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Bloomberg Lucky’s Market, a Colorado-based grocer that bills itself as offering “organic for the 99%,” filed for bankruptcy after it began closing most of its stores. About 3,000 jobs are at stake. The company listed assets of as much as $500 million and liabilities of at least that amount in a bankruptcy petition filed in Delaware. Lucky’s operated 39 stores ...

Bloomberg The helicopter carrying retired basketball star Kobe Bryant and eight others had been cleared to operate in deteriorating weather but not the dense clouds into which it apparently flew shortly before crashing, according to investigators and flight data. The Sikorsky S-76B was flying under air-traffic rules mandating that the pilot maintain visibility with surroundings, but in the final minute ...

Bloomberg Boeing Co has received more than $12 billion of orders for a loan that will help bolster the planemaker’s finances as it grapples with a crisis that’s left its 737 Max grounded since March, according to people familiar with the matter. The deal was expected to be finalised, said one of the people who asked not to be named ...

ABU DHABI / WAM The UAE ranked first in the Arab world and 21st globally on the Global Labour Resilience Index 2020, which was issued in Davos, Switzerland during a special session held on the sidelines of the 50th summit meeting of the World Economic Forum in the presence of Sultan bin Saeed Al Mansouri, Minister of Economy, and officials ...

SHARJAH / WAM The Sharjah National Oil Corporation (SNOC) and its Italian partner ENI, have announced a successful new discovery of natural gas and condensate onshore at the Mahani field in Sharjah. The discovery at Mahani-1 exploration well, with flow rates of up to 50 million standard cubic feet per day, comes within the first year of the partnership and ...

ABU DHABI / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, received Pavan Kapoor, Ambassador of India to UAE, to discuss ways of promoting bilateral ties between UAE and India. The two sides explored ways of enhancing cooperation relations across various fields. They also reviewed issues of mutual interest and exchanged views on regional, international developments. ...

Bloomberg Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply. Futures plunged more than 3% as China reported an increase in fatalities and infections. While the country extended the Lunar New Year holiday to control the outbreak, more cases have been reported in ...

DUBAI / WAM Emirates NBD has announced that it delivered a strong set of results with net profit up 44% y-o-y to AED14.5 billion in 2019. According to a press statement issued by the bank on Monday, net interest income increased 26% due to loan growth and non-interest income grew 38% due to higher foreign exchange and credit card related ...

RAS AL KHAIMAH / WAM HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has issued compensation of AED9 million to those affected by the recent rain in the Emirate. A committee was established under Sheikh Saud’s directions, including the directors of several departments and local bodies in the Emirate, to assess the ...

DUBAI / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, reported a net profit of AED871 million in 2019, representing a remarkable increase of 8.3% year-over-year (YoY). The company has achieved a total revenue of AED2.19 Bn an increase of 7.9% YoY. Commenting on Empower’s financial results at the annual press conference, Ahmad ...