March, 2019

• 26 March

  Airbus secures $35bn China deal in fresh blow to Boeing

  

  Bloomberg Airbus SE secured a $35 billion jet deal from China during a state visit by President Xi Jinping to the French capital, dealing a blow to Boeing Co as it grapples with the grounding of its best-selling jet. The mammoth order consists of 290 A320-series narrow-body planes and 10 A350 wide-bodies, Toulouse-based Airbus said after the transaction was announced ...

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• 26 March

  Cathay to buy Hong Kong’s budget carrier

  

  Bloomberg Cathay Pacific Airways Ltd agreed to buy Hong Kong’s only budget carrier to expand into the no-frills market, the South China Morning Post said, citing sources familiar with the matter. An announcement on the acquisition of Hong Kong Express Airways Ltd was expected to be made on Tuesday, the report said, adding that the sources didn’t elaborate on details ...

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• 26 March

  Ascena soars on plan to sell its Maurices chain

  Bloomberg Ascena Retail Group Inc, the owner of Ann Taylor and Dressbarn, soared after announcing it will sell a majority interest in its Maurices Inc chain to a private equity firm. The shares jumped the most in three months on the news. An affiliate of OpCapita LLP will buy a stake in the women’s clothing retailer in a deal valued ...

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• 26 March

  Boeing 737 Max crisis spurs US review of how FAA approves jets

  

  Bloomberg The US Transportation Department is creating a special commission to review how newly designed aircraft are certified, spurred by criticism after two deadly crashes of Boeing Co’s 737 Max. The commission will evaluate how the Federal Aviation Administration (FAA) oversees the process of reviewing and approving new plane models, including the government’s growing use of aircraft manufacturers’ employees to ...

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• 26 March

  As Amazon leads cashless charge, US states push back

  

  Bloomberg Rebecca Esparza works with homeless people and, having once lived in a shelter herself, knows what it’s like to navigate the US economy if you don’t have much money. For most of her clients, cash is king because they lack access to the financial tools many Americans take for granted—checking accounts, debit cards, payment apps. Esparza worries that the ...

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• 25 March

  Mohamed approves AED5.6bn to support R&D in Abu Dhabi

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has approved AED5.6 billion in support of the research and development (R&D) scheme as part of the Ghadan 21 programme. His Highness Sheikh Mohamed bin Zayed directed the ...

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• 25 March

  Adnoc inks exploration deal with Indian consortium

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Monday signed agreements awarding the exploration rights for Abu Dhabi Onshore Block 1 to a consortium of two Indian oil companies, Bharat Petroleum Corporation Limited and Indian Oil Corporation Limited. The award has been endorsed by Abu Dhabi’s Supreme Petroleum Council (SPC) and represents a further deepening of ...

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• 25 March

  Uber set to seal $3.1bn acquisition of Careem

  

  Bloomberg Uber Technologies Inc is set to announce a $3.1 billion cash-and-share deal to acquire its Dubai-based Careem Networks FZ as early as this week, according to people with knowledge of the matter. The US ride-hailing giant will pay $1.4 billion in cash and $1.7 billion in convertible notes for Careem, the people said, asking not to identified because the ...

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• 25 March

  Oil slips on global growth worries

  

  Bloomberg Oil slipped in New York after its biggest loss in three weeks as concerns lingered that a slowdown in global economic growth will erode fuel consumption. West Texas Intermediate futures were down 0.5 percent near $59 a barrel, after losing 1.6 percent. A closely watched gauge of US Treasuries inverted for the first time since 2007, signalling a recession ...

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• 25 March

  UAE credit agency, FAB to support exporters

  

  DUBAI / Emirates Business Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a memorandum of understanding (MoU) with First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest institutions, to assist UAE-based exporters and local businesses in managing their trade finance needs and to support their international expansion ambitions. ...

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