News

Dubai / Emirates Business Emirates National Oil Company (ENOC) announced its local and global growth strategy at the Group’s 2016 Annual Performance Meeting. His Excellency Saif Al Falasi, ENOC’s Group Chief Executive Officer, explained that the company’s strong integrated business model will enable it to withstand the challenges associated with the ongoing oil price volatility. Despite the difficult macroeconomic situation, ...

Abu Dhabi / Emirates Business This week, the Emirates Nuclear Energy Corporation (ENEC) hosted the International Atomic Energy Agency (IAEA) Director General Yukiya Amano at the Barakah Nuclear Power Plant site in the Western Region of Abu Dhabi. The visit served as an important opportunity for the Director General to observe the significant progress being made at Barakah, which is ...

Dubai / Emirates Business Gulfood – the world’s largest annual food and hospitality trade show – has broken a Guinness World Record for the globe’s heaviest bag of rice. KRBL Limited, the world’s largest rice millers and Basmati rice exporters, has successfully entered the Guinness record books with a bag of rice from its acclaimed India Gate Classic Basmati Rice ...

Bloomberg Private air travel is getting the Uber treatment with some of the industry’s biggest customers investing $26.1 million in a company that lets users book private jets from a smartphone. Most private aircraft aren’t used that much, JetSmarter founder Sergey Petrossov, a Russia-born Florida resident, said in an interview. They either stand idled at airports or are flying empty ...

Bloomberg Domodedovo International Airport bonds pared the steepest drop on record after chairman and owner Dmitry Kamenshchik was put under house arrest instead of jail and a prosecutor said the charges against the businessman are unlawful. The bonds fell the most on record recently and the yield surged 294 basis points to 9.38 percent, the highest since March, after investigators ...

Reykjavík / Relaxnews Iceland’s flag carrier has launched a new Wi-Fi service that lets passengers stay connected for the duration of its flights, including takeoff and landing. As any regular air traveller knows, electronic devices must currently be switched off during takeoff and landing. Even on board planes already equipped with Wi-Fi, passengers are asked to wait until the plane ...

Washington / Bloomberg Boeing Co. is finally open for business in Iran. The US government cleared the manufacturer to begin talking with approved Iranian carriers about their fleet needs, a first step toward entering the country’s resurgent aircraft market, Boeing said. The planemaker will still need a separate license to complete any commercial jetliner sales. Europe’s Airbus Group SE, which ...

Cape Town / Bloomberg South African furniture retailer JD Group Ltd. plans to close about 260 stores employing thousands of workers as it seeks to stabilize its finances. About 1,800 employees will be affected, according to the company, although a trade union put the figure at 4,110. The closings are key to securing the employment of JD Group’s remaining employees, ...

Pyongyang / Bloomberg Change is in the air in North Korea. After years of being ranked by Skytrax as the world’s worst airline, national carrier Air Koryo is undergoing a revolution, according to interviews with passengers and travel agents. New planes, new in-flight entertainment options, smart new uniforms for the cabin attendants, even business class. It’s all part of supreme ...

ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, on Monday received the visiting International Monetary Fund Director General, Christine Lagarde, at the ministry. During their meeting, they discussed cooperation between the UAE and IMF, latest economic developments, as well as other issues of mutual interests. Sheikh Abdullah welcomed Lagarde, noting ...