May, 2019

• 22 May

  Airbus extends ex-C Series range to challenge Boeing

  

  Bloomberg Airbus SE will enhance the capabilities of the A220 single-aisle jet it acquired last year from Bombardier Inc in a bid to challenge Boeing Co by opening up potential new routes. Airbus will boost the range of the former C Series plane by about 450 nautical miles, sales chief Christian Scherer said in a briefing at the European planemaker’s ...

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• 22 May

  Marks & Spencer to open big food stores, take on supermakets

  

  Bloomberg Marks & Spencer Group Plc plans to open more large food stores, shifting away from a strategy of expanding smaller convenience outlets as it prepares for an alliance with online grocer Ocado Group Plc. The prospect of another costly store revamp as profit falls weighed on the UK retailer’s shares, which declined as much as 5.4 percent on Wednesday. ...

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• 22 May

  Dressbarn clothing chain to close after attempted sale

  

  Bloomberg Ascena Retail Group Inc will start winding down its Dressbarn clothing chain, the latest upheaval in a continued retail shakeout. After trying to find a new owner, Ascena said that it’s preparing to close the approximately 650-store chain. No timeline was given, and stores will remain open until the wind-down commences. Ascena, whose brands have come under pressure as ...

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• 22 May

  Ashley’s Sports Direct divests stake in MySale

  Bloomberg Mike Ashley’s Sports Direct International Plc sold its stake in MySale Group Plc after the Australian fashion website withdrew from the UK market, another setback for the billionaire UK retailer. The sports retailer sold its 4.8 percent holding for an undisclosed amount, according to a regulatory filing. MySale shares began selling at $2.91 in June 2014, which would have ...

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• 22 May

  Southwest Air mechanics ratify deal after six years of talks

  

  Bloomberg Southwest Airlines Co mechanics approved a new contract that provides pay increases and a retroactive bonus, closing out more than six years of negotiations that included a lawsuit and an alleged worker slowdown. The five-year agreement won 95 percent support from the Aircraft Mechanics Fraternal Association (AMFA), the union said. About 94 percent of eligible voters participated. The approval ...

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• 21 May

  Mohammed unveils UAE permanent residency scheme

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the ‘Golden Card’ scheme to grant permanent residency benefits to investors, entrepreneurs, specialised talents, researchers, and outstanding students. The Golden Card offers unprecedented benefits to the cardholders and their families, while creating an attractive environment ...

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• 21 May

  Trade tensions derailed global economy: OECD

  

  Bloomberg Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the Organisation for Economic Co-operation and Development’s (OECD) latest outlook. The report sticks to the gloomy tone long held by the Paris-based organisation, which has warned that trade disruptions could ricochet throughout the world economy. Now that scenario has come ...

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• 21 May

  UAE-US partnership ‘crucial to maintaining regional stability’

  

  ABU DHABI / WAM The UAE and the US are bound by common interests and values and share similar views on a wide range of issues. The two countries share the same perception and face some common threats, and have managed to build a very strategic relationship at all levels over the years, former US Secretary of Defense James Mattis ...

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• 21 May

  Central bank M3 reaches AED1.636trn

  ABU DHABI / WAM The Central Bank of UAE’s monetary aggregates, which include currency in circulation outside banks plus monetary deposits and quasi-deposits and government deposits, referred to as M3, increased 0.2 percent by the end of April, hitting as much as AED1.636 trillion against an amount of AED 1.632 trillion recorded the month before, according the UAE Monthly Monetary ...

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• 21 May

  UAE investors most optimistic in world as markets rebound

  

  Dubai / Emirates Business High net worth individuals and business owners globally are optimistic and looking for opportunities to invest as markets rebound in 2019, according to UBS Global Wealth Management’s new quarterly Investor Sentiment survey. The survey, which polled more than 3,600 wealthy investors and entrepreneurs in 17 countries, including the UAE, points to a rebound in bullish sentiment ...

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