BLOOMBERG American Airlines Group Inc Chairman Doug Parker, a longtime advocate for consolidation who oversaw a merger that made the carrier the world’s largest, plans to retire from the board, a little over a year after stepping down as chief executive officer. Greg Smith, a former Boeing Co chief financial officer who joined the airline’s board in January 2022, will ...

BLOOMBERG Alibaba Group Holding Ltd is pushing aggressive cost-cutting to boost profit as growth in its domestic China market remains anemic, a conservative shift for a tech giant that once spent aggressively to dominate wide swaths of the economy. The online retailer reported net income rose a better-than-anticipated 69% to 46.8 billion yuan ($6.8 billion), but revenue rose just 2.1% ...

BLOOMBERG Hong Kong’s goal to reclaim its spot as Asia’s premier financial hub is being tested by a scarcity of workers in the air industry that’s vital for reestablishing the city’s international links. The damage caused by years of closed borders is proving hard to undo. The number of workers employed at the Norman Foster-designed airport at the end of ...

BLOOMBERG Apple Inc. has a moonshot-style project underway that dates back to the Steve Jobs era: noninvasive and continuous blood glucose monitoring. The goal of this secret endeavour — dubbed E5 — is to measure how much glucose is in someone’s body without needing to prick the skin for blood. After hitting major milestones recently, the company now believes it ...

BLOOMBERG Mercedes-Benz AG has tapped Google to assist with a reboot of software-based features it’s expecting to generate just under €10 billion ($10.6 billion) of additional revenue by the end of the decade. The new operating system, to debut around 2025, will go into models spanning Mercedes’s entire lineup and keep vehicles updated throughout their lifespan, the luxury-car maker said. ...

Abu Dhabi / WAM Tawazun Council signed 11 deals, worth AED2.2 billion, with local and international companies on behalf of the Ministry of Defence on the fifth and final day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2023. This makes the cumulative value of the deals Tawazun Council signed on behalf of the Ministry of ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Alar Karis of Estonia on the occasion of his country’s Independence Day, marked on February 24. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, dispatched similar messages ...

  Abu Dhabi / WAM Non-oil foreign trade between the UAE and Kuwait has grown 87% over the past ten years to reach AED43 billion by the end of 2022, compared to AED23.3 billion in 2013, according to preliminary data issued by the UAE’s Federal Competitiveness and Statistics Centre (FCSC). The FCSC data showed total trade between the two countries ...

  Abu Dhabi / WAM Masdar, a leading global clean energy company, has announced a strategic investment in Pertamina Geothermal Energy (PGE), one of the largest geothermal players worldwide. This marks Masdar’s entry into the geothermal energy sector, in the world’s second-largest geothermal market. Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Chairman Masdar, said, “Achieving ...

  Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; and Ahmed Zeghdar, Algerian Minister of Industry, have discussed prospects for enhancing cooperation between the two countries, especially in the economic, industrial and commercial sectors. In a meeting between HH Sheikh Abdullah and Zeghdar in Abu Dhabi, they reviewed several ...