlines agreed to form a joint venture. The Colombian carrier’s stock jumped the most in nearly three years. The US airline took legal action in Bogota on a defaulted $456 million loan it made to Avianca Chairman German ...

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• 25 May

  Bali flights cancelled after Mount Agung volcano eruption

  

  Bloomberg Indonesia cancelled flights to and from the nation’s main resort island of Bali after the Mt Agung volcano erupted late on May 24. “Currently flights to and from I Gusti Ngurah Rai Airport have been cancelled.” Polana Pramesti, director general of civil aviation, said on the ministry’s Twitter page. “We will continue to update the latest condition on the ...

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• 25 May

  Taco Bell plans big expansion in India

  Bloomberg Taco Bell has set its sights on bringing more Mexican food to India, the third-largest consumer market in the world, as the fast food chain seeks new drivers of growth outside of the slowing US market. The Yum! Brands Inc unit is planning 600 restaurants in the Asian nation over the next decade with master franchisee Burman Hospitality. That’s ...

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• 25 May

  US not rushing Boeing 737 Max back to flight: FAA chief

  

  Bloomberg US aviation regulators won’t be rushed and have no timeline on when to return Boeing Co’s grounded 737 Max jet to flight, an official said as the government prepares to hold discussions with dozens of other nations on the plane’s fate. Federal Aviation Administration acting chief Daniel Elwell said the agency’s technical experts will leave “no stone unturned” as ...

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• 25 May

  Massmart names Walmart veteran Mitchell Slape as CEO

  

  Bloomberg Massmart Holdings Ltd fell the most in three months as the troubled South African retail chain warned on profit and majority shareholder Walmart Inc sent one its own to help stem declines. Earnings may drop as much as 50 percent in the first five months of the year compared with a year ago, Massmart said, when the company also ...

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• 22 May

  Sheikh Zayed an icon of tolerance, humanitarian giving: Sultan bin Zayed

  

  ABU DHABI / WAM HH Sheikh Sultan bin Zayed Al Nahyan, the President’s Representative, said that the late Sheikh Zayed bin Sultan Al Nahyan was an exceptional leader and an icon of tolerance and humanitarian giving. In a statement marking Zayed Humanitarian Work Day, Sheikh Sultan bin Zayed said that the Founding Father established a tolerant country that gained global ...

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• 22 May

  Aramco inks 20-year US LNG deal with Sempra Energy

  

  Bloomberg Saudi Aramco agreed to a buy a stake in Sempra Energy’s Texas LNG export terminal, giving the world’s biggest oil exporter a foo-thold in the fast-growing global gas trade. The proposed deal, which also includes an agreement to buy gas from the plant, would mark Aramco’s first entry into production of oil or gas outside Saudi Arabia. Aramco can ...

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• 22 May

  DP World chief, Brazil minister discuss FDI engagement

  

  DUBAI / WAM Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met with DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia. They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Bin Sulayem’s discussions with President ...

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• 22 May

  Tata faces $14bn in auto debt, slowdown in China

  

  Bloomberg Signs of a turnaround at its marquee Jaguar Land Rover unit may not be enough to ease the challenges facing India’s oldest and most-storied business empire. The Tata Group bought the British luxury carmaker in 2008 for $2.3 billion, and it’s lately become a drag on the salt-to-software conglomerate, racking up losses in three quarters through December. Although Jaguar ...

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• 22 May

  Sheikh Mohamed attends Abu Dhabi Government’s Ramadan evening

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, attended the Abu Dhabi Government Employees’ Evening, Barzat Abu Dhabi. The Abu Dhabi Government Media Office organised the evening and hosted around 3,400 employees from different government departments, entities and authorities at the Abu ...

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