Bloomberg The state-owned Chinese company producing the nation’s first homebuilt single-aisle commercial aircraft expects to start mass production of the plane after 2021 as it seeks to chase markets in Asia and Africa. The C919 jet, built by Commercial Aircraft Corp. of China Ltd., will take about three to four years to get certification for airworthiness from the Civil Aviation ...

Bloomberg The airline industry’s most prominent trade body said it objects to any attempts by Singapore to charge travellers to help fund the construction of its new Terminal 5 in Changi Airport. The International Air Transport Association is “strongly against any pre-financing of any infrastructure,” IATA CEO Alexandre de Juniac told a media roundtable as part of the Singapore Airshow. ...

Bloomberg And just like that, another Internet giant is stepping into health care. Alibaba Group Holding Ltd. said it’s teaming up with AstraZeneca Plc in an effort to improve health services in China, the UK-based drugmaker’s second-largest market. Coming just days after a pledge by Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. to collaborate on new approaches ...

Bloomberg Unilever is rolling out new products such as Dove shower foam to boost sales as it struggles to raise prices on longtime mainstays like Hellmann’s mayonnaise. The Anglo-Dutch consumer-product giant introduced five new brands in its personal-care division in 2017, including Hijab Fresh, a hand and body lotion aimed at Muslim consumers, and soaps formulated for babies. That helped ...

DUBAI / WAM The outsourcing sector is an important pillar of the UAE’s economic diversification and among the fastest-growing sectors in the country with a compound annual growth rate (CAGR) of 11.2 percent, according to the ‘UAE Outsourcing Market Outlook 2016-2020’, a report by International Data Corporation (IDC). The report estimates that operational management revenues of business process outsourcing (BPO) ...

Bloomberg Dubai Holding LLC appointed Amit Kaushal as chief executive officer, replacing Edris Alrafi who left the investment firm after less than a year. Kaushal was previously chief financial officer at the conglomerate that manages about $35 billion of assets, according to an emailed statement. He was also senior vice president of funding and treasury management at property developer Meraas ...

DUBAI / Reuters Damac Properties is in talks with banks about a possible issue of US dollar-denominated Islamic bonds, sources familiar with the matter said on Monday. Discussions about a new issue are at an early stage, said the sources. A spokesman at Damac said: “We are continuously in talks with many bodies on funding possibilities and options. We always ...

ABU DHABI / WAM A group of key departments and institution came together in Abu Dhabi on Monday to announce the launch of Fikra Labs, described as an Acceleration Programme for Entrepreneurs. In the belief that research and development (R&D) can contribute to employment creation, national development, tourist promotion and economic growth, the concept of the Fikra Labs Acceleration Programme ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, has said that the UAE enjoys solid bilateral relations with Saudi Arabia, and that the two countries are brought together by strong ties based on shared cultures, history and noble Islamic and Arab values. He went on to say that the relations between the two countries represent a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed the launch of the ‘UAE Cultural Development Fund’, which will be overseen by the Ministry of Culture and Knowledge Development. The Fund’s key objectives include providing necessary funds to support cultural activity within the country ...