Kuala Lumpur / Bloomberg AirAsia Bhd. received an offer valued at about $1 billion for its aircraft-leasing business, Chief Executive Officer Tony Fernandes said, prompting the shares to reach a new 14-month high in Kuala Lumpur trading. Asia’s biggest discount carrier intends to divest the fully-owned unit called Asia Aviation Capital Ltd. at some point, Fernandes said in an ...

  Beijing / Bloomberg Walt Disney Co. said it’s prepared to take action to protect its intellectual property rights after performers dressed as Snow White and Captain America were sighted at Dalian Wanda Group Co.’s new theme park and entertainment complex in China. “We vigorously protect our intellectual property and will take action to address infringement,” the company said in ...

  Philippines / Bloomberg San Miguel Corp. President Ramon Ang gave up his telecom ambitions by agreeing to a $1.5 billion deal that raises money for his energy, infrastructure and other businesses’ expansion. Philippine Long Distance Telephone Co. and Globe Telecom Inc. acquired the telecommunications business of San Miguel Corp. for about 70 billion pesos ($1.5 billion), including debt, according ...

  Shanghai / Bloomberg China’s slowing economy isn’t putting the brakes on tourism. Shanghai Disneyland attracted almost 1 million visitors to its public areas weeks before the $5.5 billion theme park officially opens June 16. And tourism spending is likely to triple by 2020 after industry investment jumped 42 percent last year, the government says. “The Chinese consumer is spending ...

  ALKESH SHARMA / Emirates Business A gateway to the most exciting retail market in the world, the Retail Show Middle East 2016 is all set to open on Tuesday. The two-day event — a platform for innovation, new partnerships, and launch of ground-breaking products — will host exhibitors and attendees from across the Middle East, North Africa, Indian subcontinent, ...

  Ritika Sharma / Emirates Business In solidarity with the cause of World Environment Day on June 5, Dubai-based youth organisation Green Hope conducted a waste recycling campaign and planted 150 saplings, taking strides towards a green future. Members of Green Hope, which works to promote sustainable development amongst all sections of civil society, collected large quantities of recyclables, such ...

  Dubai / Emirates Business Arabian Falcon Holidays (AFH), the largest independent timeshare player in the Middle East, has concluded a successful participation in the Nigeria roadshow organised by Dubai’s Department of Tourism and Commerce Marketing (DTCM). This is in line with AFH’s thrust to partner with the government in promoting Dubai as a leisure destination among African tourists. Africa ...

  Abu Dhabi / Emirates Business Abu Dhabi Commercial Bank (ADCB) has received two of the financial services industries most prestigious awards — the Asian Banker Leadership Achievement Awards. Group CEO and Executive Director, Ala’a Eraiqat, was honoured with the Asian Banker CEO Leadership Achievement Award for the UAE, while ADCB was also recognised as The Best Managed Bank in ...

  Emirates Business Chestertons MENA, a leading international property agency, is expanding its UK property investment reach beyond the traditional London M25 boundary, with the launch of a number of new prime developments in the key gateway cities of Manchester and Birmingham due to strong economic growth, large student populations and major government transport infrastructure investment. “Manchester is a city ...

  RITIKA SHARMA / Emirates Business Gone are days when holidays meant just an escape from the world without any communication back home or office. With technology taking strides in almost everything around us, travel is no more an ‘out-of-sight out-of-mind’ case. From seeking a one-time experience during holidays to the era of instant feedbacks and reviews, things have changed ...