Bloomberg Lebanon’s Middle East Airlines scrapped a decision to reject payments in the local currency, hours after the nation’s president warned against the move and questioned its legality. As backlash mounted, the airline 99% owned by the central bank, reversed the announcement to accept payments only in foreign currency, according to its spokeswoman. The company will hold meetings to discuss ...

Bloomberg Mitchell Modell, chairman and chief executive officer of Modell’s Sporting Goods, has a framed letter from his grandfather, Henry Modell, hanging on the wall of his New York City office. He said he likes to look it over, to remind him what’s at stake as he struggles to keep the 131-year-old family business afloat. “Keep and cherish the good ...

ABU DHABI / WAM Etihad Airways, the national airline of the United Arab Emirates, hosted an event for frequent flyers and key trade, government and media partners as part of its ongoing activities to celebrate 15-years of flying to India. The airline began operations in India in September 2004 and it has grown to become its second largest market after ...

DUBAI / Emirates Business Saudi German Hospital Group UAE (SGH) is first hospital in UAE and Middle East to award its patients for their talent at SGH Talent. In the grand finale Vaidehi Rastogi and Aashi Chadurvedi both became winners, Lola Martines and Samar Kandil awarded first and second runner up respectively. This is the initiative of SGH UAE providing ...

Abu Dhabi/ WAM The Abu Dhabi Power Corporation (ADPower), and Japan-based Marubeni Corporation, on Sunday announced the formation of a consortium to develop the Fujairah F3 independent power producer (IPP) project, which will be the largest independent thermal power plant to be operated in the UAE. To mark the occasion, a ceremony was held at the headquarters of the Emirates Water ...

DUBAI / WAM As the UK reshapes its future trade policy during the post-Brexit transition period, the UAE – UK’s largest export market in the Middle East and the 13th biggest globally – has become one of its first trade allies to reaffirm its commitment in trade relations. This commitment was signified by a meeting between Etihad Credit Insurance (ECI), ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended the opening session of Global Women’s Forum Dubai (GWFD 2020), which kicked-off on Sunday in the emirate. He was accompanied at the event by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of ...

DUBAI / WAM HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, on Sunday opened 25th edition of Gulfood 2020, the annual food and beverage (F&B), trade show at Dubai World Trade Centre (DWTC). An open invitation for F&B producers to demonstrate how they are ‘Rethinking Food’ to serve a global population that ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB), issued bonds worth over AED3 billion via two separate public issuances in three days, marking its first ever Sterling bond and first Kangaroo bond since 2014. FAB issued its inaugural three-year AED2.15 billion fixed rate bond, under its $15 billion Euro Medium Term Note (EMTN), Programme. According to a statement released ...

DUBAI / WAM The UAE has strengthened its regional and international leadership in women’s empowerment, and is harnessing their potential to serve this purpose, as well as drafting frameworks and mechanisms to ensure gender balance, said Mohammed Jalal Al Raisi, Executive Director of the Emirates News Agency (WAM). “The UAE’s related efforts has made women’s empowerment a reality and has ...