Bloomberg For 30 years, an army of UBS Group AG traders packed the football-field-sized floors of a building in the City of London’s largest office project. Now teams of laborers in high-visibility jackets are busily transforming the property for a different type of worker. Broadgate, a 32-acre (13-hectare) complex built to accommodate the banks and law firms that mushroomed out ...

DUBAI / Reuters Qatari nationals will not be allowed to board flights to Dubai or Abu Dhabi because the UAE has banned them from passing through its airports after Arab powers cut ties with Qatar, Etihad Airways said on Wednesday. Foreigners living in Qatar with residence visas will no longer be eligible for visas on arrival into the United Arab ...

Cancun / Emirates Business The International Air Transport Association (IATA) announced that Qantas will host the 74th IATA Annual General Meeting (AGM) and World Air Transport Summit. The event will attract the top leadership of the air transport industry to Sydney, Australia, from June 3-5, 2018. “Sydney is an excellent choice to become the capital of the global air transport ...

Casablanca / Emirates Business Etihad Cargo and Royal Air Maroc Cargo have signed a Memorandum of Understanding (MoU) which will see the two airlines cooperate in a number of areas including network development, freighter deployment and increasing traffic on several trade lanes over the next nine months. The MoU was signed at Royal Air Maroc’s headquarters in Casablanca by David ...

Bloomberg Steinhoff International Holdings NV said first-half earnings rose 13 percent as the acquisitive retailer that was started in South Africa reported revenue and margin growth across its household goods and general merchandise business. Operating profit increased to 903 million euros ($1 billion) in the six months through March, the Amsterdam-based company said on Wednesday in a statement. Sales advanced ...

Bloomberg Macy’s Inc. Chief Executive Officer Jeff Gennette is optimistic about the future of the largest department-store chain, even if it doesn’t look much like the store R.H. Macy imagined. Gennette, 55, wants to build Macy’s into a fashion destination where shoppers looking for exclusive products can buy online or on their phones as easily as in a store. In ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has signed an AED1.7 billion Operating Plant Service Agreement (OPSA) contract with German company Siemens. The 12-year contract includes providing maintenance, spare parts and gas turbine rehabilitation for the second phase of K-Station at Jebel Ali Power and Desalination Station, and the third phase of H-Station at the Al Aweer Power ...

ABU DHABI / WAM As much as AED97 billion is the total market value of shares owned by foreign investors on UAE stock markets in May 2019, accounting for a 12.8 percent of the total value of equities traded during the same period, which is estimated as much as AED756.5 billion. As per latest market statistics, stocks owned by UAE ...

DUBAI / WAM The Dubai Investment Development Agency (Dubai FDI) an agency of Dubai Economy, recently addressed investors and industry leaders in New Delhi and Mumbai to attract investments from India to the emirate and promote joint initiatives in vital sectors. The Dubai Multi Commodities Centre, DMCC, and Dubai Tourism and Commerce Marketing, DTCM, joined Dubai FDI in the two ...

Dubai / Emirates Business The Dubai Medical Tourism industry generated more than AED1.4 billion for the emirate in 2016. The city received 326,649 medical tourists, representing an increase of 9.5% over the previous year. The most popular areas of treatment for medical tour¬ists last year was orthopaedics, dermatology and ophthalmology. In 2016, the largest market for the emirate was Asian ...