Bloomberg Zara owner Inditex SA promoted Carlos Crespo to chief executive officer, naming an insider to spearhead the fast-fashion giant’s push into e-commerce. Crespo, 48, who is currently chief operating officer of the world’s largest apparel retailer, will report to Executive Chairman Pablo Isla, 55, who’s yielding the CEO position. The new chief will be responsible for technology, procurement and ...

Bloomberg Foot Locker Inc fell the most in nearly two years after it reported first-quarter sales and profit that missed analysts’ estimates. The athletic-shoe retailer’s shares tumbled as much as 19 percent in New York trading, the most since August 2017. The stock is now at its lowest level in a year, erasing a series of gains over the past ...

Bloomberg The US Securities and Exchange Commission (SEC) is investigating whether Boeing Co properly disclosed issues tied to the grounded 737 Max jetliner, according to people familiar with the matter, as regulators intensify their scrutiny of the company following two deadly crashes. Officials in the SEC’s enforcement division are examining whether Boeing was adequately forthcoming to shareholders about material problems ...

Bloomberg Flights to and from Indonesia’s Bali island have returned to normal, allowing the resort island to continue welcoming tourists, after a volcanic eruption. Airlines resumed flights to and from the I Gusti Ngurah Rai Airport on Saturday, Polana Pramesti, director general of civil aviation, said in a text message on Sunday. Several flights were cancelled after the Mount Agung ...

ABU DHABI / Emirates Business HE Hussain Jasim Al Nowais, Chairman of Khalifa Fund Enterprise Development (KFED) received a delegation from the Republic of Mali headed by HE Dr Boubou Cisse, Prime Minister of Mali at the Khalifa Fund headquarters in Abu Dhabi to explore and learn more about the fund’s experiences in initiating the culture of leadership among UAE ...

Bloomberg Oil limped to its worst weekly loss of the year as tensions lingered over how the trade feud between the world’s top economic super powers will hit demand. Futures in New York rebounded somewhat but still ended the week down 6.6 percent, the biggest decline since late December, after days of escalating rhetoric between China and the US. Chinese ...

ABU DHABI / WAM Adnoc is absorbing, embedding and applying cutting edge technology at every step of the production process from oil platforms to trading platforms, says Dr Sultan Al Jaber, CEO of Adnoc Group. “‘As we enter the Fourth Industrial Age, it is clear that this is an era defined by a transformation, not just of technology, but of ...

Bloomberg The Trump administration widened its dragnet on Chinese companies barred from selling to the US or buying components from American firms in a push to slow China’s technological advances. After crippling Huawei Technologies Co, the administration followed up by threatening to cut off US compone- nts or software to five Chinese video surveillance firms. But the plan might backfire, ...

Sharjah / Emirates Business Saudi German Hospitals Group, Sharjah and Ajman announced that it offers free surgeries for the people who cannot afford the healthcare services in the UAE. This is in line with the group’s corporate social responsibility initiative. ‘The group believes that access to the quality healthcare is the birth right of every citizen in the world and ...

DUBAI / WAM The Roads and Transport Authority (RTA), had completed 90 percent of the Tripoli Street Improvement Project and expects to throw it open to the public by June this year. The 12-km street, which links Sheikh Mohamed bin Zayed Road and Emirates Road runs parallel to Airport Street Improvement Project. The project was implemented on the directives of ...