Bloomberg A Colombian pilots union voted in favour of a strike at Avianca Holdings SA, which the company argues is illegal. The ACDAC union says that its members include about 700 pilots that work for the company and won’t fly during the strike—slightly more than half of Avianca’s pilots. Avianca said Colombian laws forbid those offering essential services from striking, ...

Bloomberg Ryanair Holdings Plc is cancelling as many as 50 flights a day for the next six weeks as it moves to reduce a backlog of crew vacation before as required by Irish regulators. The Dublin-based carrier will offer refunds or alternative flights to the “small number” of affected passengers over the period, it said in a statement, adding that ...

Bloomberg Hermes International warned that profitability probably has reached a peak and that the strong euro is set to erode 2018 sales of the company’s Birkin handbags and other luxury goods, spurring concern that the industry’s rebound may become rockier. The operating margin will probably narrow after reaching a record 34.3 percent in the first half, executives said, almost double ...

Bloomberg Qantas Airways Ltd. Chief Executive Officer Alan Joyce’s compensation almost doubled in the latest financial year after he helped revive the faltering Australian carrier. The total package for Asia Pacific’s best-paid airline executive surged to $19.7 million in the 12 months through June 30, from about A$13 million a year earlier, according to the company’s annual report released Friday. ...

Dubai / WAM Spending within the UAE’s travel and tourism sector is expected to rise steadily over the next five years and reach over $56 billion in 2022 as new mega-projects come to market, a recent analysis conducted by the Dubai Chamber of Commerce and Industry shows. The analysis, based on data from Business Monitor International (BMI) and the World ...

Dubai / WAM More new business opportunities in the GCC recently opened up for Brazilian investors with $32 billion worth of large-scale urban construction projects now being tendered in the region, according to the Arab-Brazilian Chamber of Commerce (ABCC). The ABCC, which aims to foster economic, cultural, and tourism ties between Arabs and Brazilians, said that the report released by ...

Dubai / WAM Sultan Ahmed Bin Sulayem, DP World Group Chairman, met Hong Kong’s Chief Executive, Carrie Lam, and discussed collaboration in a range of sectors from ports, logistics and customs to education and innovation, at a meeting in Hong Kong this week. The meeting, at Government House, was also attended by the Consul-General of the UAE to Hong Kong, ...

Dubai / Emirates Business Digital payments will dethrone “cash as king” in the Middle East, and boost regional GDP by nearly $100 billion, industry experts announced ahead of GITEX Technology Week. As Middle East countries accelerate their digital transformation agendas with nationwide high-speed technology connectivity, one of the biggest benefits will be quick and easy mobile payments. In the near ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, addressed over a million students in the UAE and congratulated them on the beginning of the academic year. The UAE Cabinet also praised the ease in which the 2017 – 2018 school year began. The Cabinet also commended ...

Abu Dhabi / WAM The UAE International Investors Council (UAECII) has made a range of strategic decisions to support the development of its working procedures, to serve its goals of promoting coordination and supporting Emirati companies that invest abroad. The Council made its decisions during its 14th meeting, which was chaired by Sultan bin Saeed Al Mansouri, Minister of Economy ...