Reuters Department store operator Hudson’s Bay Co reported a smaller-than-expected quarterly profit as expenses soared and sales at established Saks Fifth Avenue stores dropped. The company’s cost of sales rose 74 percent in the fourth quarter ended January 30, while its selling, general and administrative expenses almost doubled. Saks Fifth Avenue, the company’s luxury chain, reported a 1.2 percent drop ...

Bloomberg Jambojet, the low-cost carrier owned by Kenya Airways Ltd., plans to add seven routes in east Africa in the next five years to expand in the region. The airline, which says it controls 37 percent of Kenya’s domestic aviation market, is considering starting its first international route this month, Chief Executive Officer Willem Hondius said in an interview in ...

Bloomberg Saudi Arabia’s aviation regulator has suspended licences granted to Mahan Air, Iran’s largest privately-owned airline, to fly through its air space or land in its airports due to alleged violations of local safety rules. In a statement, the General Authority of Civil Aviation (Gaca) said it had monitored several violations committed by Mahan Air against the national regulations and ...

Bloomberg From an initial overture five months ago through a two-day bidding war last week, Alaska Air Group Inc. was determined to acquire Virgin America Inc. as a means toward national expansion – and protection from larger rivals. The combination boosts Alaska’s West Coast might with greater access to California, while providing more service to flight-constrained East Coast cities such ...

Los Angeles / AFP A Technicolor scientist surrounded by the latest virtual reality technology inspects a vial containing a few droplets of water — and one million copies of an old movie encoded into DNA. The company has come a long way since the Hollywood golden age, when the world gazed in awe at the lush palette of “The Wizard ...

Almaty, Kazakhstan / AFP The season may be drawing to a close at Central Asian Kazakhstan’s Chimbulak winter sports resort, but skiiers and snowboarders are still carving their way down a broad piste framed by the snow-speckled spruces of the Tien-Shan mountains. After a dip in interest that accompanied the collapse of the Soviet Union, the landlocked region is witnessing ...

Our Correspondent / EMIRATES BUSINESS With a fast-growing, global collection of more than 455 upscale hotels in gateway cities, metropolitan areas and vacation destinations across six continents and nearly 40,000 rooms in the pipeline, every little thing at DoubleTree by Hilton inspires to create a rewarding experience for the hotel guests. Located on the popular The Walk promenade in Dubai, ...

Sunaina Rana/ Emirates Business With a record number of CEOs and VPs from across the Arabian Gulf region in attendance, the recently-concluded Top CEO Conference brought many global issues into a regional context in Dubai. The aim behind this innovative conference was to help the executives and leaders to look at the possible impact of these burning issues, which are ...

Brussels / AFP An enormous and complex logistical operation involving thousands of EU and other officials was launched on Monday to ship migrants from Greece back to Turkey under a controversial accord between Brussels and Ankara. The European Commission estimates it will cost 280 million euros ($320 million) to implement the deal over the next six months. The EU will ...

RITIKA SHARMA / EMIRATES BUSINESS Abu Dhabi-based International Renewable Energy Agency (IRENA) marked half a decade of efforts towards a sustainable and green planet on Monday. Turning five, the global body looks forward to expanding its role as the universal voice of renewables. Adnan Z Amin, IRENA Director-General, said, “The past five years have witnessed a dramatic shift in the ...