Bloomberg Boeing Co stripped Chief Executive Officer Dennis Muilenburg of his role as chairman, leaving him little margin for error in his final push to resolve the crisis engulfing the company’s 737 Max jetliner. Separating the CEO and chairman roles will let Muilenburg focus on getting the grounded jet back in the air, Boeing said in a statement. While the ...

Bloomberg Following the collapse of travel company Thomas Cook Group Plc, the UK government plans to change the law to allow failed airlines to keep flying in order to rescue stranded passengers. The tour operator’s bankruptcy last month forced the Civil Aviation Authority to deploy more than 150 planes to bring home 140,000 people, an airlift that cost about twice ...

Bloomberg Hugo Boss AG plunged to a nine-year low after the German suitmaker cut its full-year outlook on weakness in the US and Hong Kong, casting doubt on CEO Mark Langer’s turnaround efforts. The guidance reduction comes two months after the suitmaker previously lowered its outlook, citing weak sales to tourists and pricing pressure in the US Now the anti-Beijing ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Saturday welcomed Hazza Al Mansoori, the UAE’s first astronaut, as he returned to the UAE after eight days in space. Al Mansoori, accompanied by backup astronaut, Sultan Al Neyadi, landed at the Presidential ...

Bloomberg China will at least double its spending on US agriculture as part of a partial trade accord between the two countries that’s likely to be well received by crop traders when markets reopen. Under terms of the arrangement, spending will scale to an annual figure of $40 billion to $50 billion over two years, Treasury Secretary Steven Mnuchin said. ...

RIYADH / WAM An official spokesman for the Saudi General Directorate of Border Guards said that at 11:47 pm on Friday, an e-mail was received from Jeddah Radio containing a letter from the captain of Iranian vessel (Sabiti), reporting that the front of the vessel has been broken, resulting in an oil spill in the sea from the cargo and tanks ...

Abu Dhabi / WAM The visit of Russian President Vladimir Putin to the UAE this Tuesday translates the privileged and steadily growing strategic relations between the two countries, said Maadhad Hareb Al Khaili, the UAE Ambassador to Russia. “The visit will contribute to further consolidating the current strategic partnership between the two sides,” the diplomat told the Emirates News Agency ...

BEIJING / WAM A newly-signed agreement between Abu Dhabi Airports and Beijing Daxing International Airport (BDIA), will see the two sides share best practices and collaborate to enhance their airport operations. The Memorandum of Understanding (MoU), was inked at the BDIA Management Centre in Beijing, China, in the presence of Sheikh Mohammad bin Hamad bin Tahnoon Al Nahyan, Chairman of ...

Bloomberg Chinese President Xi Jinping and Indian Prime Minister Narendra Modi agreed to set up a new mechanism to discuss trade during two days of informal talks in southern India that were aimed at re-calibrating strained ties between the nations. India raised its concerns about the China-led Regional Comprehensive Economic Partnership (RCEP), Indian foreign secretary Vijay Gokhale told reporters on ...

Bloomberg Absa Group Ltd’s corporate and investment banking unit plans to open an office in China as part of an expansion that will also target other parts of Asia and the Middle East. “Next year, we will be seeking strategic approval from our board for an on-the-ground presence in China,” Charles Russon, the division’s chief executive officer, said in an ...