Bloomberg India will break up its debt-burdened flag carrier into four separate companies and offer to sell at least 51 percent in each of them as part of a disinvestment proposed by Prime Minister Narendra Modi. The core airline business comprising Air India and Air India Express—the low-cost overseas arm—will be offered as one company, and the process will be ...

Bloomberg Airbus SE publicly questioned the future of the A380 for the first time, saying its flagship aircraft risks being shut down if the manufacturer fails to win a crucial order from the planemaker’s main backer, Emirates of Dubai. Emirates is the only airline with enough capacity to take enough planes to keep the programme alive, Airbus sales chief John ...

Bloomberg Montblanc, the penmaker that began making Swiss watches two decades ago, is shoring up its credentials as it expands with sports models near the price range where Rolex Group and Breitling AG timepieces start. The brand, owned by Geneva-based luxury-goods maker Richemont, is introducing a line of Timewalker sports watches with a mountain-climbing theme this year after entering the ...

Bloomberg The final numbers are in, and the past holiday season was indeed one of the best since the last recession—even if everyone didn’t partake in the good fortune. Sales rose 5.5 percent to $691.9 billion during November and December, the National Retail Federation said. The results exclude spending on cars, gas and restaurants. E-commerce and other sales that occur ...

ABU DHABI / WAM Masdar, Abu Dhabi Future Energy Company, on Sunday signed a Share Purchase Agreement (SPA) with Akuo Energy, the French IPP in renewable energy, to enter into the Krnovo Wind Farm, Montenegro’s first wind energy project. The agreement was signed by Niall Hannigan, Chief Financial Officer of Masdar, and Eric Scotto, Chief Executive Officer of Akuo Energy, ...

ABU DHABI / WAM The UAE stocks maintained their bullish trend on the first trading day of the week supported by the realty sector led by Emaar, which closed on a high note of AED7.30. The positive performance of the Dubai property giant reflected favourably on the entire real estate sector at DFM whose general index rose 0.53 percent, to ...

ABU DHABI / WAM The fifth meeting of UAE – India High Level Joint Task Force on Investments (‘the Joint Task Force’) was held on Sunday in Abu Dhabi, with significant progress being made on a number of key issues of mutual importance. The meeting was co-chaired by HH Sheikh Ham-ed bin Zayed Al Nahyan, Chairman of the Abu Dhabi ...

Abu Dhabi / Emirates Business Abu Dhabi Financial Group (ADFG), a leading global investment group, has set up its new offices in Abu Dhabi Global Market (ADGM) on Al Maryah Island, to allow for further expansion as the company continues on its growth trajectory. Jassim Alseddiqi, CEO of ADFG, said: “ADFG is delighted to have opened its headquarters at ADGM, ...

SHARJAH / WAM The Sharjah Economic Development Department (SEDD) launched four new technological projects by the end of December 2017. These projects come in line with the department’s commitment to accelerate the transition to a smart government model that ensures the provision of innovative services. The projects included the new portal, consumer protection site, SEDD application, and the new digital ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Sunday received Prince Abdulaziz bin Saud bin Naif bin Abdulaziz, Saudi Minister of Interior, and his accompanying delegation, at Zabeel Palace. Prince Abdulaziz conveyed the greetings of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz ...