May, 2018

• 13 May

  What Walmart will do after buying in India, selling in UK

  

  Bloomberg The sun never sets on Walmart Inc.’s empire, thanks to its network of stores across five continents. But in the span of 10 days, chief executive Doug McMillon has begun dramatically redrawing the retailer’s map, and there’s likely more to come as it places bets to remain on top. “All of a sudden, everything is in play,” said Dave ...

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• 13 May

  United Air trims Mexico flights on ‘weak demand’

  

  Bloomberg United Continental Holdings Inc. is chopping flights between the US and Mexico, saying travel demand has waned. Service between Los Angeles and Mexico City will end on October 4, the airline said. United also will halt flights this summer from the US to the Pacific beach resorts of Huatulco and Mazatlan, and to the Gulf Coast oil town of ...

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• 13 May

  ‘City’ expands aviation course offering in Dubai

  

  Dubai/ Emirates Business City, University of London’s Dubai Centre has announced the launch of a Master of Science (MSc) in Airport Management for junior managers looking to boost their career prospects in today’s fast-growing airport industry. Starting in September, this course has been designed to cater to the growing demand for skilled aviation professionals in the Middle East and around ...

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• 13 May

  Folli Follie’s Asia sales rise despite China decline

  

  Bloomberg Folli Follie’s network of stores in its key Chinese market shrank by more than half last year even as its sales in Asia increased, according to the latest figures published by its parent company FF Group this week. The main brand of the Greek retailer reported 113 points of sale in mainland China in a document published and reviewed ...

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• 13 May

  Neighbour to the Queen no more, Rolls-Royce seeks cheaper HQ

  

  Bloomberg Rolls-Royce Holdings Plc plans to quit its headquarters in one of London’s swankiest districts for cheaper offices as the company seeks to bring down long-term expenses and cover the more immediate costs of fixing a faulty jet-engine model. Rolls-Royce needs a “smaller, more cost-effective London head-office location” than the current premises midway between the Houses of Parliament and Buckingham ...

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• 12 May

  Jafza petchem firms’ trade hits AED16bn

  

  DUBAI / WAM Petrochemical companies operating in Jebel Ali Free Zone (Jafza), the region’s premier business and logistics hub, generated trade worth AED16 billion in 2017. Jafza is home to 526 companies in the sector from 67 countries and will be exhibiting its services in the petrochemical sector at the 10th GPCA Supply Chain Conference in Dubai. Sultan Ahmed bin ...

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• 12 May

  US calls on Qatar to stop funding pro-Iranian militias

  Emirates Business In yet another blow to Qatar and its covert financing to terrorist group aiming to destabilise the region, the Trump administration has called on Doha to stop funding pro-Iranian militias following revelations about the Gulf state’s dealings with terror groups in the Middle East. Securities officials of the United States are concerned about Qatar’s links to a number ...

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• 12 May

  Adnoc loads first oil cargo for India’s ISPRL

  

  ABU DHABI / WAM The historic first cargo of crude oil from the Abu Dhabi National Oil Company (Adnoc), destined for the Indian Strategic Petroleum Reserves Ltd (ISPRL) has, on Saturday, been loaded and is en-route to India. The cargo is the first under an agreement between Adnoc and ISPRL, an Indian government-owned company mandated to store crude oil for ...

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• 12 May

  UAE, China explore trade, tourism opportunities

  GUANGZHOU / WAM Ali Obaid Ali Al Dhaheri, UAE Ambassador to China, has met with Chen Liangxian, Vice-Governor of Guangdong Province, China, in the presence of Rahma bin Abdulrahman Al Shamsi, UAE Consul-General in Guangzhou, China. During the meeting, they discussed the opportunities available between the two countries in the trade, investment and tourism sectors. Liangxian emphasised his province’s keenness ...

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• 12 May

  Britons invest $8.47bn in Dubai real estate

  

  ABU DHABI / WAM British nationals have invested $8.47 billion (AED31.1 billion) in Dubai’s real estate during the last four years (2014-2017), according to the statistics released by Dubai Land Department (DLD). The United Kingdom is one of the largest investment source markets for Dubai’s real estate. Following the Brexit vote in 2016 and subsequent move for separation from European ...

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