Bloomberg British Airways owner IAG SA reported a drop in third-quarter earnings after the UK carrier’s first pilot strike since 1979 disrupted flights and held back sales. The airline group, which also includes Spain’s Iberia and Aer Lingus of Ireland, had an adjusted operating profit of $1.6 billion, according to a statement, down 7% compared with 2018 on a pro ...

Bloomberg Airbus won an order from VietJet Aviation for 20 of A320neo narrow-body jets as the Asian carrier waits on deliveries of Boeing’s grounded 737 Max. The deal is for the new A321XLR extra-long-range version of Airbus’s work-horse plane, VietJet said, adding that it will become one of the first airlines in the world to receive a model unveiled at ...

Bloomberg Air France-KLM Group third-quarter earnings fell on lower demand for cargo transport and a reduction in lucrative last-minute passenger bookings at the height of the summer travel season. The shares fell the most in eight months. Operating profit dropped 16% to 900 million euros ($1 billion), the carrier said in a statement, missing an average forecast of 963 million ...

Bloomberg For more than two decades, airline credit cards offered consumers a simple formula: Spend a dollar, earn a mile, pay an annual fee, repeat. If you played the game correctly, you’d score at least a free ticket each year—just by making everyday purchases. The only issue? As powerful rewards cards such as the Platinum Card from American Express and ...

DUBAI / Emirates Business The Dubai Gold and Commodities Exchange (DGCX) is on course to break last year’s annual volumes record of 22.3 million contracts traded, having already traded 20.3 million contracts this year, valued at $373 billion. Last month, the DGCX traded 1.68 million contracts, and registered Average Daily Volumes (ADV) of 72,921, up 11.5% year-on-year (y-o-y). DGCX’s success ...

ROME / WAM The United Arab Emirates has been awarded a permanent membership with observer status on the Council of the International Centre for the Study of the Preservation and Restoration of Cultural Property (ICCROM). The decision was made by ICCROM’s Council 93rd session in Rome, in recognition of UAE’s support and contributions to organisation, including hosting the only regional ...

Bloomberg Saudi Crown Prince Mohammed bin Salman finally gave the go-ahead for the initial public offering (IPO) of Aramco, deciding there’s enough support from local investors for what’s likely to be a record share sale. The crown prince made the decision at a meeting he chaired and an official announcement is likely as soon as Sunday. The partial privatisation will ...

Bloomberg Southeast Asian countries should band together and speak with one voice in global trade disputes with the US and European Union (EU) to avoid being bullied, according to Malaysian Prime Minister Mahathir Mohamad. Speaking to a business forum in Bangkok, Mahathir said the 10-member Association of Southeast Asian Nations (Asean) should leverage its market of 650 million people to ...

Dubai / WAM Director General of Dubai Customs, Ahmed Mahboob Musabih and Oleksandr Khomiak, Consul General of Ukraine to Dubai discussed means of boosting cooperation between Ukraine and the UAE, especially in areas of trade. “It’s very important for us to boost ties of partnership with the Ukrainian diplomatic missions and companies. We have priorities which include delivering a leading ...

Abu Dhabi / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, has emphasised the UAE’s unwavering commitment to global prosperity and setting an example to Least Developed Countries in remarks made at the 8th Ministerial Conference of the Least Developed Countries organised by the United Nations Industrial Development Organization. The event, held on November 2 ...