October, 2018

• 28 October

  Norwegian nears deal for $1bn cash infusion

  

  Bloomberg Norwegian Air Shuttle ASA is closing in on a deal that would provide a potential $1 billion infusion of cash to help it navigate increasing fuel prices and the slow winter period, according to people familiar with the matter. The Oslo-based carrier said that it is in “advanced discussions” with an unnamed partner to create a fleet joint venture ...

  Read More »
• 28 October

  Metro taps Citigroup, JPMorgan for review of China operations

  

  Bloomberg Metro AG, the German big-box retailer and wholesaler, is working with Citigroup Inc. and JPMorgan Chase & Co. to review options for its Chinese operations, according to people familiar with the matter. The business could be worth about $1.5 billion, based on earnings and the valuations of its rivals, the people said, asking not to be identified as the ...

  Read More »
• 27 October

  Oil falls for third week as ‘fear selling’ spreads

  

  Bloomberg Oil tumbled for a third straight week as crumbling equity markets across the globe stoked concern about a slowdown in energy demand growth. A 0.4 percent gain in New York-traded futures wasn’t enough to halt a 2.2 percent decline for the week. Eight of every 10 stocks in the S&P 500 were in retreat as a cavalcade of negative ...

  Read More »
• 27 October

  UAE, Bahrain review ‘financial operations’

  DUBAI / WAM The UAE and Bahrain reviewed their latest efforts in administering government financial operations, and also expressed their keenness to cooperate towards achieving common goals that are aligned with their shared vision and history. This was discussed when a delegation from Ministry of Finance of Bahrain visited UAE Ministry of Finance. Younis Haji Al Khoori, Under-Secretary of Ministry ...

  Read More »
• 27 October

  PCFC, Abu Dhabi Customs ink pact to spur trade, economic progress

  

  Dubai / WAM In fulfilment of the wise vision of the leadership for creating an attractive investment environment that encourages businesses and supports the national economy, the Ports, Customs, and Free Zone Corporation (PCFC) signed a Memorandum of Understanding (MoU) with the General Administration of Customs in Abu Dhabi. The MoU aims to enhance ties of mutual cooperation and partnership ...

  Read More »
• 27 October

  Canada ratifies Pacific trade deal, Australia close behind

  Bloomberg A sprawling Pacific trade deal led by Japan is on the verge of kicking in provisionally after Canada became the fifth country to sign off, according to a government official. Prime Minister Justin Trudeau’s government sent formal notice of its ratification on Saturday to New Zealand, which is compiling records for the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific ...

  Read More »
• 27 October

  Dewa records 3,000 smart transactions a day

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) took part in the ‘Week without Service Centres’ initiative, which was launched by the Department of Finance in Dubai, to enhance digital transformation in government transactions. The move is part of Dewa’s efforts to support the Smart Dubai initiative launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and ...

  Read More »
• 27 October

  Sheikh Mohammed touches 2mn LinkedIn followers

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has reached two million LinkedIn followers, according to LinkedIn, the world’s largest professional networking platform. Having hit the two million followers’ milestone as a LinkedIn Influencer, His Highness is now the second most followed Global Political Leader and ...

  Read More »
• 27 October

  UAE a gateway to emerging, developed markets globally

  

  Sharjah / WAM During its participation in the World CEO Forum, the Sharjah Airport International Free Zone (Saif Zone) Authority stated that the achievements of SAIF Zone help to demonstrate and reflect Sharjah Government’s commitment to free trade. The Saif Zone Authority also stated that the various unique services that it offers have enabled it to develop into a leading ...

  Read More »
• 27 October

  Abu Dhabi Ports buys two tug boats to boost Khalifa Port expansion

  

  Abu Dhabi / Emirates Business Abu Dhabi Marine Services ‘Safeen’, the marine services subsidiary of Abu Dhabi Ports, announces the purchase of two new state-of-the-art tug boats from Damen Shipyards Group aimed at supporting the AED 10 billion expansion of Khalifa Port, Abu Dhabi Ports’ flagship deep-water port. The purchase of the Damen ASD 2411 tug boats was announced at ...

  Read More »