February, 2019

• 11 February

  National Australia Bank falls after CEO, chairman depart

  

  Bloomberg National Australia Bank Ltd shares fell after the chief executive officer and chairman both resigned, becoming the highest-profile casualties of a sweeping inquiry into misconduct in the country’s financial industry. Andrew Thorburn, 53, and Chairman Ken Henry, 61, announced their departures, just days after being the target of withering criticism in the Royal Commission’s final report, which questioned whether ...

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• 11 February

  Delta tries poaching in rivals’ hubs with advanced plane

  

  Bloomberg When it comes to industry competition, executives at Delta Air Lines Inc. have never been accused of jabbing with soft elbows. That ferocity was on full display as the carrier launched its first Airbus SE A220 flights from Boston, Dallas and New York, deploying the technologically advanced aircraft in hotly contested business routes at large hubs that are critical ...

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• 11 February

  London-Sydney direct flight inches closer to reality

  

  Bloomberg Qantas Airways Ltd’s vision for the first direct flights from Sydney to London is inching closer to reality as Boeing Co. and Airbus SE finalize proposals for longer-range jets needed to span the 10,600-mile trip. Qantas is also stepping up work on making the estimated 20-hour journey to the UK capital and cities including New York and Paris more ...

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• 11 February

  Pilots’ strike leaves passengers stranded after holiday in Asia

  

  Bloomberg A shortage of pilots has caused chaos for thousands of passengers during peak travel season in the region, as cockpit crew complaining of overwork extended a strike at Taiwan’s biggest carrier to a fourth day. Since the pilots’ union of China Airlines Ltd. decided to stay away from work, the carrier has scrapped more than 60 flights, taking the ...

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• 11 February

  Mattel impresses analysts who now seek guidance at toy fair

  

  Bloomberg Mattel Inc. soared as much as 30 percent, the biggest intraday gain on record after the toymaker’s quarterly results blew past estimates, and posted its first earnings beat in three years. Analysts applauded the Barbie- and Hot Wheels-driven sales strength and believe that, together with the gross margin and earnings beat, shares should move higher. And, while highlighting global ...

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• 10 February

  Saudi’s $3.1b plan to ease expat fee costs

  

  Bloomberg Saudi Arabia’s King Salman has approved a plan to ease levies businesses pay on foreign workers to help revive economic growth. Authorities will exempt some companies from paying the 2018 fees or reimburse those that have already paid, according to the official-Saudi Press Agency. To qualify for the aid, businesses need to have made strides in hiring more Saudi ...

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• 10 February

  Enoc, BHGE partner on ‘lubricant monitoring’

  

  DUBAI / WAM Baker Hughes, a GE Company (BHGE) announced an agreement with Emirates National Oil Company (Enoc), to co-develop VitalyX, a real-time lubricant monitoring system, which can be deployed in multiple industries using large machinery, and advanced cloud-based system to detect and meas- ure key lubricant properties while simultaneously converting data into actionable insights. Enoc, which will not only ...

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• 10 February

  Most Dubai firms see higher growth in Q1

  

  DUBAI / WAM A majority of businesses in Dubai foresee accelerated economic growth during first quarter of 2019, according to quarterly survey conducted by Department of Economic Development (DED) to gath-er the performance expectations and economic outlook of the local business community. The survey, conducted during final quarter of 2018, showed 59% of companies as optimistic about economic growth in ...

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• 10 February

  UK eyes free trade pact with GCC countries in future, says minister

  

  Dubai / WAM Rt Hon Liam Fox, UK Secretary of State for International Trade, has said that the UK enjoys strong trading relations with GCC countries and is looking forward to have a free trade agreement with the bloc in the right time. He also said that the World Government Summit is very indicative of the UAE getting increasingly outward ...

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• 10 February

  Lockheed Martin to display advanced portfolio at Idex

  

  Emirates Business Lockheed Martin, the United States-based global technology leader, is set to showcase its latest advanced technology solutions at the 14th edition of the International Defense Exhibition and Conference (Idex), the only one in the Mena region, to be held in Abu Dhabi from February 17-21. At Idex, the defense and security firm will highlight a diverse portfolio of ...

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