Bloomberg Landlords have malls they’d like to unload. But who’d want to buy them? As they battle the rise of e-commerce, US mall owners are trying to clear their books of fading centres so they can focus on the most-profitable ones. That’s proving difficult, with just a shallow pool of investors who are willing to take on a declining mall ...

Bloomberg India will soon revive the sale of its money-losing flag carrier with new guidelines after a recent attempt ended in a debacle last month, as the proposed terms deterred potential investors. Prime Minister Narendra Modi’s administration is ready to “re-examine” its privatisation process, including a clause requiring a minority state stake in Air India Ltd., said Subhash Chandra Garg, ...

Bloomberg Mercari Inc. priced its initial public offering at the top of the range to sell $1.2 billion worth of shares, a valuation that’s set to make its 40-year-old founder a billionaire. The online marketplace plans to sell 43.5 million shares at 3,000 yen apiece, at the top of the targeted range, including the sale of additional shares via a ...

Bloomberg Hong Kong Aircraft Engineering Co., a unit of Swire Pacific Ltd., jumped the most on record after the parent said it plans to pay a 64 percent premium for shares it doesn’t own, giving small investors an opportunity to exit after trading languished at minuscule volumes. The property-to-retail conglomerate, which already owns 75 percent of the company, proposed to ...

Bloomberg In 1980, the Soviet invasion of Afghanistan led dozens of countries to boycott the Summer Olympics in Moscow. An undaunted Adidas AG still sponsored the USSR’s Olympic team, becoming one of the first global brands well-known behind the Iron Curtain. This summer’s soccer World Cup should have had the German company cashing in big on its ensuing decades of ...

ABU DHABI / WAM The Federal Authority for Government Human Resources has announced that Eid al-Fitr holiday for federal entities in the UAE will begin on Thursday 29th Ramadan (corresponding to June 14), until 3rd Shawwal, which is yet to be declared. The Authority conveyed its greetings to President HH Highness Sheikh Khalifa bin Zayed Al Nahyan, and Their Highnesses ...

Dubai / Emirates Business Latest survey data signalled a sharp and accelerated improvement in the health of Dubai’s non-oil private sector. Output and new orders both expanded at the strongest rates since early 2015, with increases in the travel & tourism and wholesale & retail sectors key drivers of May’s improvement. Reflective of strong business conditions in the sector, positive ...

DUBAI / WAM Dubai-based developer Nakh-eel has awarded a contract worth AED447 million for the construction of a 12-lane bridge connecting the Dubai mainland with Deira Islands. The 600 metre bridge, being constructed by Wade Adams Contracting LLC under the supervision of the Roads and Transports Authority (RTA) will provide the main access route to the new, 15.3 square kilometre ...

Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA), the government body responsible for promoting the destination in key international and regional markets, has further strength- ened its position in in Europe with targeted industry initiatives in the first 5 months of the year. As part of RAKTDA’s destination 2019 strategy, increased emphasis has been put on growing further awa-reness ...

MAKKAH / WAM The UAE, Saudi Arabia and Kuwait have agreed to provide a $2.5 billion economic aid package to Jordan, to help the country which is facing an economic crisis following anti-austerity protests. The announcement was made in a joint statement following an emergency summit of the four nations which was held in Makkah. The meeting was hosted by ...