Bloomberg The UK warned that flights may be grounded if the European Union doesn’t grant reciprocal approvals to its planes and airlines in the case of a no-deal Brexit — a scenario it maintains remains unlikely, despite a recent setback in negotiations. Britain will continue to recognise European Aviation Safety Agency certifications for up to two years after March 29, …

Bloomberg Sears Holdings Corp. is reviewing a proposal by Chief Executive Officer Eddie Lampert to keep the retailer alive by restructuring its debts and selling real estate. Plans outlined in regulatory filings include cutting debt by about 78 percent to $1.2 billion and extending near-term maturities, with annual interest savings of 80 percent. The proposal came from ESL Investments Inc., …

Bloomberg Unilever is campaigning to convince a growing number of dissenting UK shareholders that the company’s plan to consolidate its headquarters in the Netherlands has merit. The Anglo-Dutch consumer giant’s move to Rotterdam will have “great benefits” for UK investors, Chief Financial Officer Graeme Pitkethly said in a Tuesday interview with the BBC Radio 4 station, noting that they would …

Bloomberg New Jersey lawmakers gave preliminary approval to a jet-fuel tax that would force United Continental Holdings Inc. to pay for expanded passenger rail at Newark Liberty International Airport. Airlines are exempt from the state’s gross-receipts tax on petroleum products, with the exception of the fuel used during taxiing and take-off. A bill approved by the Senate budget committee would …

Bloomberg Next Plc raised its sales and profit outlook for the year, a rare bright spot in a season of woe for UK retailers struggling against soaring summer temperatures and the threat of Amazon.com Inc. The apparel chain had warned in August that a boost to summer sales in early summer would wane as the season dragged on. Instead, the …

Bloomberg Washington Real Estate Investment Trust (REIT) is exploring the sale of its retail portfolio, according to people familiar with the matter. The D.C.-based REIT is working with an adviser, which has contacted potential buyers, said the people, who asked not to be named because the information is private. The portfolio could fetch roughly $800 million, one of the people …

Abu Dhabi / WAM The UAE-Saudi non-oil trade has grown 1230 percent since the establishment of the GCC Customs Union in 2003 until H1 2018, according the statistics of the UAE Federal Customs Authority (FCA). The total non-oil intra-trade between the two countries amounted to AED720 billion ($196 billion) during the monitored period, with total UAE imports from the Kingdom …

ABU DHABI / WAM Al Dahra has announced that following its acquisition of Agricost and Braila Island, the largest consolidated farm in Europe, the company plans on investing an additional $500 million in Romania over the coming five years, in various sectors. This announcement coincides with a visit to Romania by a delegation comprising the executive leadership team from Al …

Bloomberg The Trump administration’s tariffs on another $200 billion in Chinese goods kicked in on Monday, ramping up a trade war between the world’s two biggest economies. The latest round of US duties took effect just after midnight Washington time on Monday on a list of products ranging from frozen meat to television components. China is poised to retaliate with …

DUBAI / WAM The race to become the world’s first smart city has become more exciting with recent and wider applications of disruptive technologies. The building blocks for smart cities will be showcased at the Future Cities Show (FCS), in April, 2019 in Dubai. With the theme ‘Propelling Globalisation through Digital Transformation’, FCS will support the growth of smart city …