August, 2018

• 1 August

  Jaguar Land Rover needs tow from China

  

  For Jaguar Land Rover, the only way out of its deep pothole may be to get a tow from China. The luxury unit of Tata Motors Ltd posted dismal fiscal first-quarter results, recording an unexpected pretax loss of 264 million pounds ($346 million) after running into trouble in many of its main markets. JLR, usually the profit engine for Tata, ...

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• 1 August

  Too many jobs feel meaningless because they are

  

  As earnings season is upon us, it’s worth asking: Does business create value these days the way it once did? One sign it doesn’t is a significant decline in the formation rate of US firms over the past few decades. Economists Peter Orszag and Jason Furman have argued that investment and innovation have taken a back seat to profits derived ...

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• 1 August

  New airline all set to join Vietnam’s congested skies

  

  Bloomberg Vietnam’s skies are about to get more crowded. With state-owned Vietnam Airlines JSC and budget carrier VietJet Aviation JSC serving one of the world’s busiest routes, property developer FLC Group JSC wants a piece of the action with a new airline, operating 37 routes in the country after its inaugural flight in October. Called Bamboo Airways, the new airline ...

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• 1 August

  101 people survive Mexico airline crash

  

  Bloomberg Multiple people were injured after an emergency landing by Grupo Aeromexico SAB aircraft but no one died, a state official said, contradicting a report of eight fatalities. Many passengers left on foot from the scene of the accident in Durango, Mexico, said Israel Solano, a state civil protection official, in an interview with broadcaster TV Azteca. The Televisa network ...

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• 1 August

  Lufthansa fare gains to support earnings

  

  Bloomberg Deutsche Lufthansa AG reassured investors that cost cuts and higher fares will help it reach full-year targets after disruption from storms and air traffic control strikes hurt second-quarter earnings. The shares rose the most in 21 months after Lufthansa reported profit that fell less than analysts had feared, despite a rising fuel bill and increased expenses from integrating parts ...

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• 1 August

  HNA chief’s death to delay airline share sale

  Bloomberg Hong Kong Airlines’ plans to sell almost a third of its stock has been held up after the sudden death of a top executive at HNA Group Co., one of the carrier’s biggest shareholders, according to a person familiar with the matter. The death of HNA co-Chairman Wang Jian from an accident in France in early July has halted ...

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• 1 August

  Toys ‘R’ Us workers go to Congress to seek curbs on buyout  firms

  

  Bloomberg Fired Toys ‘R’ Us Inc. workers took their travails to Congress to press for changes in the way private equity deals are structured. Potential US presidential candidates Kirsten Gillibrand and Cory Booker, and Minority Leader Chuck Schumer were among Democratic senators who met with former staff members and workers’ rights groups. The ex-employees are asking for new leverage limits ...

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July, 2018

• 31 July

  Khalifa Foundation provides relief aid to 180,000 Somalis

  BERBERA/ WAM The Khalifa bin Zayed Al Nahyan Foundation has concluded its third relief operation in Somalia’s Berbera region, distributing food aid packages to 10,000 families affected by the drought. According to a spokesperson from the organisation, the campaign was implemented in accordance with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with the support of ...

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• 31 July

  UAE Space Agency board restructured

  ABU DHABI / WAM The UAE Cabinet approved restructuring of board of the UAE Space Agency under the chairmanship of Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills. The Board of Directors includes Hamad Obaid Al Mansouri, Chairman of the Mohammed bin Rashid Space Centre as Vice President; Khalid Abdullah Al ...

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• 31 July

  Dubai Investments reports H1 profit of AED491 million

  DUBAI / WAM Dubai Investments, leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED491 million for the six month period ended on June 30, an increase of AED11 million compared to AED480 million for the same period last year. Company’s total assets grew to AED19.04 billion compared to AED17.0 billion as on December, ...

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