November, 2017

• 1 November

  US faces ‘mad dash’ to adjust to MiFID with two months to go

  

  Bloomberg For thousands of brokers, traders and money managers based in the US, time is running out. A shock wave is about to emanate from Brussels, the capital of the 28-nation European Union. That may as well be the dark side of the moon for some toiling away at financial firms in the US A sweeping set of financial regulations ...

  Read More »
• 1 November

  United Continental wants to acquire used Airbus jetliners

  

  Bloomberg United Continental Holdings Inc. wants to acquire as many as 40 used Airbus SE jets, seeking a thrifty way to bolster short-distance service as the airline struggles to get costs under control. The carrier is looking at A319 and A320 single-aisle aircraft, the Chicago chapter of the United pilots union said in a memo to its members. A deal ...

  Read More »
• 1 November

  Airbus faces US front in widening probe over deal payments

  

  Bloomberg Airbus SE alerted US authorities to potential regulatory breaches, opening a new flank in the group’s efforts to resolve a series of probes into the use of payments and middlemen to win new business. Toulouse, France-based Airbus took the step after an internal review revealed “inaccuracies” in applications for defense-export licenses, it said. The development adds to existing investigations ...

  Read More »
• 1 November

  Indian airline IndiGo profit beats analyst estimates

  

  Bloomberg Airbus SE and enginemaker Pratt & Whitney’s compensation to IndiGo for glitches that grounded jets helped India’s biggest airline post quarterly profit that exceeded analyst’s estimates. The problems plaguing the carrier’s operation since July were fixed earlier this month after Pratt & Whitney managed to replace the engines that power the Airbus’s A320neo jets. The world’s biggest buyer of ...

  Read More »
• 1 November

  Amazon’s ambitious October spooks stocks standing in its path

  

  Bloomberg The looming threat of Amazon.com Inc. siphoned billions in market cap from Under Armour Inc. to FedEx Corp. to Walgreens Boots Alliance Inc.— more than $30 billion combined—in October. Companies are gearing up to face Bezos’s behemoth heading into the holiday season, with some appearing ready to get creative as the state of their industries is shaken. CVS Health ...

  Read More »

October, 2017

• 31 October

  VP issues new law to help non-muslims register wills

  DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued Law No. 15 of 2017 regulating inheritance, wills and probate for non-Muslims. The law, which is applicable to the wills and assets of non-Muslims based in Dubai including the Dubai International Financial Centre (DIFC) creates a ...

  Read More »
• 31 October

  Majid Al Futtaim begins work on AED1.4bn mall in Abu Dhabi

  

  Abu Dhabi / WAM Al Jazira Sports and Cultural Club and Majid Al Futtaim officially broke ground, on Tuesday, on City Centre Al Jazira, the new AED1.4-billion lifestyle destination coming to Abu Dhabi. The new project will bring to the capital an integrated shopping, lifestyle and entertainment destination, contributing to Abu Dhabi’s vision that aims to develop a competitive, sustainable ...

  Read More »
• 31 October

  UAE economy to rebound in 2018

  Bloomberg The International Monetary Fund expects the UAE economic growth to nearly triple next year as Abu Dhabi benefits from an expected recovery in oil exports. The UAE’s GDP will expand 3.4 percent in 2018 from 1.3 percent this year, largely on expectations that growth in oil-rich Abu Dhabi will surge to 3.2 percent from 0.3 percent this year. Dubai’s ...

  Read More »
• 31 October

  Dubai Investments profit reaches AED350 million

  Dubai / WAM Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED350 million for the quarter ending September 30th, 2017, an increase of 4.8 percent over the AED334 million achieved during the same quarter last year. The company’s net profit for the first nine months of 2017 was AED830 million, ...

  Read More »
• 31 October

  Dana Gas leaves maturing sukuk unpaid

  

  Dubai / Reuters United Arab Emirates energy producer Dana Gas did not redeem some $700 million of its Islamic bonds when they matured on Tuesday as a dispute on the validity of the sukuk drags on in British and UAE courts, sources familiar with the matter said. Dana refuses to redeem its bonds because it claims changes in the interpretation ...

  Read More »