September, 2018

• 26 September

  Aldar takes complete control of Khidmah

  ABU DHABI / WAM Aldar Properties on Wednesday announced that it has acquired 40% of Khidmah — one of the UAE’s leading integrated property services companies — taking its total ownership to 100%. The acquisition reinforces Aldar’s commitment to the property management sector and its belief that world class property management is a key source of value creation for real ...

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• 26 September

  Abu Dhabi fund allocates AED3.2bn for farm sector

  

  Abu Dhabi / WAM In a bid to achieve food security in developing countries and eradicate global poverty, Abu Dhabi Fund for Development (ADFD), has allocated nearly AED3.2 billion towards development projects in the agricultural and irrigation sectors. Representing seven percent of the total financial assistance contributed by the fund in supporting developing countries to date, this assistance has allowed ...

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• 26 September

  Abu Dhabi to host Global Illicit Trade Summit

  ABU DHABI / WAM From counterfeit goods to illicit financial flows, to human trafficking and drugs; the ‘shadow’ economy is estimated reach over $3 trillion. With an aim to create a dialogue and address the root cause of illegal trade, The Economist Events will host the third Global Illicit Trade Summit on October 30 at the Etihad Towers, Abu Dhabi. ...

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• 26 September

  Experts to discuss Net Zero Cities at EmiratesGBC Congress

  

  Dubai / WAM Regional and international experts on sustainable built environments will come together at the 7th Annual Emirates Green Building Council, EmiratesGBC, Congress to discuss best practices and strategies to go beyond net zero carbon buildings, and explore the significance of net zero cities in ensuring the viability and liveability of our cities in the future. Organised by EmiratesGBC, ...

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• 26 September

  StanChart to stop funding coal power plants, supporting climate accord

  

  Bloomberg Standard Chartered Plc said it will stop financing new coal-fired power plants anywhere in the world as part of its commitment to supporting the Paris Agreement on climate change. The move follows “detailed consultation with a range of stakeholders,” according to a statement from the London-based bank. Environmental degradation, extreme weather and rising seas are among the climate change ...

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• 26 September

  Stocks climb before Fed as dollar rises with Treasuries

  

  Bloomberg US equities edged higher as markets largely entered a holding pattern before the Federal Reserve’s rate decision. The dollar climbed with Treasuries. Pharmaceutical companies were among the best performers while energy shares lagged behind as Brent oil pulled back from a four-year high. Nike Inc. fell as much as 3 percent after reporting earnings. The pound weakened as Theresa ...

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• 26 September

  Oil falls amid first signs of expanding US crude stockpiles

  

  Bloomberg Oil dropped as US crude inventories rose for the first time in more than a month. Futures dipped as much as 1 percent on Wednesday in New York. Nationwide, crude stockpiles expanded by 1.85 million barrels last week, the first increase since early August, the Energy Information Administration said. Refiners are buying less crude as post-summer maintenance work ramps ...

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• 26 September

  IATA slams Brexit impasse as ‘unprofessional, crazy’

  

  Bloomberg The head of an industry group representing almost 300 of the world’s biggest airlines slammed an impasse that threatens to ground planes after Brexit as unprofessional and showing disdain for passengers who have bought tickets in good faith. A deal removing the risk of disruption to flights when Britain leaves the European Union on March 29 must be hammered ...

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• 26 September

  Amazon intruding on Shopify turf, says CEO Tobias Lutke

  

  Bloomberg The head of Shopify Inc. said Amazon is encroaching on its turf — and it’s confident it can compete. “They are creating products now that help small businesses market their products better which is frankly the space we are in,” Tobias Lutke, chief executive officer of Ottawa-based Shopify, said in an interview with BNN Bloomberg TV at a tech ...

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• 26 September

  Ryanair scraps 190 flights as its cabin crews to strike

  

  Bloomberg Ryanair Holdings Plc said it will have to cancel services on Friday after cabin crew unions in Germany, Spain, Belgium, Holland, Portugal and Italy called a strike. Only a “tiny minority” of staff are involved in the action, Ryanair said, adding that the scrapped services amount to 8 percent of the planned schedule and will affect about 30,000 customers. ...

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