August, 2018

• 11 August

  The bond market is developing a cash problem

  

  The US Treasury Department sold more 10-year notes than it ever had before to help finance a bulging budget deficit. Strategists generally deemed the $26 billion auction “solid.” And although that’s certainly true when comparing the results with recent auctions, it’s hard to ignore an inconvenient truth facing the bond market. Investors submitted bids for 2.55 times the amount offered, ...

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• 11 August

  Jet Air faces heat from India’s budget flight boom

  

  Bloomberg Jet Airways India Ltd. was once at the forefront of India’s rapidly growing market for air travel, but a challenge from budget carriers and surging fuel prices are backing the airline into a corner. Shares of the carrier, part-owned by Etihad Airways PJSC, plunged 8.5 percent in Mumbai after the company postponed announcing its first-quarter earnings. That’s less than ...

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• 11 August

  Ryanair strike pushes fliers into pricey bookings

  

  Bloomberg Ryanair Holdings Plc’s worsening spat with pilots and cabin crew has created confusion among panicked customers as they race to salvage travel plans disrupted by strikes. Travellers holding tickets from affected airports told of an online race to find alternative journeys with the Irish airline or switch to rival carriers, only to see prices spiralling higher as hundreds of ...

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• 11 August

  China probes chief of Shanghai airports for alleged corruption

  

  Bloomberg The Chinese Communist Party is probing the chairman of the Shanghai Airport Authority for alleged corruption as President Xi Jinping continues his more than five-year-old crackdown on graft. Wu Jianrong, 56, has come under under suspicion of violating party rules and state laws, according to a statement posted on the website of the party’s disciplinary watchdog in Shanghai that ...

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• 11 August

  UK billionaire Ashley buys House of Fraser for $115 million

  

  Bloomberg UK billionaire Mike Ashley swooped in to rescue the House of Fraser Ltd. department-store chain for 90 million pounds ($115 million), staving off collapse for an anchor of the country’s troubled shopping districts. Ashley’s Sports Direct International Plc agreed to acquire the 169-year-old retailer’s UK stores, brand name and inventory. The move came after House of Fraser, which employs ...

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• 8 August

  UAE is largest donor of emergency humanitarian aid to Yemen in 2018

  ABU DHABI / WAM The UAE has been ranked as the largest donor of emergency humanitarian assistance to Yemen in the world for 2018. According to the Financial Tracking Service (FTS), a centralised source of information on humanitarian funding flows, the UAE is also the second-largest source supporting the 2018 Yemen Humanitarian Response Plan (YHRP) following the Kingdom of Saudi ...

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• 8 August

  UAE, Sudan discuss investment in mining industry

  KHARTOUM / WAM Hamad Mohammed Humaid Al Junaibi, UAE Ambassador to Sudan, and Mohammed Ahmed Ali Ibrahim, Sudanese Minister of Minerals, have discussed issues of mutual interest and investment opportunities in the mining sector. In a meeting held at the ministry’s premises in Khartoum, the Sudanese Minister lauded the excellent bilateral relations, welcoming UAE investments in all fields especially in ...

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• 8 August

  Expo 2020 selects Emaar Hospitality as official partner

  DUBAI / WAM Millions of visitors to Expo 2020 Dubai, including global leaders, will enjoy world class hospitality after organisers unveiled Dubai-based Emaar Hospitality Group, the hospitality and leisure subsidiary of global developer Emaar Properties, as its newest official partner. As the Official Hotel and Hospitality Partner, Emaar Hospitality Group will be responsible for providing exceptional service to Expo2020’s special ...

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• 8 August

  Oil slides as trade spat counters tighter supply

  

  Bloomberg Oil slid in New York, reversing two gains of days, as concerns over escalating trade tensions between China and the US overshadowed signs of tighter supply. Futures dropped 1.5 percent. American crude inventories as well as those in the key hub of Cushing, Oklahoma, slipped last week, the American Petroleum Institute was said to report. China’s Ministry of Finance ...

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• 8 August

  UAE, Poland talk cooperation

  WARSAW / WAM Dr Youssef Issa Hassan Al Sabri, UAE Ambassador to Poland, has discussed with Jerzy Kwiecinski, Minister of Investment and Economic Development of Poland, the distinguished bilateral relations and ways of enhancing cooperation in the economic, trade and investment sectors. This came in line with the embassy plan to boost relations between the UAE and Poland in all ...

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