Bloomberg Blackstone Group LP is in talks to buy a stake in the loyalty programme of Jet Airways India Ltd., the troubled Indian carrier that’s exploring options to raise cash, people with knowledge of the matter said. The private equity firm has expressed interest in a deal that could value Jet Privilege Pvt at about 30 billion rupees ($429 million) ...

Bloomberg Cerberus Capital Management is among parties holding talks to acquire a stake in Swissport Group as embattled Chinese conglomerate HNA Group Co. weighs options for the airport luggage handler, people with knowledge of the matter said. HNA is working with advisers to explore possibilities for Swissport including the sale of a majority stake in the business, according to the ...

Bloomberg Holly Golightly take cover: Tiffany & Co. is renovating its 10-floor New York City flagship store on Fifth Avenue. The jeweller plans to spend as much as 2 percent of its worldwide net sales on the renovation over the next three fiscal years, which could peg the total cost at as much as $250 million, according to Bloomberg calculations ...

Dubai / Emirates Business Emaar Properties recorded revenue for first half of 2018 of AED11.474 billion ($3.124 billion), 46 percent higher than H1 2017 revenue of AED7.866 billion ($2.142 billion), led by strong construction progress and growth in malls business. Emaar’s net profit grew by 18 percent to AED3.344 billion ($910 million), prior to considering the effect of IPO of ...

Bloomberg India’s trade deficit in July widened to the most in more than five years, worsening the outlook for the rupee that hit a record low after a Turkish lira-led sell-off in emerging-market currencies. The trade deficit — gap between exports and imports — was $18 billion in July, fanned by a higher oil import bill, data released by India’s ...

ZANZIBAR / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, headed a UAE delegation to Zanzibar where discussions were held surrounding the enhancing of bilateral relations and cooperation. During the visit, Al Hashemy reaffirmed the UAE’s foreign policy to strengthen bilateral ties and build bridges of cooperation with the African continent based on the principles of ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry has announced that it will waive late membership fees in an effort to reduce the cost of doing business in Dubai and enhance the competitiveness of the emirate’s private sector. The move falls in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and ...

ABU DHABI / WAM Bryan Thompson has been appointed Chief Executive Officer of Abu Dhabi Airports. Thompson brings with him more than 25 years of international experience in various areas of airport management and operations, including ANS, terminal operations, strategy and planning, in addition to infrastructure and corporate development. In his previous role as Senior Vice President — Development at ...

Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) and the Dubai Islamic Economy Development Centre (DIEDC) on Tuesday signed a Memorandum of Understanding (MoU) to share knowledge, promote Shari’ah-Compliant finance, and help foster Dubai as the global capital of Islamic economy. Abdulla Mohammed Al Awar, CEO of DIEDC, and Les Male, CEO of DGCX, signed the agreement at ...

ABU DHABI / Emirates Business Watania Takaful Company, one of the leading insurance companies in the UAE, announced on Tuesday a net profit of AED7.8 million for the first half of this year the company delivered, marking an increase of 190 percent compared to AED2.7 million in the same period last year. The company pointed out the most notable feature ...