Bloomberg Apollo Global Management LLC is seeking to raise as much as $1 billion for a new aircraft-finance fund. The fund, expected to launch this year, would make various aviation investments and have a nine-year term, according to a person with knowledge of the matter, who asked not to be identified because the information isn’t public. Charles V. Zehren, a ...

Bloomberg After spending more than a century selling baby formula, Nestle SA realised it’s neglected another potential customer: mom. The Swiss food giant is expanding its offering for expecting and lactating women to add products that it says will help reduce health risks related to motherhood. The business could generate $500 million to $1 billion in 10 years, according to ...

ABU DHABI / WAM The UAE cabinet has adopted a decision to amend provisions of the resolution on sponsoring of foreign workers to their families in the country. According to a statement by the General Secretariat of the Cabinet, the amended provisions now indicate “income” as a requirement for sponsoring family members, as opposed to the previously listed “professions” which ...

Dubai / Emirates Business As the company commemorates four decades as a leader in the UAE’s manufacturing sector, Ducab announced that its 2018 consolidated group sales rose to AED 4.8 billion, an increase of approximately 7% year on year. Ducab now operates six manufacturing facilities across four sites in the UAE, employing a workforce of over 1,600. Ducab Group now ...

Abu Dhabi / WAM The UAE gross bank assets, including bankers’ acceptances, stood at AED2.909 trillion, in February down from AED2.913 trillion in the preceding month, figures by the UAE Central Bank have showed. Gross credit in the banking system, rallied 6 percent from AED1.662 trillion in January 2019 to AED1.671 trillion in February, with total bank deposits following suit ...

ABU DHABI / WAM The Abu Dhabi Distribution Company, a branch of the Abu Dhabi National Energy Company PJSC, has stated that the emirate has saved 181 megawatts (MWs) of electricity during Earth Hour 2019. Launched ten years ago, Earth Hour is a global initiative that aims to engage individuals to support efforts in tackling climate change. Saeed Mohammed Al ...

ABU DHABI / WAM Agthia Group shareholders approved a cash dividend of 15 percent for an amount of AED90 million during its recent 14th Annual General Meeting in Abu Dhabi. Agthia Group PJSC, a UAE food and beverage company, had previously reported that net profit had increased to AED211 million in 2018, 11 percent higher when non-repeating items were excluded ...

Dubai / WAM Noor Bank enriched its loyalty, rewards and savings account portfolio by announcing a partnership with Emirates Skywards, the award-winning loyalty programme of Emirates and flydubai. John Iossifidis, CEO of Noor Bank, and Dr. Nejib Ben Khedher, Senior Vice President of Emirates Skywards, signed the partnership agreement that appoints Emirates Skywards as the bank’s primary points transfer partner. ...

Abu Dhabi / WAM A total of 2.35 million cheques worth AED201.4 billion were handled by the UAE Clearing Cheque System during first two months of 2019, according to statistics released on Sunday by the Central Bank of United Arab Emirates (CBUAE). The cheques handled during this period account for 19.25% of the total value of cheques handled throughout 2018, ...

ABU DHABI / WAM UAE Minister of State for Foreign Affairs, Dr Anwar bin Mohammed Gargash, categorically rejected a report by the Group of Eminent International and Regional Experts on Yemen, and urged the Human Rights Council (HRC), to instead refocus on providing support to the Government of Yemen in building institutions to protect human rights in the country. In ...