Bloomberg The financial crisis at South African Airways (SAA) deepened on Tuesday with one of the nation’s largest travel agencies announcing that the airline had cancelled several domestic and international flights. “We are in the process of contacting our customers to advise and assist,” Flight Centre Travel Group said on Twitter. It didn’t provide further details. As many as 19 ...

Bloomberg EasyJet Plc, Britain’s largest low-cost airline, said its loss over the winter low season is set to shrink as the collapse of tour operator Thomas Cook Group Plc pushes more customers its way. The stock rose the most on the FTSE-100 Index on Tuesday after EasyJet said the shortfall for the six months through March is likely to be ...

Bloomberg The travel industry is stepping up precautionary measures against the virus originating from central China that’s killed four people and infected hundreds, with at least one airline starting to equip planes with hazardous-materials suits for cabin crew. In China, President Xi Jinping ordered resolute efforts to curb the spread of the illness since the disease was first detected in ...

Bloomberg Walmart Inc’s new US chief wasted no time putting his stamp on the unit, appointing his former top lieutenant as second in command and parting ways with the retailer’s head of merchandising. Dacona Smith, a company veteran who most recently served as chief operating officer for Walmart’s Sam’s Club, will become COO under John Furner, according to a memo. ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), signed on Monday, a strategic framework agreement with Italy’s energy company (Eni), to explore new opportunities for collaboration in carbon capture utilisation and storage (CCUS), and additional strategic opportunities in research and development across the oil and gas value chain. The agreement brings together two leading energy producers and ...

ABU DHABI / WAM The UAE strongly condemned the Houthi missile attack against a mosque in Yemen’s Marib province, which resulted in numerous deaths and injuries. The Ministry of Foreign Affairs and International Cooperation affirmed UAE’s utter condemnation of criminal act and its firm rejection of all forms of violence and terrorism aimed at undermining security and stability in contravention ...

ABU DHABI / WAM Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD), said that the Fund is keen to expand its development activities in developing countries, especially across the African continent that holds significant potential for growth. Welcoming a visiting high-level delegation from Ethiopia, led by Muferiat Kamil, Ethiopia’s Minister of Peace, at the Fund’s headquarters ...

ABU DHABI / WAM Hub71, Abu Dhabi’s tech ecosystem on Monday launched the region’s first ‘Microsoft Reactor Programme’ as it further expanded its ecosystem to 35 innovative startups with the announcement of 17 winners of the Hub71 Incentive Package. As part of its strategic partnership with Microsoft, Hub71’s Microsoft Reactor programme will be a centre for technical learning and knowledge-sharing ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE), announced on Monday that it has signed a $300 million four-year unsecured term loan with China Construction Bank DIFC Branch, and China Construction Bank (Asia) Corporation Limited. The principal amount of the loan can be increased to $500 million. The loan will support the future financing needs of the business. Commenting on the ...

Abu Dhabi / WAM The UAE’s two main bourses maintained their significant gains for the second straight day, with the market cap of the trading companies hitting AED6.4 billion during the two sessions of Monday and Sunday. Driven by the banking heavyweights, Abu Dhabi Securities Exchange General Index spiked to 5,213 points, an increase of 0.76% compared to the previous ...