October, 2018

• 7 October

  For JC Penney’s new chief, Christmas is coming too soon

  

  Bloomberg The all-important holiday season is fast approaching, and there’s very little JC Penney Co.’s incoming chief executive officer can do about it. The struggling department-store chain named its new CEO, retail veteran Jill Soltau, with less than three months of 2018 holiday shopping to go. JC Penney’s orders for the critical period were placed months ago, giving her little ...

  Read More »
• 7 October

  SriLankan Airlines is ‘most punctual global airline’

  

  Emirates Business SriLankan Airlines has achieved the remarkable feat of being named the world’s most punctual airline in the month of September 2018 in the key categories of ‘Global Airlines’ and ‘Major Airlines’, by the flight data analysis company Flightstats.com. An extraordinary 91.37% of SriLankan Airlines’ flights in September 2018 were on time according to an analysis by Flightstats. Flightstats ...

  Read More »
• 7 October

  Target tries to lure budget shoppers with $2 toiletries

  Bloomberg Watch out dollar stores, Target Corp. wants to steal your shoppers. The Minneapolis-based retailer is introducing Smartly, a line of essentials and personal-care products mainly priced under $2, for budget-conscious consumers who don’t want to buy in bulk. It’s in step with Target’s strategy to offer new brands to get customers excited. It has added a dozen over the ...

  Read More »
• 6 October

  ERC aid benefits 600 families in Hadramaut

  ASH SHAHAR / WAM The Emirates Red Crescent (ERC) distributed food aid to 600 families, or about 3,000 persons, at Al Hami, Ash Shahar District in Hadramaut. This is in the framework of the ERC’s humanitarian project to restore normalcy to the lives of families facing dire humanitarian conditions. The assistance included basic humanitarian needs and foodstuff. The beneficiaries extended ...

  Read More »
• 6 October

  Abu Dhabi to launch Mena’s first ‘healthcare moonshot’

  ABU DHABI / WAM Abu Dhabi will see the launch of the inaugural edition of the Moonshot initiative for Healthcare Research for the first time in the Mena Region in Abu Dhabi on October 11. Under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council, VPS Healthcare, one of the UAE’s ...

  Read More »
• 6 October

  Saudi crown prince says Aramco IPO by 2021

  

  Bloomberg Saudi Arabia’s crown prince insisted the plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering (IPO) by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more. “I believe late 2020, early 2021,” he said, discussing the timing of the IPO in an interview at the ...

  Read More »
• 6 October

  Emirates wins ‘airline of the year’ award

  

  DUBAI / WAM Emirates won the Aviation 100 ‘Middle East & Africa Airline of the Year’, awarded by Airline Economics magazine. The Aviation 100 awards recognise aviation’s most outstanding performers, as well as the most innovative and successful finance and leasing deals closed in last 12 months. The awards were held during the Airline Economics Growth Frontiers Dubai 2018 conference ...

  Read More »
• 6 October

  Adnec set to host key international, regional events

  ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) will host more than 10 leading regional and international events across key sectors at its Abu Dhabi and Al Ain venues, during the month of October, which are expected to attract thousands of visitors, exhibitors and industry professionals and leaders. Commenting on the announcement, Humaid Matar Al Dhaheri, Group CEO ...

  Read More »
• 6 October

  $2.4trn worth of projects in GCC’s pipeline offer vast opportunities

  

  Dubai / Emirates Business With an estimated $2.4 trillion of projects planned across the GCC, the region still offers abundant opportunities as governments seek to develop infrastructure to meet the needs of rapidly expanding populations, and to deliver economic diversification. The region offers some of the best project opportunities in the world. The need for infrastructure and economic diversification is ...

  Read More »
• 6 October

  Rise in FDI inflows reflects investor confidence in Dubai’s economy

  

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council has stated that increasing foreign direct investment (FDI) inflows reflect growing investor confidence in Dubai. FDI into Dubai recorded significant growth in the first half of 2018, reaching $4.84 bn (AED17.76 bn), a 26% up compared to ...

  Read More »