September, 2018

• 5 September

  Norwegian braves Argentina’s meltdown to start $18 flights

  

  Bloomberg Argentina’s peso is slumping and the economy can’t catch a break. Norwegian Air’s mostly shrugging it all off to offer plane tickets starting at $18. The company is betting that a weaker peso will attract foreigners and a recession at home will boost domestic travel, said Ole Christian Melhus, chief executive officer of the Argentine unit, in an interview. ...

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• 5 September

  Zara sets goal to sell clothes everywhere as Amazon encroaches

  

  Bloomberg Spain’s Inditex SA plans to make clothes from its Zara label and other brands available online anywhere in the world within two years, aiming to become one of the first truly global clothiers as Amazon.com Inc. encroaches into fashion. “We want to make our fashion collections available to all our customers, wherever they are in the world, even in ...

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• 5 September

  Kaepernick campaign created $43mn in buzz for Nike

  

  Bloomberg The controversy surrounding Nike Inc.’s new Colin Kaepernick ad can’t be a surprise to the sportswear company. And in spite of the backlash, it’s probably pretty good for the brand. In less than 24 hours since Kaepernick first revealed the spot on Twitter, Nike received more than $43 million worth of media exposure, the vast majority of it neutral ...

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• 5 September

  Kenya to court Ryanair, easyJet to boost ‘tourism’

  

  Bloomberg Kenya plans discussions with low-cost airlines such as Ryanair Holdings and easyJet Plc to begin flying to the East African nation famous for its beaches and safaris, its tourism minister said. Tourism is one of the country’s biggest generators of foreign exchange after remittances and agricultural exports, and earned the nation $1.2 billion last year, according to the Kenya ...

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• 5 September

  Ryanair chairman faces bid to oust him

  

  Bloomberg Ryanair Holdings Plc’s chairman of more than two decades, US billionaire David Bonderman, is facing increasing opposition to his re-election at the Irish discount carrier’s annual meeting later this month. The ITF and ETF international labor groups and investor-advisory service Glass Lewis are separately lobbying against the reappointment of Bonderman, a long-time ally of Chief Executive Officer Michael O’Leary ...

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• 4 September

  Stocks gain AED7.5 billion on potential bank merger news

  

  ABU DHABI / WAM The UAE stock exchanges gained AED7.5 billion in market cap on Tuesday following reports purporting initial negotiations on potential mergers between Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank. The shares of the ADX-listed ADCB and Union National Bank therefore closed high at AED8.00 and AED4.34 respectively, following robust demand by investment agencies ...

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• 4 September

  UAE leads in global halal tourism with $17.6bn

  

  DUBAI / WAM The UAE ranks highest globally in halal tourism spending with an estimated $17.6 billion spent by UAE residents outside the country during 2017, new analysis from Dubai Chamber of Commerce and Industry has revealed. Saudi Arabia and Kuwait ranked second and third, respectively, according to the analysis which was based on recent data from Mastercard and the ...

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• 4 September

  DME announces launch of eight new oil listings

  

  DUBAI / WAM Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, announced the launch of eight new oil listings following completion of the regulatory review. Among the new products offered by DME is the Oman Crude Oil/Platts Dubai Crude Oil Futures contract (code DOP) which helps customers match their hedging exposure for ...

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• 4 September

  Cyberattacks down 39% in seven months: TRA

  

  ABU DHABI / WAM A total of 274 cyberattacks targeted government, semi-government and private sector entities in the UAE during the first seven months of the year, 39 percent down as compared to the corresponding period in 2017, according to the Telecommunications Regulations Authority (TRA) statistics. The decline in reported attacks is attributed to the efforts made by the Computer ...

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• 4 September

  UAE keen to boost volume of joint investments with UK

  LONDON / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met a delegation of British investors, as part of his official visit to Britain. The meeting tackled the growing historical relations between the UAE and Britain and ways to further enhance them and develop aspects of joint cooperation between the two countries ...

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