October, 2017

• 29 October

  British Airways owner sacrifices fare gains in US route battle

  

  Bloomberg British Airways owner IAG SA struggled to raise ticket prices at the same pace as rivals as the airline group boosts long-haul budget options to counter tougher competition on its core US routes. Gains in passenger unit revenue, a measure of ticket pricing, slowed to 2.2 percent in the third quarter from a 4 percent jump in the three ...

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• 29 October

  Ryanair says it’s making progress easing ‘shortage’

  

  Bloomberg Ryanair Holdings Plc’s effort to ease the shortage of pilots that contributed to months of flight cancellations may be bearing fruit, and could give the carrier leverage in a pay dispute with some existing employees. Europe’s biggest discount airline hired more than 200 pilots this month, according to a copy of a briefing document the carrier sent to employees. ...

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• 29 October

  Under Armour’s signature shoe gets delayed

  

  Bloomberg The latest installment of Under Armour Inc.’s best-selling sneaker is expected to be late hitting stores, dealing a blow to an athletic brand that’s trying to bounce back from sputtering growth. The adult version of the shoe—known as the Curry 4—was slated to hit stores last week. But Foot Locker Inc., Dick’s Sporting Goods Inc. and Hibbett Sports Inc. ...

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• 29 October

  Vietnam’s biggest-ever initial public offering prices at top

  Bloomberg Vincom Retail JSC’s existing investors raised $709 million after pricing an initial public offering of the Vietnamese mall operator at the top end of a marketed range. Existing shareholders including Warburg Pincus and Credit Suisse Group AG priced 396.5 million shares at 40,600 dong apiece, according to terms for the deal obtained by Bloomberg. The stockholders initially offered 380.2 ...

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• 28 October

  Dubai launches $735mn e-commerce free zone

  

  DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Airport Freezone Authority (DAFZA), witnessed the launch of ‘Dubai CommerCity,’ an AED2.7-billion ($735mn), 2.1-million square feet joint venture between DAFZA and wasl Asset Management Group, in the Umm Ramool area. Dubai CommerCity, the first free zone dedicated to e-commerce in the MENA region, is strategically intended ...

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• 28 October

  UAE calls for women’s participation in peace efforts

  NEW YORK / WAM The UAE has called for the international community to promote the participation of women in peace and security efforts to prevent conflict and promote sustainable peace at the UN Security Council’s open debate on Women, Peace and Security (WPS). The UAE reaffirmed its commitment to advocate for the full participation of women in all aspects of ...

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• 28 October

  UAE-India forum to focus on meeting $100bn bilateral trade target by 2020

  

  Dubai / Emirates Business The third edition of the annual UAE-India Economic Forum (UIEF) will be staged in Dubai on November 8 and 9, aimed to explore bilateral economic and commercial relations between the two countries to the next level. The UIEF is supported by the UAE Ministry of Economy and endorsed by UAE International Investors Council, UAE – India ...

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• 28 October

  ADWEA’s arm launches projects worth AED359mn

  ABU DHABI / WAM Abu Dhabi Transmission and Despatch (TRANSCO), a subsidiary of the Abu Dhabi Water and Electricity Authority (ADWEA), launched a package of new expansion projects in the emirate of Abu Dhabi and the northern region, at a total cost of AED359 million. Abdullah Ali Musleh Al Ahbabi, Chairman of the ADWEA Board of Directors, said the projects ...

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• 28 October

  Saudi ready to extend oil output cut deal

  KHOBAR / Reuters Crown Prince Mohammed bin Salman on Saturday reiterated Saudi Arabia’s readiness to support the extension of a global oil production cut agreement. “The Kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by rebalancing supply and demand,” the crown prince said in a statement. “The high demand for oil has absorbed the ...

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• 28 October

  UAE among top investors in Africa

  Dubai / Emirates Business The Dubai Chamber of Commerce and Industry’s efforts in backing small and medium enterprises in Africa have led to further Gulf Cooperation Council (GCC) investment in the continent, concluded the Economist Intelligence Unit (EIU) report, “New Horizons: Next generation Africa-GCC business ties in a digital economy”. Sponsored by the Dubai Chamber and launched in preparation for ...

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