August, 2018

• 4 August

  British Airways owner IAG hurt by ‘strikes’, US fare drop

  

  Bloomberg British Airways owner IAG SA’s peak summer season is being spoiled by a combination of air traffic control strikes, exchange-rate swings and a dip in fares on key US routes. IAG shares fell the most in five months on August 3 after walkouts by French controllers pushed its Vueling arm to a wider second-quarter loss following a spate of ...

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• 4 August

  Second-hand Airbus superjumbo bumped to discount sector

  

  Bloomberg A second-hand Airbus SE superjumbo will fly for Norwegian Air Shuttle ASA later this month, giving a model once seen as the epitome of luxury a first taste of discount travel. The A380 has been drafted in to operate between London Gatwick airport and New York’s John F. Kennedy hub after the grounding of some of Norwegian’s own Boeing ...

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• 4 August

  Kellogg struggles to grow in US business even as earnings beat

  

  Bloomberg Kellogg Co.’s home market remains a challenge. The company posted second-quarter sales and profit that topped analysts’ estimates and raised its revenue forecast for the year. But struggles to ignite growth in its US cereal and snacks businesses damped investor enthusiasm. The shares fell as much as percent 3.8 percent to $66.79, the biggest intraday decline in three months. ...

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• 4 August

  Synchrony’s Walmart loss puts Sam’s Club renewal in focus

  

  Bloomberg Synchrony Financial lost out to Capital One Financial Corp. for a credit-card contract with retail giant Walmart Inc. Now, the company is poised to defend its turf for a Walmart subsidiary. Capital One is interested in examining the Sam’s Club portfolio currently held by Synchrony, according to people familiar with the situation, who asked not to be identified because ...

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• 1 August

  UAE a leading tourism destination

  

  ABU DHABI / WAM The UAE, which provides comfort to its citizens and tourists alike and has prioritised its heritage and preserved its history for the modern world, has become a leading international tourism destination, where authenticity is combined with modernity and development, through its rapid urban development that is the fastest in the Middle East and around the world. ...

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• 1 August

  Adnic profit up 17.1% to AED150.5mn in first half

  

  Abu Dhabi / WAM Abu Dhabi National Insurance Company (Adnic), announced its financial results for the first half of 2018 on Wednesday. Adnic reported a net profit of AED150.5 million for the period, up 17.1 percent year-on-year. Commenting on the results, Sheikh Mohamed bin Saif Al Nahyan, Chairman of Adnic, said, “On behalf of the Board of Directors, I am ...

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• 1 August

  Oil falls as trade war risks persist

  

  Bloomberg Oil fell to the lowest in more than a week amid a surprise jump in US crude inventories and an escalating trade dispute between the US and China. Futures in New York fell as much as 1.4 percent. The American Petroleum Institute was said to report US stockpiles rose 5.59 million barrels last week. Meanwhile, the US will propose ...

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• 1 August

  Emirates, Italy’s Trenitalia sign codeshare pact

  DUBAI / Emirates Business Emirates and Trenitalia, Italy’s national railway company, on Wednesday announced a new codeshare agreement which will enable Emirates customers from across its worldwide network to discover new destinations across Italy. With just one easy-to-book ticket, travellers will be able to fly on Emirates and reach some of Italy’s most picturesque cities and towns using high speed, ...

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• 1 August

  ADFSC agricultural supply centres’ sales up 22.6%

  Abu Dhabi / WAM The agricultural supply centres of the Abu Dhabi Farmers Services Centres (ADFSC) achieved a growth of 22.6 percent in their sales of agro-inputs, veterinary products and tools and equipment during the first half of 2018, compared to the same period of 2017. The ADFSC marketed 14.6 tonnes of fresh vegetables produced by farms in the first ...

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• 1 August

  Sheikh Zayed established legacy of tolerance: Nahyan

  ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, said that Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, had established the legacy of tolerance that is unique in the region and the entire world. “This legacy enabled the country to host over 200 nationalities, who live with dignity and respect and work with ...

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