Bloomberg South African Airways may not be able to continue to operate as a going concern, while the struggling state-owned airline has failed to properly record financial information and the value of assets, according to the Auditor General. SAA made a net loss of about $471 million in the year through March 2017, according to a document signed by AG ...

Bloomberg WestJet Airlines Ltd.’s appointment of a new chief executive officer opens the way for Canada’s No. 2 carrier to hammer out a labour deal with its pilots over the next few months, a union leader said. Relations had soured between the union and CEO Gregg Saretsky as WestJet pilots sought their first bargaining agreement. Those negotiations now fall to ...

DUBAI / Emirates Business The stage is set for the return of the Middle East’s only dedicated trade fair for tools, hardware, materials, and machinery next month in Dubai, as global manufacturers and local suppliers keep all eyes on a regional construction market that’s well on the road to recovery. More than 160 exhibitors are expected to take part in ...

ABU DHABI / Reuters Italian energy company Eni and state oil giant Abu Dhabi National Oil Co (Adnoc) are expected to sign a deal on Sunday, the Italian government and a source said. A statement from the Italian PM’s office said a signing ceremony was scheduled to take place after premier Paolo Gentiloni meets HH Sheikh Mohamed bin Zayed Al ...

DUBAI / WAM Dubai Land Department (DLD) has confirmed that it successfully conducted 8,173 real estate valuations worth over AED287 billion, the highest value ever recorded in 2017. According to a report issued by Taqyeem, Dubai’s Real Estate Appraisal Centre, valuations are done for a variety of reasons such as: investor visas, gifted transfer, auction sales, zakat calculations, sale estimates, ...

ABU DHABI / WAM The number of hotel guests staying in Abu Dhabi during January rose 7.4% versus the same month a year ago, building on the success of a record-breaking 2017 when close to a total of five million people stayed in the emirate. In total 437,228 hotel guests stayed in the emirate’s 162 hotels and hotel apartments during ...

DUBAI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) has announced the completion of 50 percent of the main tunnelling work on the Route 2020 Project, which extends 3.2 km at a varying depth from 12 to 36 metres, while the completion rate of the construction of ...

Dubai / Emirates Business His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO) on Saturday announced that the integrated free zone technology park has achieved remarkable results in 2017 with a total revenue of AED590.5 million and growth of 11.2% compared to the previous year. Overall ...

Dubai / Emirates Business Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has signed a Memorandum of Understanding (MoU) with Middle East Venture Partners (MEVP), a Middle East-focused venture capital firm that invests in the early and growth stages of innovative companies, to facilitate exchange of information on ...

Dubai / Emirates Business The 13th edition of Dubai WoodShow takes off at the Dubai World Trade Centre on Monday in the presence of HE Pacome Moubelet Bouyeba, Gabonese Minister of Forest, Vira Khmerova, Vice President of the Department of Chemical Engineering and Wood Processing, Ministry of Industry and Trade of Russia, along with other key international dignitaries and officials ...