January, 2019

• 12 January

  Air Baltic mulls new PE-funded airline

  

  Bloomberg Air Baltic Corp, the biggest customer for Airbus SE’s A220 jet, plans to use its latest order for the aircraft to establish a new airline elsewhere in Europe and could seek private-equity funding for the project. The Latvian company aims to deploy 30 A220s at the new carrier and replicate the model that brought it success at home, where ...

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• 12 January

  United regains rank as world’s No. 2 airline

  

  Bloomberg The airline world has a new No. 2 after United Continental Holdings Inc’s aggressive domestic expansion pushed the carrier ahead of Delta Air Lines Inc in terms of passenger traffic. Early last year, United embarked on an effort to regain market share at its three mid-continent hubs in Chicago, Houston and Denver. Under a three-year push, United is targeting ...

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• 12 January

  Calvin Klein closes NY flagship over strategy shift

  Bloomberg Calvin Klein is closing its Madison Avenue flagship store in New York this spring as the fashion label shakes up its strategy. The apparel maker owned by PVH Corp said it would begin using a “digital-first” approach and reorganise its North American division, combining operations in sportswear and jeans. Its higher-end Calvin Klein 205W39NYC business will get a makeover ...

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• 12 January

  Tesco bucks UK holiday retail gloom as smaller stores slump

  

  Bloomberg In an increasingly tough UK retail environment where the looming threat of Brexit has ground down consumer confidence, the holiday-shopping season was all about survival of the fittest. Tesco Plc, the country’s biggest retailer, weathered brutal price pressure and a decline in shopper visits better than smaller rivals, posting Christmas sales that beat expectations. But other stores more exposed ...

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• 9 January

  UAE launches global call to action on sustainability

  ABU DHABI / WAM Abu Dhabi Sustainability Week (ADSW) on Wednesday launched the #WeAreCommitted campaign, calling on the global community to pledge their support to sustainability. The online campaign has brought together Sheikhs, government ministers, amba-ssadors, business leaders, and young innovators to share their commitments. According to economic analysis, tackling sustainability-related challenges could save the global economy up to $30 ...

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• 9 January

  Startup funding in Mena up 31% to AED3.28bn

  

  DUBAI / Emirates Business Startup funding across Mena region witnessed a strong growth in 2018 with record number of transactions, according to a report released by Magnitt — leading data platform tracking the region’s startup ecosystem. The 2018 Mena Venture Investment Report — which provides an in depth analysis of startup funding across the Middle East and North Africa — ...

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• 9 January

  Abu Dhabi’s nominal GDP hits AED692.8bn

  

  ABU DHABI / WAM The Abu Dhabi’s nominal gross domestic product (GDP) amou- nted to AED692.8 billion in the first nine months of 2018, 14 percent up from AED 608 billion during the corresponding period of 2017, according to the Statistics Centre- Abu Dhabi (SCAD). Driven by an economic upturn across oil and non-oil sectors alike, the nine-month GDP accounts ...

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• 9 January

  US says China willing to buy more American as trade talks conclude

  

  Bloomberg The Trump administration wrapped up the latest round of trade talks in Beijing, noting a commitment by China to buy more US agricultural goods, energy and manufactured items. China and the US concluded three days of talks on Wednesday with a cautious sense of optimism that the world’s two biggest economies might be able to reach a deal that ...

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• 9 January

  VP approves national policy on vital residential communities

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stated that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, prioritises the quality of life of its citizens, while its government has prioritised housing and is achieving sustainability in this vital ...

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• 9 January

  ‘Addressing climate change a top priority for UAE government’

  Abu Dhabi / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, stressed that the UAE applies the highest standards to reduce the negative impact of climate change. “Addressing issues of climate change is a top priority for the UAE government and sustainable development is the way forward to preserve resources for ...

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