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Bloomberg Magazine Luiza SA, the Brazilian retailer that is fast becoming one of the country’s leading e-commerce providers, sold shares at 43 reais each, according to people with direct knowledge of the matter. The company’s offering raised a total of 4.7 billion reais ($1.13 billion), including a primary sale of 100 million shares, according to one of the people, who …

Bloomberg JetBlue Airways Corp, bowing to rising competitive pressures, began offering a no-frills option in the first revamp of its fare categories since they were introduced in 2015. Customers buying a reduced Blue Basic fare won’t get a refund if they have to cancel, can’t make changes to the reservation and will have to board last — standards that match …

Bloomberg Cathay Pacific Airways Ltd issued its second profit warning in less than a month as Hong Kong’s flag carrier continues to struggle from a slumping number of visitors because of the protests that have gripped the city for months. Second-half financial results will be “significantly” lower than in the first, Cathay said in a statement on Wednesday. The language …

Bloomberg Takeaway.com CEO Jitse Groen said it doesn’t make sense to overpay in its bid to gain control of UK rival Just Eat Plc. “I don’t want to be the idiot that runs into a ratio that doesn’t make any sense,” Groen said at the sidelines of the Morgan Stanley European Technology, Media & Telecom Conference in Barcelona. Takeaway published …

ABU DHABI / WAM Collaboration between the United States and the Organisation of the Petroleum Exporting Countries (Opec), is “not on the cards,” according to Francis R. Fannon, US Assistant Secretary for the Bureau of Energy Resources at the US Department of State. In an interview with Emirates News Agency (WAM), Fannon said the “US presence on the energy market …

ABU DHABI / WAM Aldar Properties on Tuesday reported a 14 percent year-on-year increase in gross profit to AED662 million in the third quarter of 2019. Also, the company’s revenue increased seven percent to AED1.60 billion compared to AED1.50 billion in Q3 2018. Development management recorded 20 percent growth in revenue to AED642 million, off-plan development sales increased 272 percent …

DUBAI / WAM Dubai Islamic Economy Development Centre announced results of the State of the Global Islamic Economy Report. The seventh edition of the report presents an annual update on continued global growth of the Islamic economy, encompassing halal products, Islamic finance and related lifestyle sectors. This year’s SGIE report, produced by DinarStandard, a US-based research and advisory firm, estimates …

Bloomberg SunPower Corp, one of America’s largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop solar systems. The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement. As part of the …

Bloomberg Angola may buy as much as 5,000 megawatts from neighbouring Democratic Republic of Congo’s proposed $14 billion hydropower plant. In its current design, the Inga III dam would be the biggest hydropower plant in Africa, generating 11,050 megawatts. The two partners developing the project — one Chinese, one Spanish — submitted a joint proposal to the Congolese government last …

Bloomberg East Africa’s largest economy needs between $15 billion and $18 billion to achieve all-round electricity access by 2022, according to Power For All, a global coalition of 200 private and public organisations campaigning for universal reach. “With almost $15 billion in investment into a suite of projects — geothermal, off-grid, energy efficiency, transmission — Kenya could achieve universal access …