Bloomberg Construction workers have already started the work towards filling in part of the South China Sea to make room for Hong Kong airport’s third runway. The project is also set to make bankers busy. The Airport Authority Hong Kong needs to raise $8.8 billion to fund the runway, and should consider selling bonds and tapping the loan market, according ...

Bloomberg EasyJet Plc is working with a US engineering startup to develop a fully electric commercial plane within a decade, the low-cost British airline said on Wednesday. Founded last year by a team of engineers and battery chemists, US-based Wright Electric is setting its sights on designing an aircraft that can fly 335 miles. That would cover 20 percent of ...

Bloomberg As sales of Gucci’s snake-covered handbags and heels lead the luxury industry’s upswell, many of the brand’s Italian rivals are struggling to catch the wave. Shares of Prada SpA, Salvatore Ferragamo SpA and Tod’s SpA have all posted double-digit declines in the past six months as profits fall, while privately held Giorgio Armani SpA is pruning its lineup after ...

Dubai / WAM The fertiliser production capacity in the Gulf Cooperation Council (GCC) region has reached 42.3 million tonnes per annum in 2017, increasing by 12 per cent over the previous year, according to a new report of the Gulf Petrochemicals and Chemicals Association (GPCA). According to the report entitled, ‘2016 GCC Fertiliser Industry Indicators’, the industry expanded at the ...

DUBAI / WAM Dubai Economy achieved a milestone in its accelerators initiative by establishing a partnership to facilitate financial transactions through contactless payment. The partnership brings Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd together under the Dubai Economy Accelerators umbrella to develop and implement emCash, an encrypted digital currency, which people can use to ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has been named Leading Corporate for Investor Relations in the UAE at the 2017 Middle East IR Association (MEIRA), Annual Conference. The awards recognise top IR leaders in the region for the quality of their work, and are based ...

DUBAI / WAM Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, signed a Memorandum of Understanding (MoU), with global payments technology company, Visa, to jointly support innovative start-ups and exchange knowledge of emerging technologies. The MoU was signed by Shahla Ahmed Abdulrazak, Deputy CEO of DSOA, and Ihab Ayoub, ...

Dubai / Emirates Business HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), opened the Emirati-France Business Summit held by the RTA in collaboration with the French Business Council. The event, which attracted the participation of 63 Emirati and French entities, aims to boost PPP, nurture an investment climate ...

ABU DHABI / WAM The UAE’s Federal Authority for Nuclear Regulation (FANR), signed two international cooperation agreements with leading nuclear regulators to exchange knowledge and information related to peaceful use of nuclear energy, as well as safety and regulatory-related information. The pacts were signed on the sideline of the 61st General Conference of IAEA, held in Vienna. “Being UAE’s nuclear ...

THIRUVANANTHAPURAM / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, stated that the historical cooperation between Sharjah and Kerala is centuries long and is continuing. He stated this during his speech on Tuesday at the headquarters of the State of Kerala, during a ceremony that saw Sheikh Sultan being awarded an ...