April, 2018

• 14 April

  Steinhoff raises $313 million from Africa unit share sale

  

  Bloomberg Steinhoff International Holdings NV raised 3.75 billion rand ($313 million) from the sale of shares in the embattled retailer’s African operations to further shore up its balance sheet following an accounting scandal late last year. The move follows similar disposals of stock in South Africa’s KAP Industrial Holdings Ltd. and investment holdings company PSG Group Ltd. The total generated ...

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• 14 April

  Air Arabia Egypt starts Sohag-Kuwait route

  Egypt / Emirates Business As part of its route expansion strategy, Air Arabia Egypt launched a new route linking Sohag in Egypt to Kuwait. The new flights operate three times a week, on Tuesdays, Wednesdays and Thursdays, departing from Sohag International Airport (HMB) at 2340 hours and arriving in Kuwait International Airport (KWI) at 0305 hours the following day. The ...

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• 14 April

  Britain’s Carpetright plans to close 92 stores in restructuring

  

  LONDON / Reuters Struggling British flooring retailer Carpetright said it would seek creditor approval for a restructuring plan to close 92 stores and reduce rents at 113 of its sites, resulting in about 300 job losses. Shares in Carpetright, which has in recent months issued a series of profit warnings because of weak UK retail spending and what it calls ...

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• 11 April

  Etihad ESCO plans to reduce 1 million tons of CO2 by 2030

  

  DUBAI / Emirates Business More than 1 million Tons of Carbon Dioxide will be abated by 2030 and 1.7 TWh of electricity will be saved by the same year in Dubai, according to the new targets revealed by Dubai’s Etihad Energy Services Company, Etihad ESCO, at the 4th annual RetrofitTech Dubai Summit & Awards which began on Wednesday. The event ...

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• 11 April

  Mashreq establishes $1bn CD programme in Hong Kong

  Dubai / Emirates Business Mashreq Bank, the UAE’s leading financial institution, has established a $1 billion multi-currency Certificate of Deposit Programme (CD programme) in Hong Kong. The CD programme, which aims to provide access to new liquidity pools in Asia-Pacific, is offered in multiple currencies. The launch of the programme highlights Mashreq’s growth in Asian markets given the positive momentum ...

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• 11 April

  Emirates AOG to quickly transport aircraft parts

  Dubai / Emirates Business Emirates SkyCargo, the world’s largest international cargo airline, has launched Emirates AOG – a new airfreight product designed for transporting aircraft parts quickly across the globe. Every day, spare parts are airfreighted at short notice to help repair aircraft that have been stranded due to technical reasons and lack of availability of the right spare part. ...

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• 11 April

  Dubai’s dnata to acquire Qantas catering businesses

  

  Dubai / Emirates Business Global air services provider dnata on Wednesday announced it has signed an agreement to acquire Qantas’ catering businesses. The agreement is subject to approval from the Australian Competition and Consumer Commission (ACCC). Qantas’ catering businesses include wholly-owned subsidiaries Q Catering Limited and Snap Fresh Pty Limited. Q Catering has centres in four Australian ports – Sydney, ...

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• 11 April

  UAE, FBI discuss ways to tackle cyber threats

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received on Wednesday the Director of the US Federal Bureau of Investigation (FBI), Christopher A. Wray. HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, was also present during the meeting. His Highness Sheikh ...

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• 11 April

  Cabinet okays National Media Council board

  Abu Dhabi / WAM The UAE Cabinet reviewed the achievements of the national media sector and its contribution to UAE’s development and the Government’s objectives of UAE Centennial Strategy 2071. The Cabinet approved the formation of the Board of Directors of the National Media Council (NMC), in line with the government’s continuous efforts to enhance working methods and performance. The ...

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• 11 April

  Al Isra’a Wal Mi’raj holiday for private sector on Apr 14

  

  Abu Dhabi / WAM Saturday, April 14, has been declared an official paid holiday for all workers in the UAE’s private sector establishments, institutions and companies, to mark Al Isra’a Wal Mi’raj. The declaration was announced in a note issued by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, to implement a related decision by the UAE ...

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