April, 2018

• 28 April

  Founder steps in as India’s InterGlobe head exits

  

  Bloomberg InterGlobe Aviation Ltd.’s billionaire director Rahul Bhatia has taken over as interim chief executive officer after its president and director Aditya Ghosh unexpectedly resigned before a board meeting, the operator of India’s biggest airline said in an exchange filing. Ghosh is leaving at a time when the airline is changing some of its most successful policies such as moving ...

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• 28 April

  Elliott takes on Amazon with purchase of bookseller Waterstones

  

  Bloomberg Paul Singer’s activist hedge fund, best known for its jousts with underperforming corporate titans, is about to start selling books in the UK. Elliott Advisors, a unit of Elliott Management Corp., has entered a binding agreement to acquire Waterstones from Alexander Mamut’s Lynwood Investments, the bookseller said in a statement. Waterstones operates a chain of 283 bookshops in the ...

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• 25 April

  UAE, Mexico to boost tourism ties

  MEXICO CITY / WAM The UAE Ambassador to Mexico Ahmed Hatem Al Menhali met with Mexico’s Secretary of Tourism Enrique de la Madrid Cordero in the country’s Ministry for Tourism located in Mexico City, to discuss a number of issues of common interest. The two sides reviewed ways to enhance relations, namely boosting bilateral tourism between the UAE and Mexico ...

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• 25 April

  NBF profit up 15.3%

  DUBAI / WAM National Bank of Fujairah (NBF) announced that it achieved to AED145.4 million in net profits in Q1 2018, with 15.3 percent rise compared to AED126.1 million in the corresponding period of 2017. Easa Saleh Al Gurg, NBF Deputy Chairman, said, “This reflects solid core business growth and proactive asset and liability management, the bank said in statement. ...

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• 25 April

  Shuaa arm to provide ‘short selling’ at ADX

  

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) celebrated the joining of Shuaa Capital’s brokerage subsidiary ‘Integrated Securities’ to the list of companies providing the technical short selling (TSS) service at the exchange. This makes Integrated Securities the third company to provide such service on the ADX. The ceremony included ringing of the opening bell on the ADX trading ...

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• 25 April

  Muslim travellers to spend $157bn by 2020

  

  Dubai / Emirates Business Muslim travellers will spend $157 billion by 2020, driven by millennial travellers and the top outbound market remains Saudi Arabia, which will grow 17 percent over the next three years alone, to reach $27.9 billion. The figures were released during Arabian Travel Market’s Global Halal Tourism Summit 2018, which was held at the Dubai World Trade ...

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• 25 April

  Global blockchain spend to hit $9.7bn

  

  Dubai / Emirates Business Blockchain adoption continues to grow across industries world-wide with total spending on blockchain solutions set to grow to $9.7 billion in 2021 according to International Data Corporation (IDC), leading provider of market intelligence, advisory services, and events for the information technology, tele-communications, and consumer technology markets. Startups in the nascent blockchain industry are driving this growth ...

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• 25 April

  flydubai to resume flights to Sulaimaniyah from May 10

  

  Dubai / WAM flydubai, the Dubai-based airline, on Wednesday announced that flights to Sulaimaniyah will resume from May 10. The carrier now operates to five points in Iraq including Baghdad, Basra, Erbil and Najaf. The decision to relaunch the flights was taken following Iraqi Authorities to reopen its airport last March. flydubai is the first carrier from the UAE to ...

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• 25 April

  Iron Mountain acquires Derby Records Management

  

  Dubai / Emirates Business Iron Mountain Incorporated, the global leader in storage and information management services, on Wednesday announced the acquisition of Derby Records Management FZ LLC in Dubai, expanding the company’s presence and scale in the fast-growing Dubai market. The acquisition of Derby Records Management FZ LLC will add two facilities and over 100 customers to Iron Mountain’s existing ...

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• 25 April

  90% food transport vehicles comply with hygiene rules

  Dubai / WAM The Food Inspection Section of Dubai Municipality’s Food Safety Department, in collaboration with the Roads and Transport Authority (RTA), Dubai Police and the Assets Management Department of the municipality, have organised an inspection campaign for food transport vehicles at the Warsan Vegetable and Fruits Market to ensure that they meet the hygiene requirements of the Food Safety ...

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