March, 2017

• 15 March

  DAE acquires portfolio of ATR 72-600s from GECAS

    Dubai / Emirates Business Dubai Aerospace Enterprise (DAE) Ltd. announced it has completed the purchase of a portfolio of ATR 72-600 aircraft from GE Capital Aviation Services (GECAS). This purchase brings the total number of owned and committed ATR 72-600 aircraft in DAE’s fleet to 57, making DAE one of the largest lessors of the ATR 72-600 worldwide. In ...

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• 15 March

  Cathay Pacific posts first annual loss since 2008

  

    HONG KONG / AP Hong Kong’s Cathay Pacific Airways posted its first annual loss in almost a decade, blaming it on tough competition from rival airlines, slowing Chinese economic growth and a stronger currency. The airline said that it lost 575 million Hong Kong dollars ($74 million) in 2016 compared with a HK$6 billion profit the year before. The ...

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• 15 March

  Neiman Marcus puts itself up for sale

  

    Tribune News Service Special to Emirates Business A jewel and luxury fashion industry leader for more than 110 years is once again looking for a suitor. After reporting its sixth consecutive quarter of sales declines, Dallas-based Neiman Marcus said that it’s exploring all options, including a sale of the company. A sale has been rumored for some time. Saddled ...

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• 15 March

  Lufthansa reaches ‘breakthrough’ agreement with pilots union

  

    FRANKFURT / AP German airline Lufthansa has reached a preliminary agreement on a labor deal with its pilots that would cut pension liabilities and bar strikes through 2022. Lufthansa’s drawn-out talks with the Vereinigung Cockpit union have led to several costly stoppages that disrupted hundreds of flights. Lufthansa’s labor relations head, Bettina Volkens, on Wednesday called the deal a ...

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• 15 March

  Zara owner Inditex reports 10% rise in full-year profit

    MADRID / AP Zara fashion brand owner Inditex says strong sales and expansion of new stores boosted net profit in the past fiscal year by a 10 percent. The world’s largest clothes retailer said that net profit for the 12 months ending January 31 rose to 3.16 billion euros ($3.35 billion) from 2.88 billion euros ($3.06 billion) a year ...

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• 15 March

  Microsoft’s ‘Team’ software targets big-office customers

  

    Bloomberg Microsoft Corp. officially rolled out its Teams workplace-collaboration software, counting on integration with its ubiquitous Office and Outlook programs and partnerships with popular business software makers such as SAP to challenge Slack Technologies Inc. for big corporate customers. Teams, in preview mode since November, is now widely available in 181 markets, Microsoft said Tuesday. Already 50,000 Office 365 ...

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• 15 March

  Beauty app Meitu produces second billionaire as stock surges

  

    Bloomberg Wu Xinhong, co-founder and chief executive officer of Meitu Inc., became the second billionaire at the Chinese beauty-enhancing selfie app developer after the stock rose for nine straight days. The shares extended gains since it was added to a second equity-trading link between China’s Shenzhen exchange and Hong Kong on March 6, and jumped 11 percent to a ...

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• 15 March

  Investigation on Yahoo online security breach accelerates

  

    Bloomberg The US officials are planning to charge four people abroad related to the hacking attacks against Yahoo! Inc., according to a person briefed on the matter. The Justice Department is accusing them of participating in massive online security breaches that compromised hundreds of millions of user accounts, said the person, who asked not to be identified because it ...

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• 15 March

  Visit Taiwan for a holiday of a lifetime!

  

    Emirates Business Taiwan is a breathtaking island which is a host to a variety of terrain such as green mountains with rich flora and fauna, sea, natural hot springs and a lake surrounded by forests. A nature lover or a shopaholic, a foodie or an adventure seeker, Taiwan is perfect for all… Scenic attractions… Sun Moon Lake, a major ...

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• 15 March

  Eskimo village aims to serve up reindeer meat far and wide

  

    AP A remote Eskimo village on a tundra-covered island in western Alaska is hoping to counter its steep unemployment rate and achieve greater self-sufficiency through one of its few resources: reindeer meat. Mekoryuk’s tribal government is expanding its commercial reindeer venture with a herd introduced a century ago to Nunivak Island, 40 miles off the coast in the Bering ...

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