March, 2018

• 3 March

  Norges Bank has inflation target cut after struggling to meet it

  

  Bloomberg Norway lowered the central bank’s inflation target after policy makers struggled to meet the goal, going against the grain in a global debate where many have called for levels to be raised to allow more room to support economies. The government reduced the target to 2 percent from 2.5 percent, bringing it in line with other central banks such ...

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• 3 March

  American Air’s spat with United threatens $8.5bn O’Hare revamp

  

  Bloomberg American Airlines Group Inc. is crying foul over a planned $8.5 billion renovation of Chicago’s O’Hare International Airport, claiming a “secret provision” awards additional gates to United Continental Holdings Inc. in a terminal slated to be torn down. The arrangement favouring Chicago-based United was “inserted at the last minute,” American said. United called the claim “disingenuous,” denied there was ...

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• 3 March

  New Manila Airport bid challenged by $3bn offer

  

  Bloomberg A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3 billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan. The GMR-Megawide venture, which is operating and expanding another airport in central Philippines, said it can increase the airfield ...

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• 3 March

  Airbus may stock up on jet parts to avoid Brexit delays

  

  Bloomberg Airbus SE may need to stock up on the parts it needs to build wings at its UK plants to avoid the risk of delays to deliveries once Britain formally leaves the European Union. The European planemaker has warned that it can only ensure the UK factories remain untouched if its operations retain the same level of efficiency. “If ...

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• 3 March

  Amazon prepares to hire for web services office in Argentina

  Bloomberg Amazon.com Inc.’s data services division is recruiting for several positions in Argentina, signalling the online retailer is expanding its presence in Latin America beyond Mexico and Brazil. The Seattle-based company is advertising for eight full-time positions for its Amazon Web Services cloud-computing business. The job postings on Amazon’s company website include a senior consultant on migration, sales account managers ...

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• 3 March

  JC Penney, Foot Locker pounded as retail jitters resurface

  

  Bloomberg After the strongest holiday-shopping season in more than a decade, investors have grown increasingly impatient with retailers that didn’t enjoy the good fortune. Shares of J.C. Penney Co. and Foot Locker Inc. tumbled in the wake of lukewarm results during the fourth quarter, which included the crucial Christmas season. The chains both posted weaker-than-expected comparable sales, a key benchmark. ...

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February, 2018

• 28 February

  VP: No increase in UAE federal fees for 3 years

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the UAE under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, prioritises the socio-economic stability of citizens and residents. His Highness’ comments came as he chaired the UAE Cabinet meeting in ...

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• 28 February

  Dubai, Bogota chambers keen to boost ties

  DUBAI / WAM The Dubai Chamber of Commerce and Industry on Wednesday signed a memorandum of understanding (MoU) with the Bogota Chamber of Commerce on the sidelines of the Global Business Forum on Latin America 2018, which will pave the way for stronger investment and trade ties between Dubai and the city-region of Bogota, Colombia. The MoU was signed by ...

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• 28 February

  Abraaj defers fundraising for $6 billion new fund

  DUBAI / Reuters Dubai-based private equity firm Abraaj has suspended fundraising for a new $6 billion fund, sources familiar with the matter said, as the firm began a review of its business following a dispute with some of its investors in a healthcare fund. The fund had its first close of about $3 billion last year, but has paused fresh ...

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• 28 February

  ENEC says first nuclear reactor closer to start up

  ABU DHABI / AGENCIES Emirates Nuclear Energy Corp (ENEC), building the world’s largest single nuclear project, is testing operations of what could be the first reactor in the United Arab Emirates. The Barakah project of four plants in Abu Dhabi is more than 87 percent finished, with unit 1 being prepared and tested, ENEC said on Wednesday in an emailed ...

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