January, 2019

• 27 January

  IAG walks away from Norwegian Air bid

  

  Bloomberg British Airways parent IAG SA abandoned an eight-month pursuit of Norwegian Air Shuttle ASA, leaving the indebted discount airline reeling as it faces a cash crunch during the slow winter season. IAG “does not intend” to make a further bid and will be selling a 3.9 percent stake in due course, it said. Norwegian slumped as much as 26 ...

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• 27 January

  New Year hangover here to stay for Russian consumer

  Bloomberg For the beleaguered Russian consumer, this month’s return to work after the New Year holiday came with an extra dose of pain, as a tax increase pushed up prices across a raft of everyday goods. Consumer confidence has fallen to the lowest level in two years, while research company Romir found that the average shopping bill shrunk for three ...

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• 27 January

  Google’s attempt to battle Amazon suffers blow as Walmart withdraws

  

  Bloomberg Walmart Inc. has quietly withdrawn from one of Google’s marquee efforts to challenge Amazon.com Inc in e-commerce. Walmart removed its products from Google’s Shopping Actions service, the internet giant said. The retailer also recently dropped out of Google Express, a related delivery service. In March, Google unveiled Shopping Actions, which lets consumers more easily buy goods from retailers through ...

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• 27 January

  Heathrow turns to AI to cut gap between flights

  

  Bloomberg London’s Heathrow airport will test an array of ultra high-definition cameras to help determine more accurately when its runways are clear of planes and cut the gap between flights by as much as 20 seconds. If successful, the system will initially be deployed when Heathrow’s 285-foot control tower is shrouded in cloud — a situation that currently compels the ...

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• 26 January

  Abu Dhabi fund grants AED2.5b for education

  ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) financed 129 development projects in the education sector with a total value of AED2.5 billion. Benefitting 14 developing countries, these projects have contributed to achieving the United Nations’ Sustainable Development Goals (SDGs). The fund’s steadfast commitment to supporting developing countries in achieving their development priorities through building capabilities and ...

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• 26 January

  Oil rises as Trump reaches deal to end US shutdown

  

  Bloomberg Oil closed higher for the third day in a row as a deal to reopen the US government eased investor fears while political turmoil in Venezuela roiled one of the world’s biggest suppliers of heavy crude. Futures in New York rose 1.1 percent, gaining steam on reports US President Donald Trump agreed to a three-week pause in the government ...

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• 26 January

  DLD inks deals to create sustainable real estate investment environment

  

  Dubai / WAM The Dubai Land Department (DLD), signed three Memorandums of Understanding (MoUs), during its participation as a strategic partner of the Egypt Mega Property Show, held in Cairo with the aim of promoting urban development between the two countries to encourage investment and real estate promotion as well as enhancing confidence by providing a distinctive and balanced investment ...

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• 26 January

  UAE leaders greet Indian president on Republic Day

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has sent a message of congratulations to President Ram Nath Kovind of India, on the occasion of his country’s Republic Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin ...

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• 26 January

  FTA outlines two main conditions for tax de-registration

  

  ABU DHABI / WAM The Federal Tax Authority (FTA), defined the conditions for tax de-registration, in accordance with Federal Decree-Law No. 8 of 2017. In a statement issued on Saturday, the Authority clarified the conditions and procedures for de-registration for Value Added Tax (VAT), since its implementation. The FTA explained that if a registrant stops making taxable supplies or if ...

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• 26 January

  Esma adopts 16 new standards in cosmetics, chemical, oil and gas

  

  DUBAI / WAM The Emirates Authority for Standardisation and Metrology (Esma) adopted the requirements for the official use of stamping on jewellery, precious metals and stones in UAE markets, in order to guarantee the highest levels of confidence among consumers nationwide. The Esma Board of Directors, in a meeting chaired by Sultan bin Saeed Al Mansouri, Minister of Economy and ...

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