Bloomberg Kenya Airways Plc plans to add as many as 20 new destinations in Africa, Europe and Asia in the next five years, Chief Executive Officer Sebastian Mikosz said. The route-network expansion will help sub-Saharan Africa’s third-biggest carrier, in the midst of a turnaround programme after a record loss in 2016, return to profit. The airline reported a 6.1 billion-shilling ...

Bloomberg Airbus SE has lost a contest with Boeing Co. to sell wide-body jets to American Airlines Group Inc., dealing a blow to the European planemaker’s efforts to boost A330neo orders in the world’s biggest aviation market. Talks with American over the re-engined model have ended, Airbus said in response to questions from Bloomberg, saying it was unwilling to match ...

Bloomberg Ryanair Holdings Plc has revived plans to extend its network further east than ever before with flights from Ukraine, according to the European country’s premier. A deal formalising the expansion should be signed later this week, Ukrainian Prime Minister Volodymyr Hroisman said in a statement on the government’s official website. Europe’s biggest discount airline had previously aimed to serve ...

Bloomberg US airlines tumbled after Southwest Airlines Co. cut its forecast for an industry revenue benchmark, citing stepped-up competition and a surprise drop in travel demand. The weaker outlook is spurring investor fears that United Continental Holdings Inc.’s expansion plan will rekindle fare wars that have plagued the industry off and on since 2015. When the supply of seats outstrips ...

Bloomberg Amazon.com Inc., locked in a margin-crushing price war, is offloading costs onto suppliers and limiting the number of single, low-priced items shoppers can purchase in an effort to offset rising shipping costs. In a marked shift in strategy, the e-commerce giant is raising transportation fees for suppliers of beverages, diapers and other heavy, bulky products that are expensive to ...

Abu Dhabi / WAM The China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with the Abu Dhabi National Oil Company (ADNOC) on Wednesday. Under the terms of the agreements, CNPC, through its majority-owned listed subsidiary PetroChina, has been granted a ...

ABU DHABI / AGENCIES President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued, in his capacity as the Ruler of Abu Dhabi, a law restructuring Abu Dhabi Investment Council (ADIC) whereby it will become part of the Mubadala Investment Company group. Abu Dhabi is combining two of its investment firms to create a wealth fund with assets of ...

Abu Dhabi / WAM Driven by the strategic partnership between Aldar and Emaar, the largest property companies on the local market, the UAE stocks posted AED5 billion gains. The DFM General Index closed on a high note of 3206 points, 00.75% up from the last traded session, with ADX General Index following suit at 4566 points, 0.91% higher than Tuesday. ...

DUBAI / WAM Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, met senior executives from India’s Tata Group to explore opportunities for cooperation, knowledge sharing, and best practice. Discussions covered logistics and supply chain operations, innovative customer care and creating high quality, sustainable services. Bin Sulayem outlined DP World’s operations across 40 countries, and its role in ...

ABU DHABI / WAM The 2017 non-oil gross domestic product grew 2.9 percent, while the oil real GDP growth was up 1.5 percent, with the country’s real GDP hitting 1.5 percent, according to a UAE Central Bank report that forecast the UAE GDP growth to amount up to 2.5 percent in 2018 and 2.8 percent in 2019. Government spending over ...