Abu Dhabi / WAM In celebration of 51 years of relations based on mutual respect and benefit with African countries, the UAE gifted 51 Ghaf trees to African partners as a gesture of cooperation and keenness to strengthen ties. Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, remarked, “The late Sheikh Zayed bin Sultan Al Nahyan believed that ...

Bloomberg Packaged-goods giants like Nestle SA and Unilever Plc have poured billions into acquisitions of vitamin brands in recent years, seeking growth beyond traditional businesses like stock cubes, ice cream and soap. The bet appeared to pay off when Covid hit, turbocharging demand for supplements as worried consumers sought to boost their defenses against a new and mysterious virus. Over ...

Bloomberg Most creditors of Hong Kong Airlines Ltd voted to support the carrier’s proposed HK$49 billion ($6.3 billion) debt restructuring, a step to stave off insolvency after travel to and from the city dried up the past three years. Of those voting among three classes of creditors, holders of at least 80% of the debt in each class backed the ...

Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary struck a cautious note on bookings in the first quarter, when factors like inflation, economic contraction and higher energy prices may prompt travellers to curtail spending following strong Christmas demand. “We expect it to be a little bit softer in the first quarter of next year, but then we think next ...

  Bloomberg United Airlines Holdings Inc is in late-stage talks with Boeing Co and Airbus SE as the carrier mulls narrow- and widebody models for potential blockbuster orders to bolster its fleet. The Chicago-based airline is looking at taking more than 100 Boeing 787 Dreamliners as part of a “triple-digit” twin-aisle order that CEO Scott Kirby has touted to pilots, ...

  Bloomberg Dollar General fell after cutting its profit outlook on higher supply-chain costs and a shift in customer demand to less-profitable consumable products. Adjusted earnings will increase by no more than 8% in the current fiscal year, down from a prior forecast for growth of as much as 14%, Dollar General said. The new guidance trails Wall Street’s estimates ...

  Bloomberg With its gleaming offices, electric buses and economically productive residents, Nusantara is the quintessential modern metropolis—smack in the middle of a vast rainforest. At least, that’s what the government brochures depict. What they don’t show quite so clearly is where Indonesia will find $34 billion to build a new capital city from scratch. With just 18 months left ...

  Bloomberg Philippine President Ferdinand Marcos Jr’s economic team lowered its 2023 growth forecast as the global outlook worsens and domestic inflation hovers near a 14-year high. Gross domestic product will probably expand 6%-7% next year from a previous projection of 6.5%-8%, the Development Budget Coordination Committee (DBCC), which sets economic assumptions for fiscal purposes, said. It left this year’s ...

  Bloomberg Dollar bonds of China’s largest developer have returned an eye-watering 404% the past month, highlighting the reversal of fortunes in the country’s property sector as policy shifts have brightened investor sentiment. Country Garden Holdings Co notes started slumping in mid-September, just as another round of worry about real estate firms’ liquidity took hold. A dollar bond maturing in ...

Bloomberg Tesla Inc plans to lower production at its Shanghai factory, according to people familiar with the matter, in the latest sign demand in China isn’t living up to expectations. The output cuts will take effect as soon as this week, said the people, who asked not to be identified because the information isn’t public. They estimate the move could ...