April, 2018

• 30 April

  Malaysia to double airport capacity for 2bn Asia fliers

  

  Bloomberg Malaysia Airports Holdings Bhd. plans to double Kuala Lumpur International Airport’s capacity as it seeks a bigger slice of the 2.1 billion more passengers expected in Asia Pacific in the next two decades. The company is looking to raise the capacity to 150 million, from the current 75 million, in the next 10 to 20 years, Raja Azmi Raja ...

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• 30 April

  Lotte to sell 22 Beijing stores to China’s Wumart operator

  

  Bloomberg Lotte Group’s retail unit is selling 22 of its stores in Beijing to China-based grocer and hypermarket rival Wumei Holdings Inc. for 256 billion won ($237 million), the Chosun Ilbo newspaper reported, without saying where it got the information. Lotte Shopping Co. has taken a sales hit in China over the past year after the group provided land for ...

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• 30 April

  Norwegian Air: Serious suitors after IAG move

  

  Bloomberg Norwegian Air Shuttle ASA said it has attracted interest from other potential suitors since the revelation that British Airways parent IAG SA may bid for the company. Norwegian received several inquiries after IAG disclosed that it was building a stake and might make a formal offer, it said, sending the stock 16 percent higher. Chief Executive Officer Bjorn Kjos ...

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• 30 April

  EBay forecast disappoints, highlighting threat of Amazon

  

  Bloomberg EBay Inc. gave a disappointing forecast for revenue growth in the second quarter, taking the shine off Chief Executive Officer Devin Wenig’s turnaround strategy. The online marketplace said sales will be $2.64 billion to $2.68 billion in the second quarter, while analysts were projecting $2.68 billion. The outlook stirred concerns about the company’s ability to return to consistent growth ...

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• 28 April

  UAE reaffirms commitment to peacebuilding worldwide

  NEW YORK / WAM Zaki Nusseibeh, Minister of State, has urged UN agencies and member states to take collective action to identify countries that support and finance terrorism, and hold them accountable, reaffirming the UAE commitment to peacebuilding in the Middle East and beyond. The minister made the remarks on the sidelines of his participation in the two-day United Nations’ ...

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• 28 April

  EU sounds trade-war alarm as Trump sticks to tariff plan

  

  Bloomberg The European Union warned about the costs of a trans-Atlantic trade war while bracing for one to erupt after the US signalled it will reject the bloc’s dem-and for an unconditional waiver from metals-import tariffs. “A trade war is a losing game for everybody,” Belgian Finance Minister Johan Van Overtveldt told reporters in Sofia. “We should stay cool when ...

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• 28 April

  ADM’s AED118mn Al Maqta South project to be completed in Q2

  ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) nearly completed Roads and Infrastructure Project of District 25 at Al Maqta South. The project is expected to be completed in the second quarter of 2018 in cooperation with Musanada, at a cost of more than AED118 million, according to an ADM press release. The development includes construction of roads ...

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• 28 April

  Dewa, GE sign AED192.7 million pact

  DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) has signed an agreement with General Electric to extend the lifetime of the GE 9E gas turbines at E station at the Jebel Ali Power and Desalination Station, worth AED192.7 million. The work is scheduled to start in the first quarter of 2019 and end in the first quarter of ...

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• 28 April

  Al Qudra profit hits AED212mn

  

  ABU DHABI / WAM Al Qudra Holding PJSC has posted consolidated net profit of AED212.4 million for the year 2017. This was announced at the annual general meeting for 2017, during which the board of directors announced “great results at all levels and presented its 2017 full activity report for financial year ending on December 31, 2017,” according to a ...

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• 28 April

  DP World holds first live virtual annual meeting

  DUBAI / WAM DP Global trade enabler DP World has staged the first ever live virtual annual general meeting for shareholders at its HQ in Jebel Ali. Shareholders were connected by a live webcast and telephone conference facility across the region and the world in order to cast their votes on the re-election of board members and to be briefed ...

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