Bloomberg Three airlines in South Africa took the unusual step of grounding some planes on October 22 after a regulator flagged compliance issues and ordered maintenance checks. Things got weirder when no one would publicly say exactly what needed checking. The groundings by state-owned South African Airways and its Mango unit, plus Comair Ltd, which operates British Airways domestic flights ...

Bloomberg Destination Maternity Corp, billed as the world’s largest retailer of maternity clothes, sought court protection from its creditors after warning investors it might not be able to survive as an independent merchant. The chain, which hasn’t posted an annual profit since 2014, listed assets and liabilities of as much as $500 million in its Chapter 11 petition, filed in ...

ABU DHABI / WAM His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Chairman of the Executive Office, officially graced the opening ceremony of FinTech Abu Dhabi (FinTechAD) on Tuesday at Abu Dhabi National Exhibition Centre (Adnec). Held under the patronage of His Highness Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of the Abu Dhabi Executive Council, Fintech ...

ABU DHABI / WAM Masdar, a subsidiary of Mubadala Investment Company and one of the world’s leading renewable energy companies, has announced that it is the winning bidder to develop Uzbekistan’s first Public-Private Partnership (PPP), solar project under the International Finance Corporation’s Scaling Solar programme. Announced by the Ministry of Investments and Foreign Trade of Uzbekistan, Masdar tendered the lowest ...

ABU DHABI / WAM The capitalisation of UAE capital markets amounted to AED895.5 billion ($243.8 billion) by the end of the second third of October, up 5.6 percent as compared to early this year, according to figures revealed by the country’s two main bourses. The market value of listed public and private joint stock companies is projected to further increase ...

Bloomberg Saudi Aramco is pushing to complete its initial public offering (IPO) this year by relying more on local investors, after international money managers’ skepticism triggered a brief delay, people with knowledge of the matter said. The state-owned oil producer is considering making a formal announcement of the listing plan as soon as the next few weeks, according to the ...

Bloomberg Oil jumped the most in more than a week after a report that Organisation of Petroleum Exporting Countries (Opec) and allied crude producers will discuss deepening supply cuts next month. Futures climbed more than 2% in London and New York on Tuesday. Members of the Opec are concerned about the outlook for demand next year, Reuters reported, citing unnamed ...

Abu Dhabi / Emirates Business The Abu Dhabi Digital Authority (ADDA), the lead Abu Dhabi government entity spearheading the emirate’s digital transformation agenda, has announced the launch of its new service, the ‘TAMM Care for key investors,’ which is part of the integrated services platform, ‘TAMM.’ The new service has been specially created to reach out to the key investors ...

Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, and Saudia, the national flag carrier of the Kingdom of Saudi Arabia, have marked the first anniversary of their commercial partnership by announcing 12 new codeshare routes to key destinations in Asia and Europe. Since signing their agreement in October, 2018, the two airlines have ...

DUBAI / WAM Etihad Energy Service Company (Etihad Esco), announced the signing of an agreement with Ducab, one of the UAE’s largest manufacturing businesses, on the sidelines of the 21st Water, Energy, Technology and Environment Exhibition (Wetex), with an aim to support the UAE’s solar energy sector’s growth. The new contract will see Ducab supply its SolarBICC cables – specially designed ...