April, 2019

• 28 April

  Amazon pledges one-day delivery in US

  

  Bloomberg Amazon.com Inc will spend $800 million in the current quarter to reduce delivery times for top customers to one day from two, trying to revive its main e-commerce franchise and ward off greater competition. The announcement came after the online retailer reported first-quarter profit that exceeded analysts’ estimates, demonstrating the company’s focus on cloud-computing, advertising, and other high-margin businesses ...

  Read More »
• 28 April

  FAA to convene regulators’ summit on 737 Max safety

  

  Bloomberg The US Federal Aviation Administration (FAA) next month will brief international aviation regulators on the agency’s work evaluating when the Boeing Co 737 Max can return to service, which some countries have signalled they intend to decide on their own. The FAA called the May 23 meeting “to provide participants the FAA’s safety analysis that will inform its decision ...

  Read More »
• 28 April

  Carrefour organic food helps cope with ‘woes’

  

  Bloomberg Carrefour SA’s growing sales of organic food helped the French retailer make up for continued weakness in its non-grocery business in the first quarter. Comparable sales rose 2.7 percent to $22.4 billion, the company said, a result that met analysts’ estimates. Growing sales of organic food are boosting Chief Executive Officer Alexandre Bompard’s effort to revamp the company’s sprawling ...

  Read More »
• 28 April

  Southwest CEO hints ‘affair with 737’ may end soon

  

  Bloomberg Southwest Airlines Co built its low-cost model on the efficiencies of flying a single plane, the Boeing Co 737. Now the carrier’s chief executive officer is cracking open the door to the idea that nothing lasts forever. In the aftermath of the second deadly crash of the new Max model and a global grounding of the plane, Southwest CEO ...

  Read More »
• 28 April

  US investigates whistleblower complaints about Boeing 737 Max

  Bloomberg US aviation and congressional officials are investigating allegations by about a dozen whistleblowers that there are safety issues with Boeing Co’s 737 Max aircraft, the Wall Street Journal reported, citing unidentified government employees familiar with the matter. Some of the claims relate to the design of a suspect flight-control feature or operation of specific sensors that are key to ...

  Read More »
• 27 April

  Qatar withdraws measures established against UAE

  GENEVA / WAM Qatar has decided to withdraw its measures against the UAE in a significant concession aimed at averting the consequences of the UAE’s case in WTO against an illegal Qatari ban on UAE goods and services. During a session of the Dispute Settlement Body (DSB) of the WTO, on Saturday, to examine the UAE’s request to set up ...

  Read More »
• 27 April

  Oil bulls on longest run in 13 years amid supply woes

  

  Bloomberg Oil is on its longest bull run in 13 years. Hedge funds have increased bullish sentiment on US crude prices for the last nine weeks, the longest such run since 2006, according to data. Almost 14 times as many bets have been placed on prices going up as on a decline, as investors see supply threats multiplying around the ...

  Read More »
• 27 April

  UAE-UK non-oil foreign trade hit AED42.69 billion in 2018

  

  London / WAM The volume of foreign trade in non-oil goods between the UAE and the UK was estimated at approximately 9 billion pounds (AED 42.69 billion) in 2018, recording a growth rate of 10 percent over the previous year, according to a senior UAE official. Mohammed Bin Abdul Aziz Al Shehhi, Undersecretary of Economic Affairs in the Ministry of ...

  Read More »
• 27 April

  Arab Bank Group profit up 5.2%

  Emirates Business Arab Bank Group announced its results for first quarter of 2019 reporting 5.2% growth in net profit after tax of $231.8 million as compared to $220.3 million in 2018, with net income before tax increasing by 9.1% to reach $312.8 million. Group equity stood at $ 8.5 billion, while loans increased to $25.8 billion and deposits to $33.7 ...

  Read More »
• 27 April

  Shbib projects her sales to grow by 30% every year

  Dubai / Emirates Business After gaining a comfortable foothold in the French market High fashion label Sakina Paris has projected her sales to grow by 30 percent every year. It can be seen that a large part of the multibillion dollar Middle East fashion market is dominated by the international brands mostly from the countries like USA, UK, France and ...

  Read More »