Bloomberg Hong Kong may dig deep to reverse the city’s chronic shortage of land for building, adding underground caverns to the mix of options aimed at creating more housing in the world’s most expensive property market. It’s an option, according to a government body trying to come up with more land for development. Facilities such as sewage plants and reservoirs …

Bloomberg Airbus SE plans to cap its takeover of the Bombardier Inc. C Series jetliner by scrapping the Canadian plane’s 14-year-old branding, people familiar with the plan said. Among the names under consideration for a plane in which Bombardier invested more than $6 billion is “A200,” according to the people, who asked not to be identified as no decision has …

Bloomberg JetBlue Airways Corp. will reduce flights out of Long Beach by more than a third, after the California city blocked the carrier’s plans to add international flights, leaving a hole in its network from southern California. Daily departures from Long Beach will drop to 23 from 35 starting from September 5, JetBlue said in a statement. The move is …

Bloomberg Steinhoff International Holdings NV ex-Chairman Christo Wiese is suing the scandal-hit retailer for $4.8 billion as the South African billionaire seeks to recoup investments he made in the company in 2015 and 2016. The retail tycoon was the biggest shareholder in the owner of Conforama in France and Mattress Firm in the US when the company reported a hole …

Bloomberg InterGlobe Aviation Ltd.’s billionaire director Rahul Bhatia has taken over as interim chief executive officer after its president and director Aditya Ghosh unexpectedly resigned before a board meeting, the operator of India’s biggest airline said in an exchange filing. Ghosh is leaving at a time when the airline is changing some of its most successful policies such as moving …

Bloomberg Paul Singer’s activist hedge fund, best known for its jousts with underperforming corporate titans, is about to start selling books in the UK. Elliott Advisors, a unit of Elliott Management Corp., has entered a binding agreement to acquire Waterstones from Alexander Mamut’s Lynwood Investments, the bookseller said in a statement. Waterstones operates a chain of 283 bookshops in the …

MEXICO CITY / WAM The UAE Ambassador to Mexico Ahmed Hatem Al Menhali met with Mexico’s Secretary of Tourism Enrique de la Madrid Cordero in the country’s Ministry for Tourism located in Mexico City, to discuss a number of issues of common interest. The two sides reviewed ways to enhance relations, namely boosting bilateral tourism between the UAE and Mexico …

Dubai / Emirates Business Muslim travellers will spend $157 billion by 2020, driven by millennial travellers and the top outbound market remains Saudi Arabia, which will grow 17 percent over the next three years alone, to reach $27.9 billion. The figures were released during Arabian Travel Market’s Global Halal Tourism Summit 2018, which was held at the Dubai World Trade …

Dubai / Emirates Business Blockchain adoption continues to grow across industries world-wide with total spending on blockchain solutions set to grow to $9.7 billion in 2021 according to International Data Corporation (IDC), leading provider of market intelligence, advisory services, and events for the information technology, tele-communications, and consumer technology markets. Startups in the nascent blockchain industry are driving this growth …

Bloomberg US stocks pared losses as investors mulled the impact of rising US bond yields and disappointing earnings. The dollar resumed its rally, climbing to the highest in three months. “The sharp sell-off in rates has hijacked market sentiment,” Mark McCormick, the North American head of foreign-exchange strategy at Toronto-Dominion Bank, wrote in a note to clients. “The 3% level …