Dubai / Emirates Business The Sustainable City received the Vice President of Uruguay, H.E. Raúl Fernando Sendic Rodríguez recently, the region’s first fully sustainable community hosted a big commercial delegation that included, H.E. Dr. Nelson Yemil Chaben Ambassador of Uruguay to the UAE, Mr. Daniel Fernández, Vice-president ´s Chief of Staff, Mr. Carlos Fagetti, General Director of the Ministry ...

  Dubai / Emirates Business The UAE’s existing and new generation theme parks will attract more than 19 million admissions a year by 2020 if current trends continue, according to data released by Colliers International ahead of Arabian Travel Market 2017. The prediction is made using existing admissions and arrivals data for Yas Island’s Ferrari World and Waterworld and Dubai’s ...

  Bloomberg Deutsche Lufthansa AG lost a German court bid to prevent pilots from resuming strikes on Tuesday in a labour dispute that has caused almost 4,500 flight cancellations this month. The Munich Labor Court denied the airline’s request for an injunction preventing the two-day walkout at the mainline Lufthansa brand, putting the pilots on track for their longest-ever work ...

  Bloomberg Saudi Arabian low-cost airline Flynas expects to decide “very soon” on an order for as many as 100 planes from either Airbus Group SE or Boeing Co. that it previously targeted for mid-2016. The carrier will communicate a decision to the planemakers “within the next few days or weeks,” Flynas Chief Executive Officer Paul Byrne said in a ...

  Bloomberg Bombardier Inc. is on track to overcome delays in shipments of engines for its brand-new C Series jetliner by the end of next year, according to the head of the company’s commercial aircraft unit. “It’s going to take mostly through 2017 to get right back on track,” Fred Cromer, Bombardier’s commercial aircraft president, told reporters Monday in Mirabel, ...

  Bloomberg Ask a harried air traveler about the basics of modern flight, and you’ll probably elicit surprise when they discover commercial airplanes fly only as fast as they did in the 1950s. Given the range of aerospace advances in the past half-century, plus the technological leaps in almost every other area of human endeavor, it seems reasonable to ask: ...

  Karachi / AFP Pakistan’s national flag carrier said it has raised $130 million in fresh financing from a banking consortium, as the airline staggers under the weight of earlier loans totalling more than $3 billion. Pakistan International Airlines (PIA) said in a statement the financing facility was arranged by Pakistan’s United Bank Limited (UBL) and Credit Suisse Singapore as ...

  Bloomberg Weak global growth and uncertainty over interest rates are among rising ‘headwinds’ that threaten to drag on Singaporean banking profits, according to the city’s central bank. The potential for spillover from vulnerabilities in China’s financial system into Asia and anti-globalization sentiment are also among challenges highlighted in the Monetary Authority of Singapore’s annual assessment of the financial sector ...

  Bloomberg DBS Group Holdings Ltd. and Bank of Singapore, Asia’s largest home-grown private banks, will consider more acquisitions as they grapple for a bigger slice of business from the region’s growing number of millionaires. DBS would look at any deal that fits with its strategy and is at the “right” price, the bank’s consumer and wealth head Tan Su ...

  Bloomberg The yuan climbed to its strongest level in a week, as Chinese authorities work to halt the currency’s recent plunge with stronger fixings and a verbal defense. The currency rose as much as 0.26 percent to 6.8900 per dollar, the strongest level since Nov. 22, before trimming the gains to trade 0.24 percent stronger as of 5:31 p.m. ...