April, 2018

• 22 April

  Macerich CEO Coppola to step down in 2018

  

  Bloomberg Macerich Co.’s chief executive officer and chairman, Arthur Coppola, will retire from the US mall owner at the end of the year, the company said. Coppola joined Macerich as a founding partner in 1976 and has led the company since 1993, according to a statement. Macerich has started looking for a replacement CEO and named Steven Hash, an independent ...

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• 22 April

  UK retail sales fall more than forecast amid snow chaos

  Bloomberg UK retail sales plunged in March as snow and freezing temperatures kept consumers indoors and disrupted deliveries of stock. The data comes as a fresh blow to the British high street after a year of consumer pullback in the face of rising prices and sluggish wage growth. While pay and inflation data this week show tentative signs that the ...

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• 22 April

  Honeywell CEO proves Loeb wrong as aerospace boosts profit

  

  Bloomberg Honeywell International Inc.’s confidence in its aerospace business was bolstered by expanding sales of in-flight internet and cockpit controls that drove first-quarter earnings higher than analysts’ expected. The company raised its 2018 profit target. A drag on earnings as recently as last year, the aerospace business is taking off on higher demand for commercial aircraft parts and service, increased ...

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• 21 April

  Trade tensions, debt seen as threats to global growth

  Bloomberg The global growth outlook faces rising threats from trade tensions and mounting debt despite a strengthening and “increasingly broad-based” expansion at the moment, according to a statement from world finance ministers and central bankers. “Risks are broadly balanced in the near term, but remain skewed to the downside beyond the next several quarters,” according to a communique by IMF’s ...

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• 21 April

  Dubai’s GDP surges to AED389 billion in 2017

  

  DUBAI / WAM Dubai Statistics Center (DSC) revealed that Dubai’s real gross domestic product (GDP) reached AED 389 billion in 2017 compared to AED 379 billion in 2016. According to DSC, the growth was fuelled by the performance of strategic sectors that accounted for 72.2% of total growth in 2017. The transportation and storage sector was the biggest contributor to ...

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• 21 April

  Jafza’s trade with India exceeds $3.4 billion

  

  DUBAI / WAM Trade between Jebel Ali Freezone (Jafza) and India reached over $3.4 billion in 2017. Latest figures from Jafza show that over 788 Indian companies are trading from the freezone, serving key markets in the region and building on historical ties that date back to 1985 when it first opened. DP World has extensive business interests in India, ...

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• 21 April

  Dewa updates strategy for 2021

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) organised a workshop to review its strategy for 2021. The workshop, which was held under the theme ‘Zayed’s Legacy for a Sustainable Future’ was attended by Saeed Mohammed Al Tayer, MD & CEO of Dewa, Executive Vice Presidents, Vice Presidents, Dewa’s experts, and staff. Al Tayer noted that Dewa organises the ...

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• 21 April

  GCC hospitality project value tops $147bn

  

  Dubai / Emirates Business The total value of the 1,156 hospitality and tourism projects in the GCC region has exceeded $147 billion (AED539 billion) in March 2018, according to BNC Network, the largest project intelligence provider in the Mena region. Among the 1,156 hospitality projects, 724 projects worth $78 billion (AED 286 billion) are hotel projects while 140 projects worth ...

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• 21 April

  Abu Dhabi QCC gets global accreditations

  ABU DHABI / WAM Abu Dhabi Quality and Conformity Council (QCC), the entity responsible for developing quality infrastructure in the emirate of Abu Dhabi, has announced that the Market Surveillance Division has become an accredited international inspection body in accordance with the requirements of ISO/IEC 17020-2012. The certification were awarded after a certified team from the Emirates International Accreditation Center ...

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• 21 April

  Middle East’s largest travel and tourism event kicks off in Dubai

  

  Dubai / Emirates Business Travel trade professionals from across the world’s hospitality industry will descend upon Dubai on Sunday for the opening of Arabian Travel Market (ATM) 2018, the region’s leading travel industry showcase. Celebrating its 25th year, ATM 2018, which takes place at Dubai World Trade Centre (DWTC), will showcase the largest exhibition of regional and global hotel brands ...

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