New Delhi / Bloomberg India retained restrictions that prevent overseas airlines from raising stakes in local carriers even as it unveiled new rules to attract foreign investors into the world’s fastest growing major aviation market. The government will allow foreign entities such as funds and portfolio investors to fully own local airlines, removing an earlier cap of 49 percent, it ...

  Tehran / Bloomberg Iran Air, the Islamic Republic’s state carrier, signed a memorandum of understanding with Boeing Co. for narrow- and wide-body aircraft in the first transaction by the US planemaker since sanctions were lifted in January. The purchase includes a mix of 737 and 777 models, Iran Air said in a statement on its website. The carrier will ...

  RIYADH / Tribune News Service The SaudiGulf (Saudia Khalijiyah) airline will begin its domestic flights in the Kingdom this coming September, and is expecting to launch international flights to Dubai by the end of the year. Sources reveal the company is preparing on Wednesday to receive its airline operating license in the presence of Minister of Transportation Sulaiman Al-Hamdan, ...

  Beijing / Bloomberg Wal-Mart Stores Inc. will acquire a 5 percent stake in Asian e-commerce giant JD.com Inc. in a deal that will reshape the U.S. retail chain’s operations in China. As part of the agreement, JD.com will take ownership of Wal-Mart’s Yihaodian online marketplace, the companies said in a statement. The Chinese branch of Sam’s Club also will ...

  Kuala Lumpur / Bloomberg AirAsia Bhd. is considering hiring BNP Paribas SA, Credit Suisse Group AG and RHB Capital Bhd. to help sell its aircraft leasing unit as part of plans to raise funds and strengthen its finances, the group’s Chief Executive Officer Tony Fernandes said. Asia’s biggest discount carrier also plans to garner between $75 million and $100 ...

  London / AFP Britain’s referendum on European Union membership could go either way, polls indicated on Tuesday, after a day of tearful tributes to slain lawmaker Jo Cox whose brutal murder has overshadowed the campaign. The killing last week sparked accusations of hate-mongering in an already heated battle for votes before the momentous ballot on Thursday that could determine ...

  London / AFP With all the talk about European workers in the campaign ahead of Britain’s EU membership referendum on Thursday, many Poles living in the UK are concerned about what the future holds. The Polish community is estimated at 790,000 people, making up the largest number of about three million EU citizens living in Britain who have become ...

  Brussels / AFP A man with a fake suicide belt was arrested after a bomb scare at a shopping centre triggered a major anti-terror operation in central Brussels on Tuesday, federal prosecutors said. Belgium remains on a high state of alert after IS-claimed bomb attacks in March left 32 dead at the airport and on the metro. Tuesday’s incident ...

  Washington / AFP Venezuela asked the Organization of American States (OAS) to cancel a Thursday meeting on the country’s economic and political crisis in which its possible suspension could be discussed. In a letter to OAS General Secretary Luis Almagro, Venezuelan Ambassador Bernardo Alvarez asked the 34-country organization to scrap a session of its permanent council in Washington requested ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) won the Training Initiative of the Year Award from the Emirates Green Building Council, for the Carbon Ambassadors Programme. DEWA sponsors the programme to involve youth in environmental and sustainability issues. Dr Yousef Al Akraf, Executive Vice President of Business Support and Human Resources at DEWA, received the award ...