September, 2018

• 22 September

  In a world of robots, carmakers hiring more humans

  

  Bloomberg Car-industry employees concerned that robots will put them out of work needn’t worry — at least for now. Of the 13 publicly traded automakers with at least 100,000 workers at the end of their most-recent fiscal year, 11 had more staff compared with year-end 2013, according to data compiled by Bloomberg. Combined, they had 3.1 million employees, or 11 ...

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• 22 September

  New airline, Moxy, to cut fares, add legroom

  

  Bloomberg Serial airline entrepreneur David Neeleman is determined to make his next carrier stand out in a market where rivals large and small shoehorn budget-minded travellers into cramped cabins. His proposed low-cost airline, with the working name Moxy, plans to offer passengers novel ways to customise their experience: from legroom to food to price. The founder of JetBlue Airways Corp. ...

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• 22 September

  American Air joins US rivals in adding $30 baggage fee

  

  Bloomberg American Airlines Group Inc. became the last of the three largest US carriers to boost its fee for a first- or second- checked bag by $5. The change, effective for tickets purchased starting from September 21, puts the charge for a first bag at $30 and $40 for a second. United Continental Holdings Inc. and Delta Air Lines Inc. ...

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• 22 September

  Moss Bros plunges after UK summer cuts suit sales

  

  Bloomberg UK suitmaker Moss Bros Group Plc is the latest retailer to wilt over the hot summer, warning that lower-than-expected store visits mean full-year profit will be “materially lower” than expected. The shares fell as much as 29 percent to a seven-year low after the company said like-for-like retail sales were down 6.9 percent in the first half. Full-year earnings ...

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• 22 September

  Amazon to spend $3bn on ‘Go’ stores

  

  Bloomberg If Amazon.com Inc. proceeds with a plan to open 3,000 cashierless stores by 2021, it could cost as much as $3 billion, according to analysts at Morgan Stanley, but also signal a bigger push by one of the world’s largest companies into the grocery business. The e-commerce giant is taking a close look at the future of its AmazonGo ...

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• 19 September

  Abu Dhabi is world’s safest city

  

  ABU DHABI / WAM Abu Dhabi has been named the safest city in the world for the second year running by Numbeo, a website that curates and collates data to develop the world’s largest user-contributed database about cities and countries worldwide. Surpassing more than 300 cities across the world, including Tokyo, Basel, Munich, and Vienna, the UAE’s capital has once ...

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• 19 September

  Al Hilal Bank closes $500mn five-year sukuk

  

  ABU DHABI / WAM Al Hilal Bank, rated A2 by Moody’s and A+ by Fitch successfully closed a $500 million five-year Senior Sukuk. The transaction, under Al Hilal Bank’s new management team, marks the first Senior Public Sukuk from the UAE since April 2018, and re-opens the Capital markets for GCC issuers. Al Hilal Bank was last in the market ...

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• 19 September

  Gulftainer wins 50-year concession for US port

  

  SHARJAH / WAM Gulftainer, a privately-owned independent port operator and logistics company based in Sharjah, has finalised a 50-year concession with the State of Delaware in the USA to operate and develop the Port of Wilmington, significantly expanding the company’s global footprint and reach. The agreement, signed by Gulftainer’s subsidiary GT USA, will see an expected investment of up to ...

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• 19 September

  Adnoc hits full production of propylene at Ruwais

  

  ABU DHABI / WAM Adnoc Refining, a subsidiary of the Abu Dhabi National Oil Company (Adnoc), on Wednesday announced it has reached full production of polymer-grade propylene from its newly commissioned Propane Dehydrogenation (PDH) unit, located in the Ruwais integrated refining and petrochemical hub. The PDH unit processes propane from two major sources, Adnoc Gas Processing and Ruwais Refinery West, ...

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• 19 September

  UAE, Algeria discuss ways of reinforcing bilateral ties

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said that the bilateral and economic relations between the UAE and Algeria are based on strong foundations of brotherhood and mutual respect, supported by their historical and cultural ties. He added that the cooperation between the two countries has witnessed ongoing overall developments, especially in the areas of ...

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