Bloomberg Rakesh Gangwal, the billionaire co-founder of Indian budget airline IndiGo, will support company proposals at a shareholder meeting next week to expand its board after an agreement on policy changes, months after he accused his fellow co-founder of corporate-governance lapses. The board of IndiGo, Asia’s biggest budget airline by market value, has approved a new related-party transaction policy, Gangwal ...

Bloomberg Kohl’s Corp rose in early trading after CEO Michelle Gass said comparable sales gained ground in the latter part of the second quarter and that store traffic is on the rise, thanks to its partnership with Amazon.com. While same-store sales fell 2.9 percent for the full quarter, missing analysts’ projections, according to Consensus Metrix, Kohl’s posted profit of $1.55 ...

Bloomberg Jumia Technologies has identified improper transactions at the Africa-focused online retailer’s Nigeria business that amounted to as much as 4 percent of first-quarter sales. While the Berlin-based company says it’s taking measures to cut out instances of wrongdong, the findings backed up warnings made by short-sellers Citron in a report three months ago, which brought an abrupt end to ...

Bloomberg Qantas Airways Ltd will run marathon ghost flights from New York and London to Sydney carrying just a few staff to see how the human body holds up before commercial services start. Qantas said it will simulate the world’s longest direct flights with Boeing Co Dreamliners as soon as October. The payload of 40 passengers and crew, most of ...

Bloomberg Cathay Pacific Airways Ltd, trying to contain the damage it has suffered from staff taking part in Hong Kong’s anti-Beijing protests, cautioned employees that misuse of social-media platforms could be a breach of rules set by China’s authorities. In a message to employees, Cathay said that posting, responding and sharing content on social media could go against the demands ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement. The combined scope of the three contracts awarded is one of the world’s largest in this category, maximising value for Adnoc across its drilling ...

GENEVA / WAM The United Arab Emirates is participating in dispute adjudication proceedings through the World Trade Organisation Dispute (WTO) Settlement Body during meetings being convened from August 21 to 23, in the presence of various states interested in the matter. The UAE affirms that the action and measures in question were intended to safeguard national security as a result ...

DUBAI / WAM Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (Dewa) received Li Xuhang, Consul-General of the People’s Republic of China in Dubai. Al Tayer congratulated Chinese Consul on the new post, wishing him success in his upcoming diplomatic missions. He emphasised the depth of UAE-China relations, as UAE is the second largest ...

Bloomberg Poor water quality saps one-third of potential economic growth in the most heavily polluted areas, according to a new global analysis by the World Bank that underscores how crucial clean water is to productivity. “Deteriorating water quality is stalling economic growth, worsening health conditions, reducing food production, and exacerbating poverty in many countries,” World Bank Group President David Malpass ...

Dubai / WAM Travel from the UAE to the island of Ireland has seen strong growth from January 01 until June 30, 2019, based on travel statistics released by dnata Travel, the UAE’s longest-standing travel agency, which is celebrating its 60th anniversary this year. Compared to the same period (H1) in 2018, UAE locals and residents have been visiting Ireland ...