Bloomberg EgyptAir, seeking to overcome slumping tourist numbers and the impact of a fatal jetliner crash, revealed an order for nine Boeing Co. single-aisle jets and said it plans to buy more planes to aid its recovery. The Mideast carrier, disclosed as the buyer of the 737-800 aircraft valued at $864 million and entered into Boeing’s books some months ...

  Bloomberg Wells Fargo & Co.’s head of community banking, Carrie Tolstedt, will retire from the firm at the end of July. Tolstedt, 56, who led the retail-bank unit, will be succeeded on July 31 by Mary Mack, who oversees the retail brokerage, San Francisco-based Wells Fargo said this week in a statement. Tolstedt had joined a Wells Fargo predecessor ...

  REUTERS Qatar Airways is all set to buy 49 percent of Meridiana in a move that could bolster the Italian carrier’s ability to compete in the European market. The agreement was reached at the Farnborough International Airshow and the deal will close in early October, subject to certain conditions, Qatar Airways said in a statement on Thursday. The airline ...

  AFP German airline Germania has ordered 25 single-aisle fuel-efficient Airbus A320neos worth $2.6 billion (2.4 billion euros) at list prices in an announcement at the Farnborough air show. The firm aircraft order, for delivery from 2020 onwards, will double the Germania Group’s current fleet of aircraft, the pair announced on the second day of Farnborough. Airlines typically negotiate sizeable ...

AFP Oculus has announced it is ramping up availability of its Rift virtual reality gear and planning a major conference in October for developers making software for it. Facebook-owned Oculus said that all pre-ordered Rift headsets have been sent to buyers, and promised that new orders made online at oculus.com will ship within four business days. “We want to apologise ...

  Farnborough / AFP The aircraft sector hit turbulence as European giant Airbus slashed output of its A380 superjumbo because of weak demand, putting the brakes on plane orders generally at Farnborough. The Franco-German planemaker revealed at Farnborough — one of the world’s largest civilian and defence airshows — that it would halve production of its enormous A380 to one ...

  Bloomberg Many employees take pride in personalizing their workspace. But while it’s not uncommon to see desks littered with action figures or cubicle walls cluttered with pictures, few people give much thought to the light around them. The intensity and type of light we live with during the workday can have a major impact on our health, happiness, and ...

  Russ Fujioka / TNS If your business isn’t already using cloud technology, you run the risk of being left behind. With younger startup companies starting out in the cloud and an increasing number of existing companies making the move, it’s time to step away from that pen and paper and even your desktop software; the cloud is here and ...

  RITIKA SHARMA / Emirates Business Taking strides towards a knowledge-based economy, UAE has set an example in finance technology (FinTech). Experts claim that the pace at which UAE is embracing latest technology in financial sector, it is already the ‘most developed’ nation in the Middle East in terms of global shift in payment methods. Factors such as high smartphone ...

  Dubai / Emirates Business The UAE will play a pivotal role in the global billion dollar theme park and amusement industry, according to Abdul Rahman Falaknaz, Chairman, International Expo Consults, the organisers of the DEAL 2017 show. Highly innovative and creative themepark concepts in the UAE will be one of the key factors that will attract and drive millions ...