BLOOMBERG Crude surpassed $50 a barrel for the first time in six months amid signs the global supply glut is coming to an end, buoying currencies where oil is produced. U.S. stocks fluctuated after a two-day rally. A drop in U.S. stockpiles and shrinking output in Nigeria and Venezuela contributed to the gains in Brent, which is up more ...

  DUBAI / Reuters Thursday, but helped carry Dubai’s index higher for a fourth session. Other markets were mixed. The Riyadh index failed to hold on to earlier gains as investors booked profits, snapping two days of gains. Although petrochemical shares remained resilient, with the sub-index advancing 0.3%, it closed 49 points below its intra-day high, a sign that investors ...

  Kuala Lumpur / Bloomberg AirAsia Bhd., Southeast Asia’s biggest budget carrier, reported an almost sixfold jump in quarterly profit amid plans to expand its fleet in a region projected to surpass the US as the world’s biggest air-travel market in two decades, led by China. The Sepang, Malaysia-based company said net income in the quarter through March climbed to ...

  Washington / AFP The sun-powered Solar Impulse 2 aircraft landed in the US state of Pennsylvania, completing the latest leg of a record-breaking flight around the world to promote renewable energy. After taking off from Dayton, Ohio early Wednesday, the plane piloted by Swiss explorer Bertrand Piccard arrived at 8:49 pm (0049 GMT Thursday) at Lehigh Valley International Airport after ...

  Maryland / Bloomberg Lockheed Martin Corp. is leaning toward the Tata Group as a potential partner to build its flagship F-16 as India looks to modernize an aging fleet of fighter jets. “Naturally we would gravitate to Tata,” George Standridge, Lockheed Martin’s vice president for Aeronautics Strategy and Business Development, said in an interview in New Delhi when asked ...

  New York / Bloomberg US airlines and airports are spending millions on added workers to avoid a repeat of long security lines, as the coming Memorial Day weekend kicks off what’s expected to be a record year for summer travel. “We are concerned for this weekend, where we’ll see higher than normal flight loads,” said Ross Feinstein, a spokesman ...

  Shanghai / Bloomberg ZTE Corp., China’s second-largest maker of networking gear, plans to open 23 flagship stores by the end of this year to drive sales of its smartphones and consumer devices. About 20 outlets will be created in major Chinese cities while the company plans one each on Germany, Russia and Mexico, said Adam Zeng, chief executive officer ...

  Dubai / Emirates Business According to stats from the UAE’s top finance comparison site compareit4me.com, recent figures show a 115 percent increase in the number of consumers searching for business loans on the site between January and March of this year, compared with the same period last year. Currently in the UAE, SMEs contribute an estimated 40-46 per cent ...

  Sunaina Rana / Emirates Business The youngest Emirati real estate professional, Khaled Ali Al Shawy, will collaborate with JK Properties and The Heart of Europe to host a private event which will give a sneak-peak into the Limited Signature Edition Floating Seahorse ocean villas in Dubai on May 30. The one-day event will feature the limited Signature Edition Floating ...

  RITIKA SHARMA / Emirates Business Catering to the rising demand of in-flight connectivity, private carriers in the region are enhancing their capacity to offer superior flying experience to their charter-jet customers. Treading the phenomenon, Dubai-based business-jet company Empire Aviation Group has collaborated with a global aerospace technology leader, to access its connectivity services for both the cabin and the ...