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The operator of McDonald’s restaurants in China has raised about $2 billion in bank loans to free up liquidity that will help operate the business, according to people familiar with the matter, as the country maintains its zero-tolerance approach to fighting Covid-19. Chinese state-backed Citic Ltd., Citic Capital and US private equity firm Carlyle Group Inc. acquired control of the ...

Boeing Co. only delivered 27 of its cash-cow 737 jetliners last month as its quality inspectors found and fixed a flaw in some of the narrowbody jet’s frames, Stan Deal, the planemaker’s commercial chief, told investors. That’s a dip from the 37 narrowbodies that Boeing handed over in September. While the planemaker isn’t expected to reveal its full monthly deliveries ...

Kenya Airways Plc canceled about 75% of scheduled flights Monday as a pilots strike enters its third day, disrupting travel plans for thousands of passengers and hurting intra-Africa trade. The carrier scrapped 52 flights, according to a statement. The company has had to accommodate 500 passengers in hotels in Nairobi, Chief Executive Officer Allan Kilavuka said. A prolonged strike may ...

Ryanair Holdings Plc lifted its full-year passenger goal and played down the likely impact of a recession on demand, saying bookings are looking strong as far ahead as next summer. Europe’s biggest discount airline expects to fly 168 million people in the year through March, up from 166.5 million previously, according to a statement on Monday. It said earnings should ...

Traders took China’s reiteration of the Covid Zero strategy in their stride, focusing instead on an eventual reopening and continuing to scoop up the nation’s battered shares. That meant another day of gains for equity indexes in Hong Kong and China as they try to stage a sustainable rebound after months of heavy losses. Tech and property shares — ones ...

Chinese markets are facing another volatile week after health officials vowed to “unswervingly” stick to the country’s Covid Zero approach, damping investor optimism that Beijing was working towards easing restrictions. Assets from equities to oil rallied last week on convictions that China is taking concrete steps toward reopening. The Hang Seng China Enterprises Index had its best weekly gain since ...

Apple Inc.’s Taiwanese contract manufacturer Pegatron Corp. has begun assembling the company’s latest iPhone 14 model in India. That move makes Pegatron the second Apple supplier to produce the iPhone 14 in the country. It comes at a time when Apple’s key iPhone Pro manufacturing hub in the Chinese city of Zhengzhou — operated by Foxconn Technology Group — was ...

Dubai / WAM     HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of DIFC, on Sunday announced the launch of the Dubai FinTech Summit, a global event that will bring together more than 5,000 experts, thought leaders, policymakers and decision-makers in Dubai to discuss how they can shape ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, received Dr Fuad Hussein, Minister of Foreign Affairs of the Republic of Iraq. During the meeting, which was held in Abu Dhabi, the two sides reviewed the UAE-Iraq ties and ways to enhance cooperation across all domains. They also discussed a ...

Abu Dhabi / WAM During the UAE government media briefing on the Covid-19 pandemic, Dr. Saif Al Dhaheri, Official Spokesperson of the National Emergency Crisis and Disasters Management Authority (NCEMA), has announced that all restrictions and precautionary measures related to Covid-19 will be cancelled, as part of the country’s second phase of easing restrictions, effective at 06:00 AM on Monday, ...