March, 2019

• 5 March

  JetBlue Airways stokes speculation on cheap flights across Atlantic

  

  Bloomberg JetBlue Airways Corp. pumped up speculation that it will announce plans to order long-range aircraft and start trans-Atlantic flights, inviting employees to a special event next month. The carrier said it would hold a “chat about JetBlue’s vision and strategy” on April 10, followed by a party in New York. The announcement spurred a flurry of speculation on social ...

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• 5 March

  Japan’s IHI admits to lapse in aircraft engine inspection

  

  Bloomberg Japanese heavy-machinery maker IHI Corp said employees didn’t properly check so-me aircraft engines, the latest quality-control issue to dent the reputation of the country’s manufacturing sector. Shares of IHI, which makes engine components found on Airbus SE and Boeing Co. jets, dropped as much as 5.2 percent after the company confirmed Japan’s Transport Ministry had inspected its aircraft-engine business ...

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• 5 March

  Sportswear chain Athleta is Gap’s best chance of a future

  

  Bloomberg Gap Inc.’s plans to spin off Old Navy made two things clear: The long decline of its namesake brand is accelerating, and its Athleta chain is its best chance of a future. The company’s signature Gap banner, which turns 50 this year, has posted just one quarterly sales gain in five years. That’s in stark contrast to Athleta, a ...

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• 4 March

  Mena IT spending to reach $160bn in 2019

  

  DUBAI / Emirates Business Middle East and North Africa (Mena) IT spending is projected to reach $160 billion in 2019, a 1.8 percent increase from 2018, according to the latest forecast by Gartner Inc. “In 2019, businesses in Mena are set to increase their IT spending in all segments except for the devices segment,” said John Lovelock, distinguished research vice ...

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• 4 March

  UAE bourses see AED4.45b in realty deals in 2 months

  

  ABU DHABI / WAM The realty sector attracted the largest share of liquidity on the country’s two main bourses during the first two months of the current year. Up to AED4.45 billion of real estate transactions were conducted in January and February, accounting for 24.4 percent of the total trades, valued at AED18.2 billion, according to official figures obtained by ...

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• 4 March

  UAE, US keen to boost banking, finance ties

  

  ABU DHABI / WAM AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, together with CEOs of leading UAE banks, received Sigal Mandelker, the US Under Secretary of the Treasury, and Paul Khuri, the recently-appointed US Treasury Attache to the UAE and the Sultanate of Oman, along with other high-level delegates from the US Treasury. The meeting addressed ways of increasing consultations, ...

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• 4 March

  Oil rises as US, China near trade deal

  

  Bloomberg Oil climbed as the US and China were said to near a deal on trade that would underpin the outlook for crude demand, while supplies around the world showed signs of tightening. Futures in New York rose as much as 1.1 percent after a drop of 2.6 percent last week. The world’s two biggest economies are approaching an accord ...

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• 4 March

  33 firms, entities awarded Dubai Chamber CSR label

  

  Dubai / Emirates Business Dubai Chamber of Commerce and Industry honoured 33 companies for their corporate social responsibility and sustainability efforts in the second half of 2018 during a recognition ceremony recently held at its premises. The Dubai Chamber CSR Label was presented to Landmark Group and United Engineering Construction Company for the first time. Congratulating the awardees for their ...

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• 4 March

  Forward trading at DME grows by 160 percent

  

  Dubai / WAM Dubai Mercantile Exchange (DME), on Monday announced a 160 percent increase year-on-year in trading activity on the exchange’s forward curve. The forward curve represents the value of Oman Blend Crude Oil in future months. Activity in the forward curve happens when customers want to protect themselves against the risk that the price of Oman crude oil will ...

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• 4 March

  dnata Travel voted favourite travel agent

  

  Dubai / Emirates Business dnata Travel has been named “Favourite Travel Agent” at the annual Condé Nast Traveller Middle East Readers’ Choice Awards. The awards were presented at a gala dinner in Dubai, in front of the region’s leading travel and hospitality operators. “We are proud to be voted the most preferred travel agent by the readers of Condé Nast ...

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