July, 2018

• 7 July

  This Swedish bank is on a hiring spree, but not for bankers

  

  Bloomberg SEB AB, one of Sweden’s biggest banks, is on a hiring spree to burnish its technology credentials as more financial services go digital. Chief Executive Officer Johan Torgeby says SEB is hiring as many as “1,400-1,500 people a year right now,” or “about 100 per month.” The bank is taking on people “mainly in new technology, computer scientists, new ...

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• 7 July

  Boeing to expand production with $4.75bn Embraer deal

  

  Bloomberg Boeing Co. is forming a $4.75 billion venture with long-time industrial partner Embraer SA, a move that will expand the US planemaker’s manufacturing base abroad while extending its reach into the market for small jetliners. Under a preliminary deal, Boeing will own 80 percent of a partnership controlling Embraer’s commercial airplane and services business while the Brazilian manufacturer holds ...

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• 7 July

  Amazon undercuts prices on OTC pills

  

  Bloomberg As pharmacy chains await Amazon.com Inc.’s entry into the prescription-drug market, the online retail giant is already undercutting them for non-prescription medicine for aches, colds and allergies. Median prices for over-the-counter (OTC), private-brand medicine sold by Walgreens Boots Alliance Inc. and CVS Health Corp. were about 20 percent higher than Basic Care, the OTV rug line sold exclusively by ...

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• 7 July

  Passenger group targets FAA’s failure to stop seat shrinkage

  

  Bloomberg The head of an airline passenger rights group called on the public to protest a decision by US regulators not to set standards on cramped aircraft seating — and took a potshot at President Donald Trump for not flying commercial. The Federal Aviation Administration (FAA) said that it has “ no evidence that there is an immediate safety issue ...

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• 7 July

  Sri Lanka hopes India to take stake in airport with no flights

  

  Bloomberg Sri Lanka has already sold China a port that gets almost no ships. The island nation now wants India to take control of an airport with no scheduled flights. The nation first tried to offer China the Mattala Rajapaksa International Airport in the southern district of Hambantota, but is now in talks with India, Prime Minister Ranil Wickremesinghe told ...

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• 4 July

  VP honoured for Arab development work

  

  CAIRO / WAM The Arab League has honoured Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum with the ‘Arab League Shield for Leadership in Arab Development’ in recognition of his contributions to the development of the Arab world, and his innovative vision for empowering Arab communities, spreading knowledge, ...

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• 4 July

  e-ticketing system for Dubai Frame launched

  Dubai / WAM Dawood Abdulrahman Al Hajiri, Director-General of Dubai Municipality, on Wednesday launched the e-ticketing system for Dubai Frame through its new website and also the smartphone app, which provides visitors with an easy way to book their tickets in advance and ensure their preferred time of visit. The new system offers a wide range of e-services, including detailed ...

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• 4 July

  7,000 Yemenis receive UAE aid in Hodeidah

  HODEIDAH / WAM The Emirates Red Crescent (ERC), distributed 1,000 food baskets to residents of Al Hima in At Tuhayat District of Hodeidah, Yemen. This latest distribution of food aid benefits 7,000 Yemenis as part of UAE efforts to provide necessary humanitarian and relief assistance to individuals in liberated areas of Yemen’s Red Sea Coast. Saif Al Dhaheri, ERC Representative ...

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• 4 July

  Empower connects 40 buildings with district cooling in H1

  Dubai / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced the connecting its district cooling services to 40 buildings in the first half of the year, 2018. Total connected load during this period is more than 52,000 Refrigeration Tonnes (RT). Empower also announced that it has awarded the contractors and suppliers with 25 ...

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• 4 July

  DGCX expands collateral basket in partnership with StanChat

  

  Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) and its Central Counter Party (CCP) subsidiary, Dubai Commodities Clearing Corporation (DCCC), announced that clearing members can now deliver eligible global securities as collateral. To underpin the expansion of the collateral basket, Standard Chartered Bank (StanChat) will provide Custody Management Services on this additional form of collateral and will be ...

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