Berlin / Bloomberg Avianca Holdings SA dropped the most in seven months, paring a rally that was sparked by speculation other airlines may seek to acquire a stake in the company, after Chairman German Efromovich said he’s currently seeking a partner rather than a buyer for the company. The stock dropped 7 percent to 2,475 pesos at 1:15 p.m. ...

  Kourou / AFP Europe’s Ariane 5 rocket launcher successfully sent two telecoms satellites, one for a US-based communications service provider and one for an Indonesian bank, into space. They were launched from Kourou, in French Guiana, at 6:38 pm (2138 GMT), according to launch company Arianespace. It was the third launch of the year, placing into orbit the Echo ...

  Los Angeles / Bloomberg The self-proclaimed godfather of the aircraft-leasing industry, Steven Udvar-Hazy, is stepping down as chief executive officer of Air Lease Corp. Udvar-Hazy, 70, will become executive chairman of the board on July 1, Air Lease said in a statement. John Plueger, 61, the chief operating officer of the commercial-aircraft leasing company, will take over as CEO. ...

  New Delhi / Bloomberg Used Airbus Group SE A380 superjumbos are being offered at a 40 percent discount to the $2 million-plus monthly rental rate for a new plane as leasing firm Doric seeks to spur demand for the second-hand jets. Doric is in talks with a number of potential operators for a tranche of double-deckers that could be ...

  DUBAI / wam The Dubai Electricity and Water Authority (DEWA) is supporting the Rashid bin Mohammed Ramadan Forum as its strategic partner, under the patronage of HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Foundation (MBRF). The forum was organised by the Department of Islamic Affairs and Charitable Activities (IACAD), ...

  ABU DHABI / EMIRATES BUSINESS ADNOC Distribution announced the opening of Motor World service station in Shamkha area of Abu Dhabi. The station is the largest within the company’s network of stations and petroleum services. The opening ceremony was attended by Abdulla Salem Al Dhaheri, Director, Sales and Marketing Directorate, ADNOC Group and Saeed Mubarak Al Rashdi, Acting Chief ...

  NEW YORK / WAM The UAE Consul-General in New York, Majid Al Suwaidi visited Charlotte, North Carolina, to meet with local government officials and business leaders, and highlight the strong bilateral relationship between the UAE and US. He visited the city to deliver his keynote remarks at the World Affairs Council of Charlotte’s Annual Meeting, where Al Suwaidi was ...

  Dubai / wam The Business Registration & Licensing (BRL) sector in the Department of Economic Development (DED) in Dubai recently received delegations comprising representatives from Dubai Airports, Roads & Transport Authority (RTA), and the Dubai Electricity & Water Authority (DEWA) at the Dubai Business Club, a 6-Star facility opened recently in DED to provide an exceptional experience and improved ...

  New York / AFP Hackers have diverted more than $50 million in digital currency from an experimental fund meant to demonstrate that such money is safe for use, according to the New York Times reported. The sum was stolen from a project called the Decentralized Autonomous Organization (DAO), which had collected the money in Ether, a form of currency ...

  wana / wam The Sheikha Fatima bint Mubarak Hospital built at a cost of US$5 million has been inaugurated in the Shulam area of South Waziristan, Pakistan. The project is in implementation of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi ...