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London / Bloomberg China’s HNA Group and a consortium led by Ontario Teachers’ Pension Plan Board and Borealis Infrastructure are in the lead to buy London City Airport from its US owners, people familiar with the matter said. The central London airport, owned by Global Infrastructure Partners, could fetch more than 2 billion pounds ($2.8 billion), the people said, asking ...

Bloomberg Airbus Group SE announced plans to lift output of the aging A330 jet and predicted higher annual deliveries, indicating its confidence weeks after US rival Boeing Co. shocked investors by flagging a drop in output. The European planemaker said it will restore A330 production to seven a month in 2017, suggesting it has come to terms with a demand ...

Bloomberg Target’s heavy discounting during the crucial holiday season squeezed fourth-quarter profits. But its trendy assortments and spiffed up presentations induced shoppers to spend more. The company, based in Minneapolis, also offered an upbeat outlook, sending shares more than 3 percent higher. The results show Target has made solid progress in reinvigorating its business and winning back shoppers. It initiated ...

Beijing / Bloomberg Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. is planning to invest billions of euros in a retail and leisure development outside of Paris, according to two people familiar with the matter. An announcement may come as soon as on Friday, according to the people, who asked not to be identified because the project is confidential. Wang ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, who is also the Chairman of the Abu Dhabi Executive Council, has stressed that upon the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the UAE entered into a new phase of ...

RAS AL KHAIMAH / WAM RAK Properties reported during its board of directors meeting an impressive 23.5 per cent growth in revenues in 2015. A proposal of dividends distribution of 5% cash for the year 2015 was also recommended by the board and will be presented on the company’s annual general meeting due to be held on March 12th 2016. ...

DUBAI / WAM HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, and Christine Lagarde, Managing Director of the International Monetary Fund (IMF), discussed on Wednesday a variety of regional and global economic and financial developments and ways to stimulate growth in developing countries. Sheikh Hamdan and the IMF chief also explored best ...

Dubai / WAM The Zayed Housing Programme (ZHP) has approved the names of 614 UAE nationals entitled for housing loans and grants worth AED309 million. Of these beneficiaries, 531 will receive loans, while 83 others will receive housing grants. This came during the Board of Directors’ second meeting in 2016 chaired by Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister ...

Making a secure payment at a suburban fuel station through your wrist watch by just moving your arm before a machine. With Internet of Things (IoT) technology becoming pervasive, this could be a part of your routine exercise. As the number of IoT-enabled devices is expected to reach a whopping 50 billion by 2020, there is a need to attach ...

Ritika Sharma Emirates Business Abdulkareem M Al Masabi, Vice President – Ports Operations, Abu Dhabi, said that looking at the year-on-year double digit growth in all cargo sectors that Abu Dhabi Ports witnessed in 2015, the company is confident about its growth prospects in 2016, despite new challenges in global economy. “Delma Port’s infrastructure is being upgraded to include a ...