Bloomberg Korean Air Lines Co is poised to order 30 widebody Boeing 787 aircraft, according to people familiar with the matter, in a deal that would be the first for the US planemaker at the Paris Air Show after rival Airbus SE clinched a series of sales. The deal was expected to be announced as soon as Tuesday, said the ...

Bloomberg London’s Heathrow airport has unveiled final plans for the development of a third runway as Europe’s busiest hub seeks to boost flights and stay ahead of rival bases in Paris, Amsterdam and Frankfurt. The runway should be opened by about 2026, with the full project to be finished by 2050 as part of a phased addition of capacity aimed ...

Bloomberg The impact of Target Corp’s weekend register glitch won’t show up until the retailer discloses quarterly revenue in August, but it could have cost the company about $50 million in lost sales, according to one analyst. Target’s registers went down for about two hours recentlyacross the chain, stemming from what the company called an “internal technology issue” that left ...

PARIS / WAM Abu Dhabi’s Sanad Aerotech on Monday announced the conclusion of a landmark agreement with Rolls-Royce plc to become a Rolls-Royce Trent 700 Authorised Maintenance Centre (AMC). Sanad Aerotech is a maintenance, repair and overhaul (MRO) provider for aero engines and industrial gas turbines that is wholly owned by Mubadala Investment Company PJSC. The agreement, which is valued ...

Bloomberg Huawei Technologies Co founder Ren Zhengfei expects US sanctions to curtail its revenue by about $30 billion over the coming two years, wiping out the networking giant’s growth by withholding critical American technology. Sales at China’s largest technology company will likely remain stagnant at about $100 billion in 2019 and 2020, the billionaire said during a panel discussion, quantifying ...

Sharjah / WAM The Sharjah Research Technology and Innovation Park (SRTI Park) launched the Sharjah Innovation Economy Report at a special ceremony on Monday. The event, held under the patronage of HH Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, took place at Al Jawaher Reception and Convention Centre. Based on a series of ...

Abu Dhabi / Emirates Business The importance of the regional pharmaceutical market will be discussed at the global pharmaceutical event CPhI Middle East and Africa, when it returns to Adnec in September, as the UAE’s pharmaceutical market is expected to increase in value to $4.5 billion by 2021. The event will tackle growing trend to import majority of pharma products ...

Abu Dhabi / WAM The Abu Dhabi Department of Energy (DoE) has signed a strategic partnership with the International Energy Agency (IEA) in order to promote knowledge exchange and resource development with a focus on training, capacity building and participation in international events and conferences. A memorandum of understanding (MoU) signed by the two parties focusses on one of the ...

DUBAI / WAM A high-level joint business and professional mission from China and Hong Kong have congregated in Dubai for a two-day business programme that focused on cooperation and investment opportunities in the UAE. The mission, co-organised by the Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region (HKSAR), and the Ministry of Commerce of the People’s ...

DUBAI / WAM Sultan bin Sulayem, DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation (PCFC), expressed his happiness that the “Productivity Engine” was approved by the Dubai Executive Council to be used at the government departments level. The engine, developed in-house by Dubai Customs, uses Artificial Intelligence, AI, to boost productivity, reduce costs ...