Bloomberg India’s Prime Minister Narendra Modi rode to power five years ago on his business friendly credentials and the promise of generating millions of jobs. Now an airline is on the verge of collapse, bringing Modi’s image under attack just months before national elections. Struggling in a competitive market where basic air fares can get as low as 2 cents, ...

Bloomberg EasyJet Plc said a decline in ticket prices is accelerating amid a fare war prompted by overcapacity across the European airline industry. Britain’s biggest low-cost airline said on Tuesday that revenue per seat, a measure of fares, will drop by mid-to-high single digit percentage points in the fiscal second quarter through March, at constant currencies. That’s after a 4.2 ...

Bloomberg US fast-food chain Taco Bell Corp is planning a spiced-up expansion in Thailand as the company grows its global footprint. The firm expects to open 40 restaurants in Southeast Asia’s second-largest economy by 2023, Liz Williams, the president of its international division, said in an interview. The first is due to open in Bangkok on January 24 and flavors ...

Bloomberg Shoprite Holdings Ltd shares tumbled as an update from Africa’s biggest grocer highlighted the pressures customers face in core markets such as South Africa and Angola, along with the effect of weaker currencies in many countries across the continent. South African supermarket sales rose 2.6 percent in the six months through December, compared with gains of 7.8 percent in ...

Bloomberg America’s largest wedding gown retailer emerged from bankruptcy, just weeks after it first sought protection from creditors. David’s Bridal Inc shrunk its debt load by about $450 million and is now owned by lenders including Oaktree Capital Group. The company, which filed for bankruptcy in November, was looking to exit bankruptcy quickly to avoid scaring off brides that might ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received the participants of the 27th conference of the General Union of Arab Writers in Abu Dhabi, being hosted in the UAE capital from January 19 to 22, with the participation of ...

Bloomberg The International Monetary Fund (IMF) cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and recent palpitations in financial markets. It predicts global growth of ...

DUBAI / WAM The UAE is ranked 1st regionally and 19th globally in the 2019 Global Talent Competitiveness Index report, published by Paris-based grad- uate business school Insead. For the fourth straight time, the UAE came ahead of Mena countries in the report — a comprehensive annual index that measures how countries and cities grow, attract and retain talent, providing ...

Bloomberg Oil steadied near a two-month high in New York amid a pullback in US drilling activity, while ongoing US-China trade talks left an uncertain outlook for demand. Futures rose 0.3 percent after surging 3.3 percent. The number of rigs drilling for oil in the US fell to the lowest since May, according to Baker Hughes data. China and America, ...

Dubai / Emirates Business Dubai Aerospace Enterprise (DAE) Ltd announced that it continues to make strong progress in building its managed aircraft portfolio. In 2018, DAE concluded transactions adding 19 aircraft to the portfolio valued at over $500 million, taking DAE’s total managed fleet to 54 aircraft. DAE is growing its managed portfolio both through sales of assets targeted for ...