October, 2017

• 10 October

  Kuwait’s Jazeera Air puts India debut ahead of long-haul move

  

  Bloomberg Kuwaiti discount carrier Jazeera Airways has delayed a planned expansion into long-haul flights to focus on extending its existing network to serve the Indian subcontinent. Jazeera, which has previously been limited to operations within the Middle East, will start operating to Hyderabad in India and Lahore in Pakistan this month before adding Delhi, Mumbai and Chennai later in the ...

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• 10 October

  Dassault mulls jet manufacturing in India in Modi push

  

  Bloomberg Dassault Aviation SA, the French maker of Rafale fighter jets, may build its business aircraft in India, in a boost to Prime Minister Narendra Modi’s push to encourage local manufacturing. Building the Falcon 2000 planes in India would cut costs while ensuring quality and execution that meets standards, Chief Executive Officer Eric Trappier said in an interview on the ...

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• 10 October

  BAE to cut almost 2,000 jobs

  

  Bloomberg BAE Systems Plc will eliminate almost 2,000 jobs as it struggles to secure new orders for the Eurofighter Typhoon warplane and slims down its naval ships and cyber-security businesses. Some 1,400 posts will go at the company’s military-aircraft unit, which employs about 12,500 people, with a further 375 positions to be eliminated in the maritime division and up to ...

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• 10 October

  Ikea to expand in S America, Southeast Asia

  

  Bloomberg Ikea is planning to enter South America and expand in Southeast Asia in its quest to dominate the world’s home furnishings market. Those regions are on the Swedish company’s radar after entries into India and Latvia this year, Inter Ikea Holding said. Retail sales including all franchisees and customer services amounted to 38.3 billion euros ($45 billion) in the ...

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• 10 October

  UK retail sales advance as Brexit price increases persist

  Bloomberg UK retailers are losing the battle against higher prices, potentially strengthening the case for the Bank of England to increase interest rates next month. A report on Tuesday from the British Retail Consortium and KPMG showed like-for-like sales increased 1.9 percent from a year earlier—a fourth straight month of gains. Still, the fastest growth since April was driven by ...

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• 9 October

  Aramco plans ‘mega investment’ in India

  

  Bloomberg Saudi Arabia’s state-owned oil giant has ‘mega investment’ plans for the world’s fastest growing oil market, according to Saudi Arabian Oil Co.’s chief executive officer. The company, popularly known as Saudi Aramco, plans to create a fully integrated business in India and is interested in partnering with Indian companies, including in a planned large refinery project on India’s west ...

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• 9 October

  Emirats Islamic completes $200mn Islamic financing to Ajman Bank

  

  Dubai / WAM Emirates Islamic announced the successful completion of a $200 million syndicated Murabaha term financing for Ajman Bank PJSC. Al Hilal Bank, Dubai Islamic Bank and Sharjah Islamic Bank joined the transaction as Initial Mandated Lead Arrangers & Bookrunners alongside Emirates Islamic. Emirates Islamic played a key role in coordinating the financing which carries a two year tenor. ...

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• 9 October

  Ajman-IBM deal to help spur emirate’s digital transformation

  

  AJMAN / WAM Digital Ajman Government signed a joint cooperation agreement with IBM, on the sidelines of its participation at GITEX Technology Week 2017. The agreement will see IBM providing consulting and strategic planning services and determining both the processes and the technology requirements for Ajman’s Digital Government implementations. The agreement also aims to strengthen cooperation and coordination in the ...

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• 9 October

  Abu Dhabi, Japan discuss ways to boost economic, investment ties

  

  ABU DHABI / WAM Saif Mohammed Al Hajeri, Chairman of Abu Dhabi’s Department of Economic Development (ADDED), and Hiroshige Seko, Japanese Minister of Economy, Trade and Industry, have discussed means to reinforce economic and investment cooperation between Abu Dhabi and Japan. During a meeting, the two sides discussed mutual cooperation in the investment field and the industrial sector by addressing ...

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• 9 October

  Online registrations for VAT open

  

  Abu Dhabi / WAM The UAE Federal Tax Authority (FTA), announced that online registration for Value Added Tax (VAT), is now open, through its website, as part of the Authority’s preparations for the 5 percent VAT, set to be introduced from January 1, 2018. This is part of the Authority’s commitment to facilitate the registration procedures for all businesses in ...

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