Bloomberg Philippine food maker Monde Nissin Corp. is weighing options including a potential minority stake sale for Quorn Foods, a British producer of meat substitutes, people with knowledge of the matter said. Monde Nissin, which makes the best-selling “Lucky Me!” instant noodles in the Philippines, is working with an adviser to look for an equity investor in Quorn, said the ...

Bloomberg United Airlines Chief Executive Officer Oscar Munoz will hand the reins to President Scott Kirby next year, capping a tenure in which he turned around the perennial laggard. Kirby will take over as CEO in May while Munoz becomes the executive chairman, the carrier said in a statement. Kirby joined United in 2016 after leaving American Airlines Group Inc. ...

ABU DHABI / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), highlighted the distinguished position the UAE occupies in the field of humanitarian efforts regionally and internationally thanks to the efforts of Emirati volunteers. The UAE, under the leadership of President His Highness Sheikh Khalifa bin ...

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies sent mixed signals about whether they were considering deeper production cuts, fanning oil-market speculation before crucial talks in Vienna this week. Iraq, which has the worst record among major producers of implementing the group’s current supply deal, pushed for steeper cutbacks. Oil Minister Thamir Ghadhban said the group should ...

Emirates Business The 26th edition of the World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and finance leaders in the world, kicked off at The Gulf Hotel Bahrain, in the Kingdom of Bahrain on Wednesday. The forum is spurring a series of discussions focusing on “mega trends in banking and finance”, a theme that ...

Bloomberg Egypt on Wednesday launched a $6.2 billion initiative to support local industry, as the nation looks to boost private sector growth in the next phase of its economic revival program. Under the new plan, factories with sales of under 1 billion pounds would be able to secure loans at a reduced interest rate of 10%, central bank Governor Tarek ...

Abu Dhabi / WAM Waha Capital recorded a net gain of AED40 million through the divestment of its remaining stake in New York-listed AerCap Holdings NV, according to a press statement issued by the company on Wednesday. Waha Capital, which has been a shareholder in AerCap since 2010, has been reducing its stake gradually in recent years to re-allocate capital ...

Dubai / WAM Nasdaq Dubai on Wednesday welcomed the listing of a one billion euro green sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member nations. It is IsDB’s first green sukuk, issued under its Sustainable Finance Framework. It is also third Sukuk listing this year on the region’s international exchange by IsDB, ...

Dubai / WAM The Etihad Credit Insurance (ECI), has been assigned Insurance Financial Strength, IFS, Rating and an Issuer Default Rating (IDR), of AA- (Very Strong) with Stable Outlook from Fitch Ratings. The rating reflects ECI’s systemic importance to the UAE given its important role in the diversification of the country’s economy, and confirms ECI’s strong financial position and capability ...

Abu Dhabi / WAM Inspired by Emirati culture and local heritage, the 13th edition of Al Dhafra Festival 2019 will kick off on December 9 under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The festival features an impressive line-up of events including, ...