February, 2019

• 2 February

  China blocks Microsoft Bing due to tech error

  

  Bloomberg Microsoft Corp.’s search engine Bing was blocked in China due to an accidental technical error rather than an attempt at censorship, according to people familiar with the matter, and the search engine is once again accessible in the country. The government had no intention to block Bing when it stopped working. Microsoft said in a statement that Bing’s service ...

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• 2 February

  A tech firm far from Silicon Valley churns out billionaires

  

  Bloomberg Adyen NV says it saves merchants millions of dollars by streamlining card-payment transactions. The fintech firm, thousands of miles from Silicon Valley, is making its founders a lot more. Chief Executive Officer Pieter van der Does, Chief Technology Officer Arnout Schuijff and former innovation director John Caspers have all become billionaires since Adyen’s June initial public offering, according to ...

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• 2 February

  Amazon, Walmart reel as India curbs plunge market into chaos

  

  Bloomberg Amazon.com Inc. and Walmart Inc.’s grand plans for India were thrown into chaos after the country implemented new e-commerce regulations, which could cut their growth in the market by as much as half this year. Prime Minister Narendra Modi’s government tightened rules for the retail giants after strident complaints from small shops and domestic sellers. Amazon and Walmart’s Flipkart ...

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• 2 February

  Boeing vows new cash gusher after sales top $100bn

  

  Bloomberg Boeing Co. soared after reporting record cash for 2018 while cracking the $100 billion sales barrier for the first time in its 102 years — and the US planemaker says the best is yet to come. Revenue, earnings and cash are all poised to rise this year, building on fourth-quarter earnings that beat estimates, the company said in a ...

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• 2 February

  Airbus jetliner unit hit by cyber breach

  

  Bloomberg Airbus SE said its jetliner business was hit by a data breach that gave intruders access to some employees’ personal information. There was no impact on aircraft production, the European planemaker said in a statement. Airbus said it was in contact with regulators and data-protection authorities as it probes the origins of the intrusion. “Investigations are ongoing to understand ...

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• 2 February

  Cash-starved Jet Air says some planes grounded

  Bloomberg Cash-starved carrier Jet Airways India Ltd. said some aircraft were grounded because of technical and temporary reasons, denying a news report that said the planes were not flying because of a default in lease-rent payment. The carrier, struggling to repay debt, is regularly providing updates to lessors on efforts to improve liquidity and they, including GECAS, have been supportive, ...

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• 2 February

  United makes hubs new battleground in supremacy fight

  

  Bloomberg A year ago, United Continental Holdings Inc. startled the airline world with an aggressive growth agenda aimed at bolstering hub profits and reclaiming traffic—a strategy to win back passengers rivals had siphoned away in the nine years since the carrier’s chaotic merger. One-third of the way into its three-year plan, United has declared the project a success and is ...

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January, 2019

• 30 January

  New polymer facility is coming up in Kizad

  

  Abu Dhabi / WAM Khalifa Industrial Zone Abu Dhabi (Kizad) announced that Gulf Compound Blending (GCB), which is part of newly launched Kizad Polymers Park, will be establishing a new poly- mer facility within the industrial zone. Gulf Compound Blending, a newly-formed joint venture between Met T&S (Maire Tecnimont Group), M. Cecchi & Co and Arab Development Establishment, is set ...

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• 30 January

  Sharjah industrial output reaches AED41bn in 2018

  

  SHARJAH / WAM Industrial production in Sharjah reached AED41 billion in 2018, according to the Sharjah Economic Development Department (SEDD). The industrial licences indicator showed some remarkable achievements, whereas the number of issued industrial licences grew by 14 percent in 2018 as compared to 2017 with 174, and 1890 renewed. According to a report from the department, the contribution of ...

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• 30 January

  Deyaar’s profit hits AED140mn

  

  DUBAI / Emirates Business Deyaar Development PJSC (Deyaar), one of Dubai’s leading property developers and real estate service providers, announced its preliminary unaudited financial results for the full year ended on December 31, 2018. The company reported revenues of AED643.7 million in 2018, compared to AED 751.6 in 2017. Net profit rose by 7.4% from AED 130.4 million in 2017 ...

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