PLANO, TEXAS: J.C. Penney Company, one of the nation’s largest apparel and home retailers, has entered into a restructuring support agreement (RSA) with lenders holding approximately 70% of JCPenney’s first lien debt to reduce the Company’s outstanding indebtedness and strengthen…
LUXEMBOURG: Corporación América Airports, the largest private sector airport operator in the world by number of airports, has reported a 98.3% decline year-over-year passenger traffic in April 2020. Total passenger traffic in April 2020 dropped 98.3% YoY, primarily reflecting continued…
WASHINGTON: CoStar Group Inc., the leading provider of commercial real estate information, announced plans to acquire Ten-X for $190 million in cash. Ten-X was launched in 2009 with the goal of providing a digital transaction platform for effectively liquidating the…
SEATTLE: Amazon Web Services Inc. (AWS), an Amazon.com company, announced a series of major enhancements to Amazon Macie, delivering important new features, greater availability worldwide, and substantially reduced pricing. The new features include updated machine learning models for more accurate…
MOSCOW: X5 Retail Group, a Russian food retailer, announced its accession to the UN Global Compact (UN GC), which is an international business initiative in the field of corporate social responsibility and sustainable development. By joining the UN GC, X5…
LONDON: GE has announced the appointment of Masroor Mahmud as its CEO for Pakistan. He is mandated with driving the company’s growth in the country and aligning business strategy across all GE sectors with the government’s vision for development. In…
KARACHI: The findings of the Dun & Bradstreet’s Business Optimism Index (BOI) for the first quarter of 2020 released on Monday shows that enforcement of the Covid-19 lockdown in the third week of March had only intensified the deterioration in…
MANAMA, BAHRAIN: Bahrain Telecommunication Company (Batelco) has repaid in full US$ 473 million of the outstanding senior unsecured bond issued by a subsidiary company and due on 1st May 2020. The US$ 650 million bond was issued in 2013, with…
DUBAI: Nabil Habayeb, GE’s President and CEO for the Middle East, North Africa and Turkey, has been named Senior Vice President, GE, and President & CEO, Global Growth Organization (GGO) effective June 1, 2020. Habayeb succeeds Rachel Duan, Senior Vice…
NEW YORK: To keep devices safe from cyber attacks during COVID19 lockdowns, Microsoft has shared some useful guidelines on cybersecurity and data protection. “Our world has changed dramatically over the last couple of months and in an effort to keep…
KARACHI: Pakistan International Airlines (PIA) has reached a landmark agreement in distribution with Amadeus, the leading travel technology company, giving PIA full access to Amadeus’ global travel seller network. Through this new agreement, Amadeus-connected agencies will now be able to…
MOSCOW: Metalloinvest Finance, a leading global iron ore and HBI producer and supplier and one of the regional producers of high-quality steel, has announced the appointment of Nazim Efendiev as CEO of Management Company Metalloinvest. He will combine the new…