Bloomberg Airbus SE is preparing for another round of management shakeup, according to people familiar with the matter, after overhauling most of its senior executive lineup. The European planemaker is considering changes in key sales positions that report to new commercial chief Christian Scherer — including several occupied by veterans who worked under longtime sales chief John Leahy, said the ...

Bloomberg Ryanair Holdings Plc is putting plans for future share buybacks on hold due to uncertainty surrounding the UK’s proposed exit from the European Union. Europe’s biggest discount carrier completed a 750 million-euro ($863 million) program this month, but doubts over how a so-called Brexit will play out have forced to hold back on further announcements. “It makes very little ...

Bloomberg Korean Air Lines Co. is considering a “large order” for widebody aircraft as part of a fleet expansion and to replace aging jets with fuel-efficient ones amid rising oil prices. The Seoul-based airline is evaluating twin-aisle airplanes from Airbus SE and Boeing Co., including the A350 and the 777X, President Walter Cho said in a media briefing at an ...

Bloomberg Stores are so 20th century. At least that’s what many online brands believed. Companies like Warby Parker, Bonobos and Casper didn’t need physical locations to win over millennials and steal market share; a well-designed website was more than enough. And who could fault their logic? Given the brick-and-mortar carnage across America, the evidence seemed overwhelming. Then a funny thing ...

ABU DHABI / WAM The Gross Domestic Product of the Emirate of Abu Dhabi surged 12 percent to as much as AED456 billion in current prices from AED407 billion in 2017, according to official figures released recently by the Abu Dhabi Statistics Centre — Abu Dhabi (SCAD). The growth reflects the economic recovery witnessed by the domestic economy on the ...

DUBAI / Emirates Business Mashreq, one of the leading financial institutions in the UAE, reported its financial results for the first nine months ending September 30, 2018. The net profit of the lender for the first nine months stood at AED1.7 billion, a 5% increase YoY, while its operating income rose by 3.6% and reached AED4.6 billion. Mashreq’s best- in-class ...

ABU DHABI / WAM The hotel guest night revenues across the Emirate of Abu Dhabi increased 22 percent during July 2018 as compared to June of the same year, according to the Statistics Centre — Abu Dhabi (SCAD) SCAD estimated the YoY growth at 4.5 percent and attributed it to the robust tourist infrastructure boa-sted by Abu Dhabi in terms ...

DUBAI / WAM Essa Kazim, Governor of Dubai International Financial Centre (DIFC), has received Cao Gua-ngjing, Vice-Governor of the People’s Government of the Hubei Province in China. During the visit, the parties discussed collaboration opportunities as part of China’s Belt and Road Initiative. In addition, new areas of growth that would be of interest and benefit to Chinese institutions based ...

SHARJAH / WAM The Sharjah FDI Office, known as Invest in Sharjah, has inked a Memorandum of Understanding (MoU) with the Italian Trade Commission (ITC) to expand bilateral investment prospects between Sharjah and Italy. Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, and Stefano Nigro, Director of the Foreign Investment Department at the ITC, signed the MoU. The new ...

Dubai / WAM The Dubai Department of Economic Development (DED) signed a partnership agreement with BooleanLAb, to establish an advanced market monitoring and inspection system for the emirate. The partnership aims to enhance efficiency of market supervision and inspection in Dubai by 25 percent, thus reinforcing the emirate’s business competitiveness. The agreement was signed by Mohammed Ali Rashid Lootah, CEO ...