Bloomberg Bombardier Inc.’s drive to bolster its cash reserves is getting a lift from the booming real-estate market in Canada’s biggest city. The maker of planes and trains agreed to sell its Downsview factory in Toronto to Canada’s Public Sector Pension Investment Board for about $635 million. The transaction is expected to close in the second quarter, increasing cash by ...

Bloomberg The White House released a blistering statement attacking China’s government for a recent demand that US and other airlines change the way they refer to Taiwan, Hong Kong and Macau in promotional materials. “This is Orwellian nonsense and part of a growing trend by the Chinese Communist Party to impose its political views on American citizens and private companies,’’ ...

Bloomberg American Airlines Group Inc. is cutting ties with two regional affiliates as it seeks to simplify its short-distance operations. The world’s largest carrier won’t renew contracts with ExpressJet and Trans States when they expire in 2019, according to a memo to reservations agents. Their flights will be shifted to other airlines and shouldn’t affect customers, the memo said. The ...

Bloomberg Estee Lauder Cos. Chief Executive Officer Fabrizio Freda apologized for false ad claims on certain cosmetics and said a comprehensive review is under way. “We recently learned that some testing related to certain products advertising claims had been intentionally altered for some time by a small group of employees,” Freda said on a conference call with analysts. “This clearly ...

MUKALLA / WAM A UAE ship carrying medical supplies arrived in the Port of Mukalla, as part of the country’s efforts to support the health sector in the Yemeni Governorate of Shabwa. Ahmed Al Neyadi, Head of the Emirates Red Crescent Team in Hadramaut, said in a statement that the latest effort is part of a series of humanitarian operations ...

DUBAI / Emirates Business Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has signed a memorandum of understanding (MoU) with professional services company Accenture to foster innovation in the financial services industry globally. Under the MoU, FinTech Hive at DIFC — the first financial technology accelerator in the ...

MEXICO CITY / WAM Ahmed Hatem Al Minhali, UAE Ambassador to Mexico, met on Saturday with Rogelio Garza Garza, Undersecretary of Industry & Commerce, at the Mexican Ministry of Economy. The meeting discussed bilateral relations and ways to enhance cooperation, particularly in economic fields. Also discussed isMexico’s participation in Expo 2020 Dubai.

TALLINN / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, met Juri Ratas, Prime Minister of Estonia, on Saturday and discussed ways to enhance bilateral cooperation. He also met Kadri Simson, Estonian Minister of Economic Affairs and Infrastructure. Al Mansouri is currently heading a high-level UAE business delegation on a visit to Estonia. During his meeting with the Estonian ...

AJMAN / WAM The Department of Economic Development — Ajman (DED-Ajman) signed a Memorandum of Understanding (MoU) with 2GIS, a technology solutions company, as part of its efforts to achieve integration between public and private sectors. The move is aimed at enhancing Ajman’s position on the world economic map through facilitating procedures and services for investors and providing them with ...

Abu Dhabi / Emirates Business The Khalifa Fund for Enterprise Development (KFED) has joined a workshop on the implementation of Abu Dhabi National Oil Company’s (Adnoc) new in-country value (ICV) strategy that was launched to help stimulate socio-economic value, promote locally-made content and products, and nurture government and private partnerships in the UAE. The participation was in keeping with Fund’s ...