LONDON / Bloomberg Tesco has announced on Wednesday that it rebounded into slender annual net profits on strong sales, after a vast property write-down and challenging home trade sparked a record loss the previous year. The troubled British supermarket giant revealed that earnings after taxation stood at £138 million ($197 million) in its 2015/2016 financial year, which ran until the ...

  Reuters Teen apparel retailer American Apparel Llc is laying off hundreds of workers as it overhauls its production process, which could include outsourcing part of its production to another US manufacturer, the Los Angeles Times reported. “If we do decide to produce some pieces out-of-house, they will still be American-made,” Chief Executive Paula Schneider wrote in a letter obtained ...

  Reuters Mall operator Aeon Co Malaysia has established twin debt facilities to raise up to 1 billion ringgit ($260 million) in Islamic securities, according to a regulatory filing by credit rating agency RAM Ratings. The issuance plan from Aeon, 51 percent owned by Japan’s largest retailer Aeon Co Ltd, includes 15-year Islamic medium-term notes and 7-year Islamic commercial papers. ...

  DUBLIN/ Reuters Ryanair is all set to launch its first loyalty scheme in decades, introduce customer satisfaction surveys and allow “one-tap” upgrades using mobile phones as it extends its efforts to rid itself of a reputation for poor service. The Irish low-cost airline, Europe’s largest by passenger numbers, has seen profits and passenger numbers soar since Chief Executive Michael ...

  Riga / AFP Latvia’s airBaltic, which will be the first airline to operate Bombardier’s CS300 plane commercially, said it had increased its order with the Canadian manufacturer from 13 to 20 aircraft. “This brings the total order for 20 planes to a book price of around $1.5 billion” (1.3 billion euros), airBaltic spokesman Janis Vanags said. The Latvian flag ...

  Bloomberg Commercial space exploration can advance at the fast pace of internet commerce only if the cost is reduced through advances in reusable rockets, Amazon.com Inc. Chief Executive Officer Jeff Bezos said. The e-commerce pioneer drew comparisons between the growth of his online retail business over the past 20 years and his investments in space exploration with his company ...

  Abu Dhabi / WAM Masdar, Abu Dhabi’s renewable energy and sustainable development company, and the Abu Dhabi Urban Planning Council (UPC) on Tuesday announced the UPC’s approval of the Detailed Master Plans for Phases 2 and 5 of Masdar City, one of the world’s most sustainable urban developments. Masdar City is targeting a 4 Pearl Estidama Community Rating, the ...

  ABU DHABI / WAM The Federal National Council (FNC) on Tuesday called for devising a strategic plan to Emiratise the telecommunications sector during a session for debating the policy of the Telecommunications Regulatory Authority (TRA). The house recommended that the plan should include programmes and initiatives on the best methods to nationalise the vital sector and should consider the ...

  DUBAI / WAM Dubai Electricity and Water Authority(DEWA) signed a Memorandum of Understanding (MoU) with SAP, the German multinational software corporation that makes enterprise software, at the Dubai International Government Achievements Exhibition (DIGAE) 2016, held from April 11-13 at the Dubai International Convention and Exhibition Centre under the patronage of Vice President and Prime Minister and Ruler of Dubai ...

  ABU DHABI / WAM The Foreign Direct Investment Transparency Index in the Emirate of Abu Dhabi scored 71.5 points in 2015 on the 100-point index scale, which largely reflects a higher level of transparency in direct foreign investment policies and investors’ awareness of the transparency of the policies adopted by the UAE Federal Government and the sound policies of ...