Bloomberg The US Air Force’s next budget will request funds for eight new F-15 fighter-bombers from Boeing Co., beefing up its inventory with an upgraded version of a plane it last bought in 2001, even as it pursues the more advanced F-35 from rival Lockheed Martin Corp. The F-15s will be proposed in the fiscal 2020 budget, expected around March ...

Bloomberg Norwegian Air Shuttle ASA slumped to an almost seven-year low after offering heavily discounted shares to raise about 3 billion kroner ($350 million) to shore up its balance sheet. The rights issue, underwritten by investors including John Fredriksen, Nor- way’s richest man, is intended to buy the Oslo-based airline time following the collapse of protracted talks with suitors including ...

Bloomberg South African Airways will create three distinct business units focusing on domestic flights, pan-African travel and other international routes as the debt-laden airline battles to repair its balance sheet. The restructuring will not lead to a full breakup of the state-owned carrier, spokesman Tlali Tlali said by phone. Reuters had earlier reported the plan to separate into three divisions. ...

Bloomberg Delta Air Lines Inc. and UK discounter EasyJet Plc may invest as much as 400 million euros ($452 million) in the latest attempt to revamp struggling Italian airline Alitalia SpA, according to people familiar with an initial draft of the plan. Investors in a group led by rail operator Ferrovie dello Stato SpA are evaluating the financial needs of ...

Dubai / Emirates Business Majid Al Futtaim, one of the Middle East’s leading retailers, is spearheading the digital transformation of the region’s $313 billion retail market, both in taking a growing slice of e-commerce and enhancing Carrefour customer shopping experiences online and in-store. The Middle East retail sector is undergoing a sea-change. As more malls open, the GCC’s retail sector ...

ABU DHABi / WAM Speaking at a press conference on day two of the International Defence Exhibition and Conference (Idex 2019), and the Naval Defence and Maritime Security Exhibition (Navdex 2019), Brigadier Mohammed Al Hassani, Official Spokesperson of Idex 2019, and Commodore Fahad Nasser Saif Al Thehli, Official Spokesperson of Navdex 2019, announced 24 deals worth AED7,019,428,577. The total value ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met on Monday with Russian Industry and Trade Minister Denis Manturov, in presence of President Rustam Minnikhanov of Tatarstan, and later witnessed the signing of an agreement at at the International Defence Exhibition (Idex 2019). Sheikh Abdullah, Manturov and President Minnikhanov ...

ABU DHABI / WAM Mubadala Petroleum announced that it signed the Gross Split Production Sharing Contract (PSC), for South Andaman, as awarded by the Government of Indonesia pursuant to the 2018 Indonesian Third Direct Tender Round. Following the signing, Mubadala Petroleum is now the operator of both the South Andaman and the adjacent Andaman I PSC and a partner in ...

Bloomberg Crown Prince Mohammed bin Salman said his country plans to invest a whopping $20 billion in Pakistan as he began a swing through Asia. The two nations signed memorandums of understanding in the energy and agriculture sectors, including one for a $10 billion oil refinery in southwestern city of Gwadar, where China has helped build a deep water port. ...

Dubai / WAM Enoc Group signed a joint venture (JV), agreement with Proserv Egypt to set up Enoc Misr, its first on-ground operations in the lubricants sector in Egypt. The agreement marks Enoc Group’s physical presence in Egypt as part of its wider plans to expand internationally into key markets, including Africa. Through this joint venture agreement, Enoc Misr will ...