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Bloomberg Amazon.com Inc opened its largest campus building globally in the south Indian city of Hyderabad as it prepares for a furious expansion and battle with nemesis Walmart Inc in one of the world’s fastest-growing retail markets. The Seattle-headquartered company is making an ambitious push in India, the last major retail frontier still primarily reliant on small-scale neighbourhood and mom-and-pop ...

Bloomberg Cathay Pacific Airways Ltd expects “significant impact” on its revenue from August and beyond as travel demand gets affected by the months-long protests in Hong Kong. Both business and leisure travel into Hong Kong has “weakened substantially” and traffic from Hong Kong has started to soften, especially on short-haul routes to such countries as China and South Korea, Cathay ...

Bloomberg TJX Companies Inc, the owner of the Marshalls and TJ Maxx chains, reported sales growth that missed analysts’ projections, even as foot traffic into its stores continued to grow. The shares slipped. Comparable sales rose 2 percent in the second quarter, below the average estimate for 3 percent growth, according to Consensus Metrix, and down from last year’s speedier ...

Bloomberg Shoprite Holdings Ltd will look to cut costs outside its home market as Africa’s largest food retailer battles currency shortages and stricter regulation in several countries. The owner of supermarket chains such as Checkers and U-Save has been growing in 14 territories outside South Africa to become a continent-wide superpower, but factors such as inflation — particularly in Angola ...

RIYADH / WAM The joint forces of the Arab Coalition supporting the legitimate government in Yemen launched a military operation on Houthi military targets, including caves used by the militia to store ballistic missiles, drones and weapons, reported the Saudi Press Agency (SPA). Colonel Turki Al Maliki, the Coalition’s official spokesman said the forces carried out 2,256 hours of military ...

Dubai / WAM Medical tourism sales in the UAE increased 5.5 percent year-over-year to reach AED12.1 billion in 2018, with growth supported by several government-led initiatives and the rising number of medical tourists in the country, new analysis released by Dubai Chamber of Commerce and Industry revealed. The analysis, based on recent data from Euromonitor International and Fitch Solutions, found ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) announced that it will be the host sponsor of the 24th World Energy Congress (WEC), which will be held fr- om September 9 to12 in Abu Dhabi, under the theme ‘Energy for Prosperity’. Saeed Mohammed Al Tayer, MD & CEO of Dewa, will attend the conference and deliver a speech on ...

Bloomberg Saudi Aramco has picked Lazard Ltd. and Moelis & Co. to advise on the oil giant’s second attempt at the world’s largest initial public offering, people with knowledge of the matter said. The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be identified because the information is private. They ...

Bloomberg Oil fell for the first time in three days as US Secretary of State Mike Pompeo fanned the flames of the trade war with China, heightening concerns about economic growth that underpins energy demand. Futures fell as much as 1.7 percent in New York on Tuesday. Pompeo told CNBC that Huawei Technologies Co. and other Chinese companies pose national ...

DUBAI / WAM Travel is expected to reach an all-time high in the upcoming weeks for Emirates Airlines, as the carrier expects yet another busy period with travellers arriving into Dubai after the summer holidays and Eid breaks. Excluding transit passengers, over 500,000 people are expected to arrive into Dubai from August 20 until the beginning of September. Mohammed Mattar, ...