March, 2017

• 27 March

  Over 3mn counterfeit goods seized in Dubai in 7 days

    Dubai / WAM Over three million counterfeit products of more than 30 renowned brands were confiscated in Dubai within a week after Dubai Economy raided four warehouses in the emirate as part of its strategic focus to protect intellectual property and the rights of trademark owners and consumers. One of the warehouses had a stock of over one million pieces ...

  Read More »
• 27 March

  US travel sector to take a beating under Trump

  

    Bloomberg Like many Washington lobby groups, the US Travel Association was quick to congratulate the new president on his victory last November. “We are encouraged that Mr Trump’s extensive business and hospitality background … will make him a ready and receptive ear,” the trade organization said. Upon the Republican’s inauguration, the USTA’s chief executive, Roger Dow, pledged the industry ...

  Read More »
• 27 March

  BT to pay $429mn for late network installs

  

    Bloomberg BT Group Plc was fined a record 42 million pounds ($53 million) and ordered to reimburse another 300 million pounds to competitors after an investigation found the former phone monopoly failed to adequately compensate them for broadband service delays. The UK communications regulator Ofcom found a “serious breach” of rules in place to protect competitors who rely on ...

  Read More »
• 27 March

  Siemens AG pledges commitment to UK despite ‘unclear’ Brexit

  

    Bloomberg Siemens AG says it’s going to continue to invest into its London and UK operations despite the “unclear” future following Britain’s decision to leave the European Union. Siemens UK Chief Executive Officer Juergen Maier, visiting Berlin with Rajesh Agrawal, London’s deputy mayor for business, said London specifically is an important part of the future for Europe’s largest engineering ...

  Read More »
• 27 March

  Dyson’s cordless vacuums drive sales past $3bn

  

    Bloomberg Dyson Ltd. continues to prove making high-priced vacuum cleaners is a lucrative and growing business. The closely held UK firm said total sales grew 45 percent in 2016, to 2.5 billion pounds ($3.12 billion), largely due to demand for a new line of battery-powered cordless cleaners. The models, first introduced two years ago and costing about 500 pounds ...

  Read More »
• 27 March

  Kuwait to adopt new equities benchmark next year

  

    Reuters Kuwait’s stock exchange will introduce a new equities benchmark next year after completing a reorganization of its listed companies into new market categories, the bourse’s chief executive officer said. Boursa Kuwait, as the exchange is known, will group companies in segments according to criteria including market capitalization and average daily traded volume as part of a program to ...

  Read More »
• 27 March

  Global stocks sink as ‘Trump trade’ flips into reverse

  

    AP Stocks around the world sank on Monday on worries that the Trump White House may not be able to help businesses as much as once thought. Many of the trends that have been in place since Election Day went into sharp reverse: The dollar’s value sank against other currencies, as did bank stocks, while prices jumped for Treasury ...

  Read More »
• 27 March

  Mideast market follows global downtrend

    Reuters Most Middle Eastern stock markets fell in thin trade on Monday, in line with global losses, with Egypt hit particularly hard. The Saudi stock index edged down 0.3 percent in the lowest volume since September; declining shares outnumbered advancing ones by 115 to 31. Most petrochemical producers fell, with Saudi Kayan Petrochemical losing 0.7 percent. The largest dairy ...

  Read More »
• 27 March

  Lockheed’s $29bn copter may win Pentagon’s nod

  

    Bloomberg The Pentagon is poised to review — and probably approve — a new helicopter from Lockheed Martin Corp. to transport heavy cargo for the Marine Corps in a program valued at as much as $29 billion. The Defense Acquisition Board has scheduled a March 30 meeting to review whether to approve low-rate production for the first 24 of ...

  Read More »
• 27 March

  Emirates monitors US demand amid concerns about laptop ban

  

    Bloomberg Emirates will adjust its offering if customer demand drops following a US ban on in-flight electronics and called for the measure to be imposed more widely. The world’s biggest long-haul carrier will be watching bookings to its U.S. destinations “very carefully” to monitor any declines, Emirates President Tim Clark said in an interview with Bloomberg TV in Dubai. ...

  Read More »