Bloomberg TOA Group, controlled by Thailand’s Tangkaravakoon family, is considering an initial public offering of its paints and chemicals business, people with knowledge of the matter said. The company, which is Thailand’s number one paint producer, is working with banks on a possible share sale that could raise at least $400 million, one of the people said. A listing ...

  Bloomberg Sales of new private aircraft fell 16 percent in the first quarter from a year ago as demand weakened for the largest planes. Jet airplane billings were about $3.53 billion in the first quarter, down from $4.2 billion a year earlier, according to the General Aviation Manufacturers Association. That was the biggest decline in almost five years. Demand ...

  Bloomberg Burberry needs a style update. The luxury goods group is looking to appoint a senior manager to support chief executive Christopher Bailey, who is also its creative director, according to the Financial Times. This is not what Burberry needs. Bailey was already the brand’s top designer when he assumed the CEO role in May 2014, after his predecessor, ...

  Minden / AFP Airbus completed a test flight of a glider set to eventually travel to the edge of space, in a pioneering step into the stratosphere. The Perlan 2’s flight, from an airstrip in the western US state of Nevada, took place two hours after the planned start time due to heavy rain. It lasted just a few minutes ...

  Venetia Mine, South Africa / AFP Proof that diamonds are getting harder to find can be seen in the South African bush, where one of the world’s largest mining companies is spending $2 billion tunnelling beneath a vast open-pit mine. De Beers spent 25 years digging a 450-metre (1,500-foot) deep by one-kilometre wide hole to access diamond-rich rock from the ...

  Washington / AFP The smartphone revolutionised how people live and work, but the technology world is now struggling to see what comes next. As smartphone sales have peaked in most major markets, Apple, Samsung and others are being forced to rethink their business models to keep growing and connecting with consumers. The trend in smartphones appears to follow similar peaks ...

  ABU DHABI / WAM The Abu Dhabi General Services Company (Musanada), in collaboration with the Department of Municipal Affairs and Transport (DMAT), revealed that it has completed 59% of the Mafraq-Ghuwaifat International Highway project, linking western region cities and facilitating commercial transport on the international road. The move is part of the efforts to implement the vision of President ...

  LONDON / Bloomberg Sadiq Khan of Britain’s main opposition Labour Party took over as London’s first Muslim mayor on Saturday, facing down critics who used his religion against him by vowing to “represent every single community” in the capital. Khan’s election is a challenge to the rise of anti-Muslim rhetoric by right-wing politicians including French National Front leader Marine ...

  DUBAI / WAM Mohammed Bin Rashid Centre for Government Innovation(MBRCGI) signed a cooperation agreement with Massachusetts Institute of Technology (MIT) in Boston, USA, to launch a series of knowledge workshops to spread the culture of innovation among employees in the UAE government, and enhance their knowledge in line with the latest global innovation trends. The agreement was signed by ...

  MAPUTO / WAM Businesses from the UAE have expressed their willingness to strengthen business relations with Mozambique and to invest in agriculture and transport, the Mozambique news agency(AIM)has reported. Speaking to reporters in the Mozambican capital, Maputo, after a meeting with Prime Minister Carlos Agostinho do Rosario, the Chairman of the Dubai Chamber of Commerce and Industry, Majid Saif ...