February, 2019

• 27 February

  Pilot crunch puts Asia travel boom in trouble

  

  Bloomberg An unprecedented travel boom in Asia has spawned new budget carriers and millions of first-time fliers, but a shortage of pilots is threatening to choke that demand. Bamboo Airways Co. in Vietnam was the latest low-cost carrier to start services this year and more are expected to join the race. In Southeast Asia alone, low cost carriers have about ...

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• 27 February

  Costco emerges as consumer favourite while Amazon wanes

  

  Bloomberg Costco Wholesale Corp. may be a latecomer to e-commerce, but consumers love it even more than Amazon.com Inc., according to a customer satisfaction survey released. The warehouse shopping club scored 83 on the annual American Customer Satisfaction Index, edging out Amazon’s score of 82. Amazon had topped the category since 2010, but its score slipped four points compared with ...

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• 27 February

  Farfetch shares soar on pact with Harrods

  

  Bloomberg Farfetch Ltd. shares advanced for a third straight session and hit their highest levels of the year following an e-commerce pact with London-based luxury department store Harrods that may lead to more business from elite retailers. The stock gained as much as 9.4 percent and traded at its highest level since mid-December. Shares of the online retail apparel company ...

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• 27 February

  Air France-KLM plunges most since merger on surprise Dutch stake

  

  Bloomberg Air France-KLM Group fell the most ever after the Dutch government’s surprise decision to buy a stake in the airline raised concern that competing national interests will derail Chief Executive Officer Ben Smith’s efforts to streamline the carrier. The Netherlands purchased a 13 percent holding, a move aimed at gaining parity with influential shareholder France following a power clash ...

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• 26 February

  Adnoc inks three energy deals with Korean firms

  

  SEOUL / WAM During an official visit to the Republic of Korea by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi National Oil Company (Adnoc) has signed three framework agreements with Korean energy companies. The agreements will explore upstream exploration and production opportunities, ...

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• 26 February

  Mubadala Petroleum signs gas project agreement in Thailand

  

  ABU DHABI / WAM Mubadala Petroleum has announced that it signed the Production Sharing Contract (PSC) together with its partner PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTT Exploration and Production Public Company Limited, for offshore Block G1/61 containing the Erawan producing gas field in Thailand. The current Block G1/61 concession will expire in April 2022 and ...

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• 26 February

  UAE-funded textile factory opens in Serbia

  BELGRADE / WAM President Aleksandar Vucic of Serbia has opened the textile factory ‘Armis Luss Protect’ textile factory in the Raska District. The factory was funded by the Khalifa bin Zayed Al Nahyan Foundation. The opening ceremony was attended by the UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri. The Serbian President thanked the UAE and the Khalifa ...

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• 26 February

  Emirates Steel revenue grows 15% in 2018

  

  ABU DHABI / Emirates Business Emirates Steel, the only integrated steel plant in the UAE, and a subsidiary of the General Holding Corporation (Senaat), announced an outstanding set of financial results for 2018. Emirates Steel achieved AED 7.5 billion in revenue in 2018, an increase of 15% as compared to AED 6.6 billion in 2017. In addition, Emirates Steel delivered ...

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• 26 February

  NMC breaks ground on UAE Pavilion at Expo 2019 Beijing

  

  ABU DHABI / WAM Construction works have begun on the UAE pavilion at Expo 2019 Beijing Horticulture announced the National Media Council (NMC), on Tuesday. Taking place from April 29 to October 7, the expo will be held under the theme ‘Live Green, Live Better’ with more than 110 countries and international organisations participating. The NMC is set to shed ...

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• 26 February

  Maduro’s masked thugs unleash terror along border

  

  Bloomberg The masked motorcyclists roared into the border town, shooting pistols in the air. They sent terrified demonstrators racing to cower in doorways or tremble in the homes of strangers. They formed roadblocks to shake down dissidents, and late into the night they prowled debris-strewn streets in deafening patrols. In San Antonio del Tachira, Venezuela, colectivos — gangs loyal to ...

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