December, 2018

• 12 December

  UBS signs pact to use Microsoft cloud services

  Bloomberg UBS Group AG reached a deal worth hundreds of millions of Swiss francs to use Microsoft Corp cloud services in a bid to reduce costs while complying with strict Swiss privacy laws, according to people familiar with the matter. Switzerland’s largest bank may begin to store data at Microsoft’s purpose-built facilities near Zurich and Geneva as soon as next ...

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• 12 December

  Lion Air firm on cancelling $22 billion Boeing jet orders

  

  Bloomberg Lion Air Mentari’s owner is sketching out plans to become one of the world’s largest budget carriers, while also preparing to scrap $22 billion in Boeing jet orders out of anger at the manufacturer’s response to an October air disaster. Rusdi Kirana, the co-founder of Lion Air, Indonesia’s biggest airline, mapped out the seemingly contradictory goals in an interview ...

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• 12 December

  Bombardier’s $73mn luxury jet poised for debut

  

  Bloomberg Bombardier Inc. says it will deliver its first Global 7500 next week as the company’s biggest luxury jet makes its commercial debut two years later than initially planned. The planemaker is planning an event near Montreal on December 20 to mark the entry into service of its newest aircraft, according to a statement. The Global 7500, which can fly ...

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• 12 December

  Former LVMH executive is next CEO of Tory Burch

  

  Bloomberg Fashion label Tory Burch is bringing on Pierre-Yves Roussel, a long-time executive at LVMH, as its new chief executive officer as the brand’s eponymous founder steps down from the role. Roussel ran the French luxury conglomerate’s fashion businesses, which include such brands as Celine, Givenchy and Loewe, until he left earlier this year. He will step into his new ...

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• 12 December

  Air France to appoint its first female chief executive

  

  Bloomberg The French unit of Air France-KLM is getting ready to appoint Anne Rigail as chief executive officer, making her the first woman to lead the airline, a person familiar with the matter said. Her appointment was presented to Air France board members on Wednesday morning, the person said, asking not to be identified because the decision isn’t public. The ...

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• 12 December

  Boeing needs December delivery surge for 737 target

  Bloomberg Boeing Co. will need to ramp up deliveries of its 737 jetliners to 83 planes this month to reach its annual target as the planemaker recovers from factory snarls that bedeviled its largest source of profit earlier this year. Boeing shipped 61 of the single-aisle aircraft in November, 18 more than in October, as the company recovered from engine ...

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• 12 December

  Whole Foods ranked worst on chemicals used in packaging

  

  Bloomberg Whole Foods Market, hailed for its high standards for healthy food, ranked worst in a study of five major US grocery chains for chemicals it uses in packaging at its popular hot-food section. In response, the company said it has removed all the coated paper products in question and has started a search for new biodegradable packaging. The study ...

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• 11 December

  UAE launches 100 humanitarian projects in Yemen this year

  RED SEA COAST / WAM Over 700,000 Yemenis on the Red Sea Coast benefitted from the services and infrastructure aid provided by the UAE during the Year of Zayed, through its humanitarian arm, the Emirates Red Crescent (ERC) which launched 100 projects and sent urgent relief convoys to affected areas. The Emirates News Agency (WAM) is monitoring the UAE’s humanitarian ...

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• 11 December

  EGA’s Guinea mining project 75% complete

  ABU DHABI / WAM Emirates Global Aluminium (EGA) on Tuesday announced that its bauxite mining project in the Republic of Guinea has reached 75 percent construction completion. The project has a total budget of approximately $1.4 billion and is being developed by EGA’s subsidiary Guinea Alumina Corporation (GAC). It is the largest greenfield investment in the West African country in ...

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• 11 December

  UAE tops Arab region in adoption of AI solutions

  

  DUBAI / WAM A report by the Dubai Technology Entrepreneurship Campus (Dtec) revealed that the UAE ranks first in the region in terms of enterpr-ise adoption of artificial intelligence (AI) applications with an annual growth rate of 33.5 percent. Dtec is a wholly owned technology hub by Dubai Silicon Oasis Authority (DSOA). The report titled, ‘artificial intelligence adoption in enterprise ...

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