Egypt / Emirates Business As part of its route expansion strategy, Air Arabia Egypt launched a new route linking Sohag in Egypt to Kuwait. The new flights operate three times a week, on Tuesdays, Wednesdays and Thursdays, departing from Sohag International Airport (HMB) at 2340 hours and arriving in Kuwait International Airport (KWI) at 0305 hours the following day. The …

LONDON / Reuters Struggling British flooring retailer Carpetright said it would seek creditor approval for a restructuring plan to close 92 stores and reduce rents at 113 of its sites, resulting in about 300 job losses. Shares in Carpetright, which has in recent months issued a series of profit warnings because of weak UK retail spending and what it calls …

NEW DELHI / Reuters Global oil supply remains a concern amid OPEC and Russian-led output reductions, with production falling from mature oilfields while demand growth remains strong, the International Energy Agency’s Executive Director Fatih Birol said on Wednesday. This was despite forecasts of rising oil output from non-OPEC producers, led by the United States, which is expected to be able …

Bloomberg Oil surged to a two-week high in New York as President Donald Trump told Russia in a tweet to “get ready” for US missiles to be fired at Syria. Futures in New York rose as much as 1.3 percent after climbing the most in eight months. President Donald Trump has intensified preparations for a response to a suspected chemical …

Bloomberg The world’s first small-scale nuclear power reactor may be just eight years away. NuScale Power LLC, which is leading global efforts to build a so-called small modular reactor, is seeking as much as $120 million in equity investment to accelerate design of a matching power generator. The company has already spent more than $700 million, and has “hundreds of …

Bloomberg Google, already the world’s biggest corporate buyer of wind and solar power, may soon be making another clean energy bet — this time, on batteries. “We would like to do something in 2018,” Neha Palmer, head of energy strategy at the Alphabet Inc. unit, said in an interview at the Bloomberg New Energy Finance Future of Energy summit in …

Bloomberg US stocks fell and Treasuries rose as global financial markets turned cautious amid rising tension in the Middle East and renewed political discord in America. The dollar stayed lower as a key gauge of inflation accelerated. All major equity indexes were lower after President Donald Trump’s provocative comments about Russia and his warning that America’s preparing to attack Syria. …

Reuters Egyptian real estate stocks surged on Wednesday after two big companies in the sector said they might merge, while Saudi Arabia fell sharply after US President Donald Trump threatened imminent military action in Syria. In Egypt, the stock index gained 1.4 percent as SODIC jumped 5.5 percent to a 10-year closing high and Madinet Nasr for Housing and Development …

NEW YORK / Reuters Quirks in the new US tax code are sowing doubts over how much big banks can boost dividends and stock buybacks this year, threatening to take the shine off what are likely to be strong quarterly profits. Changes in how companies can measure and apply past losses to tax bills, coupled with more extreme scenarios in …

Bloomberg Mario Draghi is finding the euro area’s eastern flank to be an unwelcome distraction. The European Central Bank president is likely to find the Governing Council missing both its Latvian and Slovenian representatives this summer, with the former barred because of a bribery investigation and the latter opting to leave his job. The ECB is questioning Latvia’s restrictions on …