Bloomberg One year after losing his wife in the Boeing Co 737 Max crash in Ethiopia, it’s the lack of information about what happened that is prolonging Bayihe Demissie’s grief. More than 500 family members of victims of the disaster will gather at the crash site outside the capital, Addis Ababa, to commemorate the first anniversary of the tragedy. As ...

Bloomberg Modell’s Sporting Goods Inc is preparing a bankruptcy filing that could come soon after the retailer failed to garner enough support from its vendors and landlords. Following weeks of negotiations with its stakeholders, the family-owned retail chain is looking to file for Chapter 11 protection and sell assets through a court-supervised bidding process, Chief Executive Officer Mitchell Modell said ...

TASHKENT / WAM ACWA Power announced the signing of three new strategic agreements, potentially worth up to $2.5 billion, with the Ministry of Energy of Uzbekistan to amplify power generation and develop technical expertise. The agreements include a 25-year Power Purchase Agreement (PPA), and Investment Agreement – with a total investment value of $1.2 billion – for the development, construction ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, has said that tolerance is a solid Emirati approach that was laid down by the Founding Father the late Sheikh Zayed bin Sultan Al Nahyan, and continued under the country’s wise leadership through the consolidation of the values and principles of tolerance, peace and love. Sheikh Nahyan ...

SHARJAH / WAM The Sharjah Airport International Free Zone (Saif Zone), announced that the Germany-based International KG is going to base its regional operations in the free zone, after a lease contract was concluded between both entities. Under the agreement, Schüco will lease 14 warehouses covering a total area of 8,400 square metre, making it the biggest number of warehouses ...

Bloomberg Saudi Arabia plans to boost oil output next month to well above 10 million barrels a day, as the kingdom responds to the collapse of its Opec+ alliance with Russia. The world’s largest oil exporter engaged in an all-out price war by slashing pricing for its crude by the most in more than 30 years. State energy giant Saudi ...

ABU DHABI / WAM Sheikha Shamma bint Sultan bin Khalifa Al Nahyan on Sunday announced the launch of ‘20 for 2020’, an innovative programme launched to drive gender balance at a board-level. Twenty women will have the opportunity to partake in a year-long professional development course while they gain board-level experience. The overarching objective of ‘20 for 2020’ is to ...

Ajman / Emirates Business An audit revealed that 31 percent of the companies currently trading in Ajman Free Zone (AFZ) have been founded by women. Striking a gender balance among employees is a crucial goal for AFZ especially in line with the UAE Gender Balance Council’s vision which seeks to reduce the gender gap across all government sectors as well ...

DUBAI / WAM The Dubai International Financial Centre (DIFC), announced a record growth in 2019, registering an addition of 493 new businesses for the year. The total number of firms in the centre reached 2,437, up 14 percent from 2018, with a total of 32 percent growth since 2017. The DIFC now counts 17 of the world’s top 20 banks, ...

DUBAI / WAM The Department of Finance (DoF), of the government of Dubai on Sunday launched a massive promotional campaign to encourage emirate’s residents to increase their use of smart channels, for paying fees for various government transactions with all Dubai government entities. The campaign is scheduled to start on Sunday and ends on April 7. Abdulrahman Saleh Al Saleh, ...