Bloomberg Boeing Co will resume production of the 737 Max before the best-selling plane is allowed back in the air as the company attempts to recover from one of the worst crises in its 104-year history. The Chicago-based manufacturer halted production in January, 10 months after the jet was grounded worldwide following two crashes that killed 346 people. Boeing failed ...

Bloomberg The government of Sri Lanka is considering ways of recovering damages, including claiming compensation from Airbus SE, after the European planemaker admitted to bribing executives to win aircraft orders. “The reputational damage was huge, enormous,” Vipula Gunatilleka, chief executive officer of state-run SriLankan Airlines Ltd, said in an interview at the Singapore Airshow on Wednesday. “That’s why our government ...

Bloomberg Forever 21 Inc is moving out of its parents’ house. US Bankruptcy Judge Kevin Gross said in a hearing that he would approve the sale of the retailer to its two largest landlords — Simon Property Group Inc and Brookfield Property Partners LP — and Authentic Brands Group LLC, marking the end of control by the Chang family. Forever ...

Bloomberg For the past few months, Under Armour Inc executives have promised that 2020 would be the coming-out party of a brand-new company, a shift from defense to offense after a multiyear restructuring and a change in leadership. After revealing fourth-quarter results and 2020 projections that trailed analysts’ expectations, the company issued a sobering set of expectations for investors. Revenue ...

Bloomberg Bed Bath & Beyond Inc fell sharply after reporting that a key measure of sales contracted in December and January, the latest sign the home-furnishings retailer faces a tough road back to growth. “We are experiencing short-term pain in our efforts to stabilise the business, including the pressures of store traffic trends,” Chief Executive Officer Mark Tritton said in ...

ABU DHABI / WAM Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, has stressed that the UAE was among the first countries that stocked up sufficient quantities of materials required for state-of-the-art checkups to detect the new coronavirus. More than 500 staff members work round the clock on communication, medical investigations and logistical support related ...

DUBAI / WAM Dubai Investments Park (DIP), unveiled that the master-planned complex, designed and developed to provide immaculate facilities, setting new standards in the region, attracted investments in excess of AED42 billion over two decades, signifying the emergence of DIP as a successful business model, facilitating a conducive environment. Considered one among the largest integrated developments in the Middle East, ...

LONDON / WAM The 19th UAE-UK Taskforce meeting took place on Tuesday in London, co-hosted by Dr. Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, and Dr Andrew Murrison, UK Minister of State for the Middle East and North Africa. The high-level UAE delegation, which included officials from the Ministries of Foreign Affairs and International Cooperation, Justice, Defence, ...

ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD), on Tuesday signed a Memorandum of Understanding (MoU) with the United States International Development Finance Corporation (DFC), an independent agency of the US Government. The areas of collaboration outlined by the MoU include the exchange of knowledge and expertise between the two parties especially in the field of financing private ...

ABU DHABI / WAM Importing any type of waterpipe tobacco or electrically heated cigarette plugs that are not marked with ‘Digital Tax Stamps’ will be prohibited across UAE as of March 1, asserted Federal Tax Authority (FTA). The ban is in keeping with the timeline set for launching phase two of ‘Marking Tobacco and Tobacco Products Scheme’, the FTA explained, ...