Bloomberg Two top executives of Jet Airways India Ltd resigned this week, further diminishing prospects for the grounded carrier that is desperately seeking $1.2 billion to fly again. Chief Executive Officer Vinay Dube and Chief Financial Officer Amit Agarwal quit the company citing personal reasons, Jet Airways said in two separate stock exchange filings. While both resignations were effective immediately, ...

Bloomberg Tour operator TUI AG held to its forecast while warning that it’s battling overcapacity this summer in the Spanish vacation market, as a deadline looms for its grounded fleet of Boeing Co 737 Max jets. The Hanover, Germany-based company reiterated its expectation for a 2019 drop of 17 percent in underlying earnings before interest and taxes. But expenses related ...

Bloomberg Boeing Co has started storing 737 Max jets at a vast Texas maintenance base as the planemaker continues to churn out the single-aisle aircraft while waiting for regulators to lift a global grounding. Planespotter Chris Edwards picked up the radar track of the first factory-fresh Max to be parked outside the Seattle area as it headed to San Antonio ...

Bloomberg The world’s largest chocolate market is finally getting a taste of the ruby range, the first new type in more than 80 years. Switzerland’s Barry Callebaut AG, the top maker of bulk chocolates, is rolling out its ruby breakthrough in the US almost two years after announcing the discovery. The new type of chocolate, with its pinkish hue, expanded ...

Bloomberg Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by sabotage over the weekend. Futures rose 1.2% in New York, reversing the previous day’s drop. Unidentified dro-nes attacked two pumping st-ations belonging to Saudi Ara- mco, forcing the state oil company to suspend operations in the ...

ABU DHABI / WAM Aldar Properties PJSC has reported a 20 percent year-on-year increase in revenue to AED1.76 billion in the first quarter of 2019. Asset management net operating income rose 9 percent to AED 431 million, driven by last year’s asset acquisitions while development sales totalled AED1 billion in the first quarter of 2019, up 49 percent from year ...

Bloomberg The US prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade. The US Trade Representative’s office released a list of about $300 billion worth of Chinese goods including children’s clothing, toys, ...

DUBAI / Emirates Business Emirates NBD, a leading financial institution in the region has bagged four prestigious titles at The Asian Banker’s International Excellence in Retail Financial Services 2019 Awards. Emirates NBD was named ‘best retail bank in the Middle East’ and ‘best retail bank in the UAE’, in recognition of the various milestones achieved by the retail banking division ...

Bloomberg Bitcoin strengthened past $8,000 for the first time in about 10 months on Tuesday, crossing another milestone as cryptocurrencies continued their scorching rally. The largest digital token climbed as much as 3.8% before trading at $8,096 in London, according to Bloomberg composite pricing. Tuesday’s advance follows a 25% surge a day earlier — the biggest one-day increase for Bitcoin ...

ABU DHABI / Emirates Business Etihad Airways, the national airline of the UAE, announced it is extending its free Abu Dhabi stopover campaign to the end of the year due to the popularity of the special offer in its opening month. Travellers flying through the capital of the UAE with the airline are invited to enjoy a free two-night hotel ...