December, 2018

• 10 December

  ‘Credit Suisse to buy back stock, boost dividend’

  Bloomberg Credit Suisse Group AG will announce a share-buyback program worth “billions” and increase its dividend at an investor day this week, newspaper SonntagsZeitung reported, without saying where it got the information. There’s pressure on Chief Executive Officer Tidjane Thiam to follow in the footsteps of Sergio Ermotti, head of rival UBS Group AG, and use his own money to ...

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• 10 December

  Bombardier sees shift to ‘growth cycle’ on luxury jet

  

  Bloomberg Bombardier Inc., which has been reeling from a weaker cash-flow forecast and a heavy debt load, says it’s about to transition to a new phase of sales growth. The Global 7500 luxury jet, which will debut in the coming days, will add at least $2.5 billion a year in revenue by 2020, Bombardier said in a presentation. The company ...

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• 10 December

  AirAsia’s Vietnam venture aims to begin operations in August

  

  Bloomberg The Vietnam partner of AirAsia Group Bhd. expects their new carrier to begin operations in August, joining the ranks of low-cost airlines in Southeast Asia as a growing middle class spurs many to travel by air. The domestic airline will apply for its aviation license in February and expects to gain the necessary regulatory approvals within six months, said ...

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• 10 December

  Carrefour launches ‘world’s first’ sail-through supermarket in Dubai

  

  Bloomberg Dubai’s retail explosion is extending out to sea. Majid Al Futtaim Holding LLC, the Middle East operator of Carrefour SA stores, has created sail-through supermarkets to cater to customers on yachts, boats and jet-skis on three of the city’s beaches, the company said in an emailed statement. Shoppers on jet-skis and small sailing craft will be able to sail ...

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• 10 December

  Zalando could interest Amazon or Alibaba

  

  Bloomberg A halving of Zalando SE’s share price since July’s peak could put the online fashion retailer in the cross hairs of Amazon.com Inc., Alibaba Group Holding Ltd. or even Sweden’s Hennes & Mauritz AB, according to a Baader Helvea analyst. While two reductions of its sales forecast in six weeks sent the stock into a tailspin, Zalando retains many ...

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• 10 December

  China group to buy Wilson tennis racket maker for $5.2bn

  

  Bloomberg A Chinese investor group led by Anta Sports Products Ltd. reached a $5.2 billion deal to acquire the maker of Wilson tennis rackets and Louisville Slugger baseball bats, as it seeks to bring high-end athletic equipment to China’s wealthy consumers. The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros ...

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• 9 December

  King Salman opens 39th GCC summit in Riyadh

  

  RIYADH / WAM The 39th session of the GCC Summit was held on Sunday in Riyadh under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud with the participation of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who headed the ...

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• 9 December

  Adnoc pilots blockchain in oil, gas production

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced its successful collaboration with IBM, piloting a blockchain-based automated system to integrate oil and gas production across the full value chain. The groundbreaking system provides a secure platform for the tracking, validating and execution of transactions at every stage, from production well to the end customer. According to ...

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• 9 December

  Ministry set to launch integrated payment system in UAE by 2020

  

  DUBAI / WAM The Ministry of Finance (MoF) reviewed the future strategic development plan for the transformation of e-Dirham system, during its meeting with senior local and federal government officials. During the meeting, the development stages of e-Dirham system, since its launch in 2001, were reviewed, while strategic plan was evaluated to ensure the sustainability of the system and its ...

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• 9 December

  ADGM opens world’s first fully digital courtroom

  

  ABU DHABI / WAM Abu Dhabi Global Market Courts (ADGM Courts), the internationally recognised, independent courts of ADGM, has opened for viewing fully digital, bespoke courtroom at an exclusive launch event held in the ADGM building on Al Maryah Island. The digital courtroom, the first of its kind globally, is a testament to ADGM Courts’ commitment to delivering an innovative ...

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