Bloomberg American Airlines Group Inc. would consider barring passengers from changing nonrefundable tickets if Congress limits what carriers can charge for the adjustments, Chief Executive Officer Doug Parker said. “That non-refundable ticket is of value to us,” Parker told reporters after speaking to a business group in Irving, Texas. “We knew that seat was going to be filled. It allowed ...

Bloomberg Chanel No. 5 and the little black dress are about to come with a British twist. In a show of confidence for post-Brexit UK, French fashion icon Chanel Ltd. is transferring its global corporate functions from New York to a new home in London. Rather than expanding its Paris roots, the company will base its international team in London, ...

Bloomberg While Europe’s second-tier airlines collapse or wrestle with stretched finances, Wow Air plans to sell shares to the public. The Iceland-based low-cost carrier hired Arion Bank and Arctica Finance to prepare for an initial public offering in 12 to 18 months, it said, when it also published details about a bond issue. The 60 million euros ($70 million) bond, ...

DUBAI / WAM The United Arab Emirates has achieved a new accomplishment in ICT global competitiveness by achieving advanced ranks in the Global Competitiveness Index, according to the results published recently by the International Telecommunication Union (ITU). The results showed that the UAE is ranked first globally in the rate of mobile-broadband subscriptions, in addition to ranking first in the ...

Bloomberg China announced it will take retaliatory tariff action against $60 billion of US goods, sharply escalating their trade conflict as the Trump administration considers imposing duties on almost all Chinese imports. China’s retaliatory tariffs, on items ranging from meat to wheat and textiles, will take effect on September 24, China’s Ministry of Finance said in a statement posted on ...

Bloomberg The European Union (EU) outlined ways to bolster the World Trade Organization (WTO) in a bid to keep US President Donald Trump committed to the global commercial order that America helped shape after World War II. EU Trade Commissioner Cecilia Malmstrom presented a ‘concept paper’ aimed at strengthening WTO rules against trade-distorting subsidies, averting a deadlock in the dispute-settlement ...

DUBAI / WAM The Malaysian Franchise Association has chosen Dubai and the 3rd edition of “The Global Franchise Market Exhibition” (TGFM) to explore the emerging and lucrative markets in the Middle East and North Africa region, connect with local, regional and international franchisors and brand owners and expand their businesses within the region. TGFM, the official franchising event in Dubai, ...

Abu Dhabi / WAM A new minister of the UAE government and two judges took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. ...

Abu Dhabi / WAM The value of spending of federal authorities increased to around AED10.44 billion during the first quarter of 2018, an increase of 17 percent compared to AED8.92 billion during the same period in 2017, highlighting the country’s continuing overall development. According to a financial performance report on the country’s budget issued by the Ministry of Finance, the ...

Dubai / WAM Dubai’s non-oil foreign trade recorded AED645 billion in the first half of 2018, an increase of AED5 billion from 2017 figures. Dubai’s re-exports registered a AED24 billion increase and grew 14 percent to AED203 billion, which reflects the robust and healthy position Dubai leads as a distinctive regional and international re-export hub, while imports touched AED377 billion ...