Bloomberg Economists gathered at an epicenter of Europe’s slowdown said there’s increasing urgency for political action to foster growth and shift the burden from the region’s monetary officials. At a meeting by Lake Como in Northern Italy, there was an outpouring of sympathy for European Central Bank President Mario Draghi and the onus his institution has faced to deliver incessant ...

Bloomberg Jet Airways India Ltd’s lenders invited initial bids to buy as much as 75 percent of the debt-laden carrier, starting a process that will determine the future of India’s oldest surviving private airline. Potential buyers must submit their interest by April 10, State Bank of India Ltd, the lead creditor, said in a document. A strategic bidder should have ...

Bloomberg Billionaire Mike Ashley made a fresh bid to prevent a wipeout of his equity in Debenhams Plc, offering to underwrite the issuance of 150 million pounds ($196 million) in new shares. The chief executive officer of Sports Direct International Plc said his support for the shareholder rights issue is conditional on him being named CEO of the department-store chain, ...

Bloomberg A $2.5 billion spending spree involving more than two dozen deals provides some insight into how Mukesh Ambani is piecing together a strategy to take on Amazon.com in India. Asia’s richest man is sharpening his focus on e-commerce with a string of tiny acquisitions and stake purchases to face the world’s largest online retailer, after shaking up India’s telecommunications ...

Bloomberg Selling “a rich man’s sauce at a poor man’s price” has made David Tran a very wealthy man. The 73-year-old Vietnamese refugee is responsible for bringing Sriracha to American consumers. After settling in Los Angeles in 1979, Tran founded Huy Fong Foods Inc, named for the Huey Fong boat that brought him to the US, and started making hot ...

Bloomberg Just hours after Ethiopia demanded Boeing Co fix flight controls blamed for the crash of a 737 Max 8 jet last month, the parents of an American victim sued the company, and her grand-uncle, consumer advocate Ralph Nader, called for a boycott and recall of the plane. The flurry of new legal woes came as Boeing Chief Executive Officer ...

ABU DHABI / WAM The UAE government, in cooperation with the World Economic Forum (WEF) on the Middle East and North Africa (Mena), has become first signatory to the ‘Scale 360’ initiative, which aims at moving towards a more circular economy while using less natural resources and reducing pollution to tackle climate change. This step reaffirms the UAE’s position as ...

Dubai / Emirates Business Emirates Islamic announced the launch of chat banking services for customers via WhatsApp, marking a global first in the Islamic banking sector. The bank’s customers will now able to conduct daily banking activities via WhatsApp in a seamless and hassle-free manner. The Chat Banking solution, supported by Infobip, further enhances Emirates Islamic’s suite of digital banking ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has expressed his happiness at Dubai’s number one ranking globally among the ‘Top FDI Performers 2018’ and termed the achievement “a precursor to Dubai’s future achievements.” Sheikh Hamdan said, “We are proud to announce the latest results of ...

Bloomberg Etihad Airways PJSC is seeking a loan of about $600 million to help make initial payments for planes, according to people familiar with the matter. Abu Dhabi’s state-owned carrier is arranging the loan on its own and has reached out to banks that may be willing to provide the unsecured facility with maturity of one or two years, said ...