Bloomberg Deutsche Lufthansa AG shares dropped as Europe’s largest airline reported a first-quarter loss that was 80 percent higher than the average analyst estimate. The stock fell as much as 5 percent after Lufthansa posted an adjusted loss before interest and tax of 336 million euros ($380 million). The figure was worse than any of 12 earnings estimates and came ...

Bloomberg President Donald Trump gave Boeing Co a little advice on Twitter. The company should fix its troubled 737 Max and choose a new name following the Ethiopian Air Lines and Lion Air Crashes. “What do I know about branding, maybe nothing (but I did become President!), but if I were Boeing, I would FIX the Boeing 737 Max, add ...

Bloomberg On a recent weekday at the newly opened Champion store in Philadelphia’s Center City, the brand’s oversize red, white and blue “C” is everywhere: across the chest of thick cotton sweatshirts, down the sides of track pants and on the front of baseball caps. A couple of 20-somethings sift the clothing racks during the lunch hour. They drift through ...

DUBAI / WAM Expo 2020 Dubai and its legacy are expected to contribute AED122.6 billion ($33.4 billion) of gross value added (GVA) to the UAE’s economy from 2013 to 2031, according to the EY report, ‘The economic impact of Expo 2020 Dubai’. The report states that Expo 2020 is also expected to support up to 905,200 full-time equivalent, FTE, job-years ...

RED SEA COAST / WAM The UAE on Monday commissioned a new fishing slipway in Al Heima area, in Yemen’s Red Sea Coast, bringing to 22 the number of fishing facilities revamped by country to ease the suffering of the Yemeni people. The solar-powered facility caters to needs of over 10,000 people in Al Heima area and its adjacent districts. ...

DHAHRAN / WAM The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings on Monday announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company BV (AOC), to purchase a 17 percent stake in South Korea’s Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings. The investment is valued at approximately $1.25 billion. AOC’s ...

Emirates Business Etihad Airways, the national airline of the UAE, has announced a new deal with Amadeus to transform its global load control system. The partnership will be launched worldwide to support Etihad Airways’ ongoing mission to improve operational capabilities and efficiencies. Etihad Airways will use Amadeus Altéa Departure Control Flight Management to improve productivity with increased automation and integration, ...

DUBAI / Emirates Business Beautyworld Middle East 2019, region’s largest international trade fair for beauty products, hair, fragrances, and wellbeing opened in Dubai on Monday, featuring 1,790 exhibitors from 66 countries. Running until April 17 at the Dubai International Convention and Exhibition Centre, the 24th edition of the annual three-day event was opened by His Excellency Eng. Dawood Abdulrahman Al ...

Riyadh / WAM The Executive Committee of the UAE-Saudi Coordination Council announced the launch of seven joint committees at its second meeting in Riyadh on Monday as part of the two countries’ ongoing collaboration to integrate financial markets and investment; industry and energy; environment and housing; tourism and media; human development; politics; and military and security. The meeting was convened ...

Dubai / Emirates Business Global Village, the world’s leading multicultural Festival Park and the region’s first family destination for culture, shopping, and entertainment, closed the gates on its biggest ever season on April 13. Season 23 welcomed a record-breaking number of more than seven million guests over 166 days of operation, a jump of more than 16 percent over the ...