November, 2018

• 10 November

  Marks & Spencer may close more stores: CEO

  

  Bloomberg Marks & Spencer Group Plc said it may step up store closings as the troubled UK retailer reported another decline in sales. After announcing plans in May to shut about 100 of its large stores selling food and clothing, Chief Executive Officer Steve Rowe said that the number is only a “first stage” in the company’s turnaround plan. “It’s ...

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• 10 November

  Kenya Air stops tickets for Burundi flights

  

  Bloomberg Kenya Airways Plc. has ceased issuing tickets for flights to Burundi after the state demanded the airline’s wholly owned budget carrier fly bigger jets. While Jambojet Ltd. received authorisation to operate between the Kenyan capital, Nairobi, and Bujumbura, Burundi’s main city, the Ministry of Transport, Public Works, Equipment and Land Use Planning failed to give requisite approvals because of ...

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• 10 November

  Walmart shoppers get new holiday offers. Its staff, not so much

  

  Bloomberg Walmart Inc. is rolling out the red carpet for shoppers during the Black Friday holiday weekend, doling out everything from deep discounts to free coffee and cookies. Its legions of store employees, though, won’t see anything special this year. Despite an extremely tight labour market, recent wage hikes by rivals and concerns that the historically frugal retailer will seek ...

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• 7 November

  Deal signed to strengthen UAE-Hungary cooperation

  

  ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU), with the Hungarian Chamber of Commerce and Industry. The MoU was signed during their meeting at the headquarters of the chamber. The MoU affirms the commitment of both sides to reinforce the economic and commercial cooperation between the UAE and Hungary, through ...

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• 7 November

  Opec considers 2019 oil production cuts

  

  Bloomberg The wind changed again in the oil market as Organization of Petroleum Exporting Countries (Opec) signalled it will consider a return to cutting output next year, potentially making the second production U-turn this year. With the US midterm elections over and crude futures wilting in the face of another historic shale oil surge, the cartel will discuss a change ...

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• 7 November

  UAE, Moldova to boost ties in infra sector

  

  DUBAI / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, met with Chiril Gaburici, Minister of Economy and Infrastructure of Moldova, and his accompanying delegation on Wednesday. During the meeting, held at the Ministry of Infrastructure Development headquarters in Dubai, the two sides discussed means of developing ties in the infrastructure development sector. Dr Al Nuaimi ...

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• 7 November

  SoftBank plans to develop $1.2bn solar power plant in Saudi Arabia

  

  Bloomberg SoftBank Group Corp. is planning to develop a $1.2 billion solar power plant in Saudi Arabia, according to people with knowledge of the matter. The plant, to the north of Riyadh, would generate 1.8 gigawatts of power, the people said, asking not to be identified because the plans are private. SoftBank has started preliminary talks with banks and developers ...

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• 7 November

  UAE gained global reputation as a hub for innovation, creativity

  

  SINGAPORE / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has visited Dubai Electricity and Water Authority’s Data Hub Integrated Solutions (MORO), a data hub that provides state-of-the-art data centre solutions and innovative business services. During the visit, Sheikh Hamdan was accompanied by Abdulla Al Basti, Secretary-General of ...

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• 7 November

  UAE, Moldova discuss ways to enhance ties in infrastructure sector

  

  Dubai / WAM Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, met Chiril Gaburici, Minister of Economy and Infrastructure of Moldova, and his accompanying delegation on Wednesday. During the meeting, held at the Ministry of Infrastructure Development headquarters in Dubai, the two sides discussed means of developing ties in the infrastructure development sector. Dr Al Nuaimi praised ...

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• 7 November

  50 new ATMs opened in UAE in 12 months

  

  Abu Dhabi / WAM In yet another indicator of upbeat economic sentiments, the past 12 months saw the introduction of 50 new automatic teller machines (ATM) across the country, according to Central Bank of UAE statistics. The continual rise in ATMs reflects the UAE banking sector’s commitment to forging ahead with its plans to automate services in a way that ...

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