Bloomberg French retailer Casino Guichard-Perrachon SA will pay as much as $196 million to buy out its Cnova NV online retail business, just a year and a half after listing about 6 percent of the unit in New York. Casino is offering $5.50 a share, it said in a statement on Thursday. That’s 62 percent higher than Cnova’s closing ...
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Bloomberg Aircraft-leasing firm Doric is preparing to take back five Airbus Group SE A380 superjumbos from Singapore Airlines Ltd. starting next year, in a move that would be the first test of second-hand demand for the world’s biggest jetliner. While Singapore Air hasn’t officially decided to return the planes, London-based Doric and fellow owner Dr. Peters Fund KG of ...
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Bloomberg Deutsche Lufthansa AG will rein in expansion plans this year as a glut of plane seats depresses ticket prices and travellers delay bookings amid fears of terror attacks. Capacity growth this year will be below the previously targeted 6 percent, Chief Executive Officer Carsten Spohr said in an interview in Berlin. That marks the second reduction in projected ...
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Los Angeles / AFP The Solar Impulse 2 took off from Phoenix, Arizona to Oklahoma on Thursday, resuming its record-breaking quest to circle the globe without consuming a drop of fuel. The experimental solar-powered plane, piloted by Swiss adventurer Bertrand Piccard, took off for the latest stage of its around-the-world flight aimed at drawing attention to clean energy technologies. ...
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Our Correspondent / Emirates Business Forever Rose cements the notion of everlasting love for those passionate about romance and luxury. Founded in London, England’s capital, in 1999 and launched in the UAE in 2014, Forever Rose has emerged as a purveyor of the world’s finest roses, first developing a name among high society for its luxurious floral artistry and ...
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Our Correspondent / EMIRATES BUSINESS Ever since it burst onto the casual dining scene in 2013 in California, US, The Counter has developed a reputation as the pre-eminent name in custom-built burgers. The brand is now firmly established in the UAE where it is attracting an enthusiastic clientele of burger lovers who are enjoying its premium taste offerings and ...
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Bloomberg Emerging-market stocks swung between gains and losses as investors assessed prospects for global growth and political risks. Equity benchmarks in Hong Kong and India fell at least 0.5 percent, while shares in Brazil gained for a second day before a Senate vote on impeaching the president. In Turkey, the lira fell for a fourth day amid signs President ...
Read More »RIYADH / WAM The UAE has participated in the 26th meeting of the GCC Ministerial Committee for Planning and Development held today in Riyadh. In the meeting the ways to enhance integration and co-ordination in the planning and development fields among GCC member states were discussed. The participants also discussed a number of issues related to joint work and ...
Read More »ABU DHABI / EMIRATES BUSINESS Abu Dhabi National Insurance Company (ADNIC) announced on Wednesday its financial results for the first quarter, ended March 31. The Company reported a net profit of AED 39 million for this period, a growth of 670% over the same period of last year. The Company’s net investment income contributed 22.5 million towards the bottom-line profit ...
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Dubai / WAM HH Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai International Marine Club (DIMC) has honoured the top performers in the fourth ‘Consumer Friendliness Index’ of the Department of Economic Development (DED) in Dubai at a special ceremony held on Wednesday. Retailers from seven sectors were honoured along with LuLu Hypermarket and Alshaya Group, ...
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