Bloomberg Turkish Airlines is considering options to fund its planned move to Istanbul’s new airport, due to open at the end of next year, reports said. Options under consideration include having the new airport’s consortium of builders, known as IGA, construct and own the facilities and lease them to the airline, three people said, asking not to be identified because ...

Bloomberg India’s federal investigation agency will probe a decade-old deal by the national carriers to acquire 111 aircraft, which saddled the flag carrier Air India Ltd. with losses, the Central Bureau of Investigation said. The CBI, as the federal police is known, registered three cases and one preliminary inquiry in the light of orders from the Supreme Court in January, ...

Bloomberg British Airways’ epic meltdown over a busy holiday weekend further fanned public outrage of an industry infamous for its focus on cost cuts over customer service, leaving the UK carrier scrambling to explain how a local computer outage could lead to thousands of stranded passengers. Amid United Airlines’ dragging fiasco, mass cancellations at Delta Air Lines and U.S. concerns ...

DUBAI / WAM Dubai Financial Market (DFM) for the fifth consecutive year and as part of its leading investor and issuer services, has successfully accomplished its cash dividend distribution for the financial year 2016, with as much as AED12.6 billion been disseminated to 331,000 investors. The number of listed companies that have outsourc- ed the dividend distribution process to DFM ...

Abu Dhabi / Emirates Business Bloom Properties, a Bloom Holding business specializing in the development of integrated and sustainable communities, announced that it has awarded five construction contracts worth over AED1 billion since the beginning of 2017. Bloom Properties selected leading construction companies to execute its projects. The developer appointed General Construction Company for the main construction works of Stella ...

Dubai / WAM Dubai Electricity and Water Authority (DEWA) signed a strategic partnership agreement with the Dubai Post digital platform. Dubai Post will set up and implement special visual content that reflects DEWA’s efforts in supporting its employees and helping them advance in various jobs, providing them with the appropriate environment to achieve the future objectives of DEWA and its ...

DUBAI / Reuters The government of Dubai is expected to raise the money needed to extend the city’s metro with an initial loan of roughly $500 million that will later be followed by loans guaranteed by export credit agencies (ECAs), banking sources familiar with the matter said on Monday. The department of finance will approach banks over the next couple ...

Dubai / WAM The 5th Nad Al Sheba Sports Tournament was launched by HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Mohammed bin Rashid Al Maktoum Knowledge Foundation, at the NAS Sports Complex, with the first two preliminary round matches of the volleyball competition held late in the day. “Unlimited Capabilities” is the theme of the 2017 ...

Abu Dhabi / Emirates Business The Department of Finance – Abu Dhabi (DoF) has announced that the ‘Al Maqta’a bidding hall’ processed 26 tenders for seven government entities in Abu Dhabi during the first quarter of 2017, worth over AED 5 billion. The capital and operational project tenders managed by Al Maqta’a during the first quarter of 2017, included service, ...

Sharjah / Emirates Business Adding to its portfolio of new businesses successfully making their way into the industry, Sheraa has facilitated the launch of ‘Tawseel’ (‘delivery’ in Arabic) – a food delivery service helping restaurants keep up with delivery requests without disruption in service. The startup operates with a fleet of eleven delivery bikes, including a Honda CBR 600 bike ...