February, 2018

• 18 February

  ECB’s Rimsevics detained by Latvian anti-graft bureau

  

  Bloomberg Latvian central bank Governor Ilmars Rimsevics was detained by the country’s anti-corruption bureau, the prime minister said in a statement on Sunday. The government has full trust in the work of the anti-graft body and won’t interfere in its work, according to the statement sent by the office of Premier Maris Kucinskis. No further details on the reason for ...

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• 18 February

  ­Military maneuvers prompt EU tug of war over development bank

  

  Bloomberg As the European Union pushes for a new role in military matters, the bloc has thrust its development bank into the center of a policy struggle that reveals an old fissure over the very nature of the EU project. The European Investment Bank (EIB) is getting prodded to be bolder about lending to defense companies by a France-led group ...

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• 18 February

  Qantas faces looming funding crunch to buy new planes

  

  Bloomberg After delaying spending on its fleet for too long during a turnaround program, Qantas Airways Ltd. faces a possible funding squeeze when it’s time to buy new planes, according to S&P Global Ratings. The Australian flag carrier needs to increase investment in its aging fleet of 309 planes before the sum required is too large to handle, S&P said ...

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• 18 February

  UK retail sales barely grow as consumers subdued by inflation

  

  Bloomberg UK retail sales barely grew in January, more evidence consumers are reluctant to splash out amid a squeeze from rising prices. Sales increased 0.1 percent from December, far below the 0.5 percent gain forecast by economists in a Bloomberg survey. From a year earlier, sales rose 1.6 percent, the weakest for a January in four years, the Office for ...

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• 18 February

  Tesco gets investor pressure to sweeten Booker price

  

  Bloomberg Tesco Plc faces growing investor pressure to sweeten its 3.9 billion pound ($5.5 billion) offer for wholesaler Booker Group Plc ahead of a shareholder vote in less than two weeks. Alpine Associates Management Inc. opposes Tesco’s offer on the existing terms and believes Booker shareholders should vote against the deal, the investor said by email. Alpine has an economic ...

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• 18 February

  Amazon’s top apparel victims: Target, Macy’s, JC Penney

  

  Bloomberg US shoppers may be ordering more clothing than socks and underwear on Amazon after all. Amazon.com Inc. is spiriting away share of apparel sales from Target Corp., Macy’s Inc. and JC Penney Co., according to a report by Coresight Research. Amazon Fashion is tied with Target as the second-most-shopped apparel retailer in the US, behind Walmart Inc., as measured ...

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• 17 February

  Experts to discuss fraud prevention at Abu Dhabi meet

  Abu Dhabi / WAM The Abu Dhabi Accountability Authority (ADAA) will host leading experts in fraud prevention for the 2018 ACFE Fraud Conference Middle East on February 25-27. The 3rd edition of the regional conference, to be held at the Jumeirah at Etihad Towers hotel in Abu Dhabi, will gather more than 300 anti-fraud experts from across the public and ...

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• 17 February

  DP World inks infrastructure agreement with Indian state

  

  DUBAI / WAM The Government of Dubai, global trade enabler DP World and the Government of Jammu and Kashmir signed a Memorandum of Understanding (MoU) to explore opportunities to develop trade infrastructure in the state. The agreement will see discussions take place on a multi-modal logistics park and hub in Jammu, comprising warehouses and specialised storage solutions that will also ...

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• 17 February

  UAE remains committed to oil cut deal: Mazrouei

  

  Abu Dhabi / WAM The UAE will remain committed to the global oil output reduction deal to eliminate the remaining glut on the market which amounts to 100 million barrels to reach the average target of the coming five years, according to Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry. OPEC and non-OPEC commitment to the ...

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• 17 February

  ‘Investing in education key to surviving economic challenges’

  DUBAI / WAM Investing in education, know-how and inter-governmental integration to ensure urban development and social cohesion are all essential factors to reducing poverty, inequality, mitigating the effects of climate change, and addressing the negative sides of new technologies, according to the Director of the United Nations Research Institute for Social Development (UNRISD). Paul Ladd made the remarks while addressing ...

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