Bloomberg Kenya Airways Plc revived long-shelved plans to expand its network by proposing to buy as many as 10 Boeing Co. 737 Max aircraft as part of a five-year strategy. The move follows three consecutive years of losses caused by a poorly executed expansion strategy and fuel-hedging contracts that saw it miss out on rock-bottom oil prices. The losses forced ...

Bloomberg Ethiopian Airlines Enterprise will reintroduce flights to Eritrea by mid-September, two decades after a border conflict upended relations between the Horn of Africa neighbours. “Ethiopian Airlines get ready because soon you’ll start going to Eritrea and coming back,” PM Abiy Ahmed said in Addis Ababa. “Let us not transfer to our children hatred and the holding of grudges.” Ethiopian ...

Bloomberg Fuel prices are up, the US dollar is rallying and that means stormy skies for Brazilian airlines. Gol Linhas Aereas Inteligentes SA is leading Brazil’s Ibovespa index losses month-to-date, with a 21 percent drop so far. The company is also heading for its biggest quarterly drop since its initial public offering in 2004. Gol and Azul SA are down ...

DUBAI / WAM Dubai Gold and Commodities Exchange (DGCX) recorded its best H1 ever in its 13-year history, trading over 11,300,000 contracts so far in 2018, up 44 percent year-on-year (y-o-y). Traded value for the first six months of 2018 breached $250 billion for the first time too. The exchange’s record-breaking performance was sealed following a robust month of trading ...

ABU DHABI / WAM ADIB Securities, the brokerage subsidiary of Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has laun- ched services for clients to trade equities on US markets, including the New York Stock Exchange and NASDAQ. The new offering will enable customers to buy and sell Sharia’a-compliant stocks through ADIB Securities’ leading digital and traditional trading channels. ...

ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) revealed that it has saved AED1.058 billion as a result of applying sustainability standards to various types of infrastructural projects. The achievement is marked by the implementation of the standards of value engineering and sustainability during the initial designs phases of the municipal projects. The ADM started implementation of sustainability ...

DUBAI/ WAM The DP World is planning to set up a logistics facility in Ethiopia to facilitate transport of goods to landlocked countries in Africa, revealed Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation. “We are planning to set up a logistics complex in Ethiopia where goods can be transported ...

BENGALURU / WAM As part of his official visit to India, His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and his delegation met H. D. Kumaraswamy, Chief Minister of the Indian State of Karnataka, on Saturday. The meeting saw discussions on friendship and cooperation ties in the areas of the economy, commerce, investment, ...

HODEIDAH / WAM The Emirates Red Crescent (ERC), distributed 3,000 food parcels and basic food items to the population in the Moshaj and Al Wa’rah areas, Khokha District in Yemen’s Hodeidah Governorate. They will help 21,000 Yemenis, including 15,000 children and 3,000 women. The assistance is part of the UAE’s support for Yemen and its continuous campaign to provide relief ...

Sharjah / WAM The Executive Committee for Expansion of Healthy Cities in Sharjah wrapped up a two-day workshop it had launched in collaboration with the World Health Organisation (WHO), with the aim of honing the capabilities and skills required by coordinators and working teams to meet the criteria for the expansion of Healthy Cities. The workshop updated information on the ...