News

RITIKA SHARMA / Emirates Business Cross-border partnerships, workforce localisation, inclusion of women in aerospace and future of unmanned aircraft systems — are a few topics to be discussed at the Global Aerospace Summit, which are bound to make it a unique experience. The much-awaited biennial aviation event to be held at ADNEC in Abu Dhabi is expected to put an ...

Moscow / AFP Russia’s flagship carrier Aeroflot said it had reduced its loses in 2015, as the country’s airlines continue to grapple with the fallout of Russia’s economic crisis. The majority state-controlled company registered a net loss of 6.5 billion rubles ($88 million, 80 million euros) down from some 17 billion rubles in 2014 and ahead of analyst predictions. “The ...

ANKARA / Bloomberg Profit at Turkey’s national airline surged last year as lower fuel costs compensated for geopolitical risks and security concerns. Turkish Airlines’ net income rose to a record $1.1 billion last year from $832 million in 2014, the company said in a statement to the Borsa Istanbul late on Monday. That beat expectations of all 22 analysts in ...

BEIJING / Bloomberg Airbus Group SE drew a line on how far it’s prepared to extend jetliner production into China, saying it won’t help competitors develop aircraft, and that the country’s wide-body orders don’t justify building its most lucrative models there. No talks have taken place about construction of twin-aisle jets such as the A330 and A350 in China, Fabrice ...

Cape Town / Bloomberg Steinhoff International Holdings NV Group made an unsolicited, 662-million-pound ($924 million) bid for French electronics retailer Darty Plc, seeking to break up Groupe Fnac SA’s agreement to buy the company. The South African retailer proposed to pay 125 pence a share in cash, Darty said in a statement Wednesday. The bid is 8.5 percent above Darty’s ...

Dubai / WAM Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has launched Dubai Wholesale City, the largest global wholesale hub, set to span over 550 million sq. feet, with an expected development cost of AED30 billion over ten years. The new development aims to increase the UAE’s share of the ...

SHARJAH / WAM ADNOC Distribution on Tuesday launched the pilot phase of its smart self-refueling service (ADNOC SMART) in Abu Dhabi, which will run until October 1 and cover four service stations on Abu Dhabi Island. ADNOC SMART also enables registered customers to benefit from a variety of innovative payment methods. The pilot phase of ADNOC SMART was inaugurated at ...

ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy of the UAE, on Tuesday urged OPEC members and non-OPEC producers to hold their production at January levels to stabilise global oil markets. “All producers must willy-nilly freeze their production,” he said, stressing that the current talk about a significant short-term increase in production is neither ...

Abu Dhabi / WAM Abu Dhabi Department of Economic Development (DED) has seized 10,231 counterfeit beauty and skincare products in an inspection campaign launched by its Commercial Protection Directorate (CPD) in Mussaffah, Abu Dhabi. The CPD also issued 12 fines against vehicle owners who transported products without a license in Zayed City Centre in Abu Dhabi and the Industrial Zone ...

Dubai / WAM Ahead of the 10th edition of Art Dubai and the fifth edition of Design Days Dubai this March, the fairs’ parent company, Art Dubai Fair FZ LLC (The Art Dubai Group), has released the results of an independent survey for Art Week 2015 (March 18-25, 2015). The results of the independent study show the significant economic impact ...