Toulouse / Bloomberg Airbus Group said on Wednesday its net profits climbed 15 percent last year and predicted deliveries of more than 650 aircraft in 2016 and a rise in orders to record levels. The France-based European aerospace group chalked up a net profit of 2.7 billion euros ($3.0 billion), with sales up 6.0 percent to 64 billion euros. Orders ...

Sydney / AFP Shopping centre giant Westfield on Wednesday recorded a US$2.3 billion net profit supported by healthy income growth for its US and British assets, as it flagged an August opening for its fully leased World Trade Center development. The Australian-listed company is reporting its first full-year result for the 12 months to December 31, 2015 since spinning off ...

Chicago / Bloomberg Boeing Co. expects China’s domestic freight market to surge in the next two decades and said it will offer conversions for its bestselling 737 passenger jets into cargo planes. The Chicago-based planemaker won 30 confirmed orders and 25 commitments from seven customers for the converted 737, Boeing said in a statement on Wednesday. The aircraft will be ...

NEW YORK / AP Macy’s wrapped up a weak fiscal year on an encouraging note, but the nation’s largest department store retailer still sees challenges ahead. Macy’s, which also operates Bloomingdale’s stores, reported a 31 percent decline in fourth-quarter profits, dragged down by store closings and other costs. But the adjusted results beat Wall Street estimates and sales picked up ...

Bloomberg Wesfarmers Ltd. posted a 1.2 percent increase in first-half profit and created a new department stores division as the nation’s largest retailer seeks to trim costs. Net income was A$1.39 billion ($1 billion) in the six months ended December 31, up from A$1.38 billion, the Perth, Western Australia-based company said in a regulatory statement Wednesday. That compared with expectations ...

CAPE TOWN / Bloomberg South Africa is considering merging two state-owned airlines and selling off a stake in the enlarged carrier to private investors, Finance Minister Pravin Gordhan said. The government will “explore the possibility of merging South African Airways (SAA) and SA Express, under a strengthened board, with a view to engaging with a potential minority equity partner,” Gordhan said ...

Bloomberg On the southeast coast of Australia, a A$5.7 billion ($4.1 billion) processing plant to turn the ocean into a source of drinking water has sat idle since it was built in 2012. That could change soon. The state of Victoria will decide by April whether to switch it on, sucking water from the Bass Strait through an underground tunnel ...

Erika Lindholm In our current economic system — the linear economic system — we extract resources from our planet at an ever-increasing pace, and turn them into a product that we mostly dispose after use. From the perspective of an individual or organization, that seems efficient. However, zooming out to a global level shows how unsustainable this approach is. The ...

Our Correspondent / EMIRATES BUSINESS Elegant Resorts is certainly adding a dash of luxury in the lifestyle of the UAE residents. You just name any of the lavish destinations from the world map and they would offer you a tailor-made travel itinerary exactly matching your likings and personality. In just few months of its UAE operations, Elegant Resorts has managed ...

Our Correspondent / Emirates Business Only a handful of companies in United Arab Emirates can be compared to the growth and diversification which Abela & Co has achieved over the last 50 years. This brand name would instantly come to mind when there is any mention about the food management service industry in the region. Established in Dubai by its ...