September, 2016

• 6 September

  Al Baraka to merge unit with Burj Bank

  

    Reuters Bahrain-based Al Baraka Banking Group, one of the Gulf’s top Islamic banks, said its Pakistani unit would merge with Pakistan’s Burj Bank to create an institution with assets totalling more than $1.1 billion. The merger, which was approved by shareholders of the two banks last month and still needs regulatory approvals, would see Burj Bank holders receive one ...

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• 6 September

  Standard Chartered eyes Angola growth

  

    Bloomberg Standard Chartered Plc will look beyond Angola’s oil and gas industry to pursue growth and remains committed to the southwest African nation even as a plunge in crude prices batters the economy, according to the U.K. lender’s local partner. The bank was “focused on the oil sector but with changes we’re seeing today in the market an adaptation” ...

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• 6 September

  Airbus signs $6.5bn deals with Vietnam firms

  

    Bloomberg Vietnam airlines bought 40 airplanes worth $6.5 billion from France’s Airbus on Tuesday, as President Francois Hollande visited the communist nation to drum up business ties with one of Southeast Asia’s fastest-growing economies. The deal is the latest move by Vietnamese aviation giants to boost fleets and feed demand from a mushrooming middle class with money to burn ...

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• 6 September

  Bombardier sees Macri boosting Argentina business-jet market

  

    Bloomberg Bombardier Inc. expects that business-jet sales will recover in Argentina now that a new government has taken power, helping to offset weakness in Brazil and Venezuela. “Argentina has reopened for the past seven months, and we’ve seen tremendous traction,’’ said Stephane Leroy, sales head for the region. “We had virtually nothing for three years because customers couldn’t buy ...

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• 6 September

  Computer outage hits British Airways flights

  

    Bloomberg British Airways said a computer outage brought down its airport check-in system, causing delays to services across its global network and prompting staff to issue passengers with handwritten boarding passes in order to keep flights operating. “We’ve experienced some problems today, which our IT teams are working to resolve as quickly as possible,” the airline said Tuesday via ...

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• 6 September

  GE spends $1.4bn on 3-D printer-makers for jet engines

  

    Bloomberg General Electric Co. announced $1.4 billion in European acquisitions to add 3D printing technology to manufacture parts for jet engines and cars. The US company agreed to buy Sweden’s Arcam AB for 5.86 billion kronor ($680 million), alongside a separate transaction to acquire SLM Solutions Group AG of Germany, it said in a statement on Tuesday. GE’s aviation ...

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• 6 September

  LaCompagnie shuts premium London route on Brexit concern

  

    Bloomberg French business class-only airline LaCompagnie announced plans to halt flights between London and the New York area as a result of the UK’s vote to quit the European Union, just days after British Airways said it was reducing its own premium service between the cities. LaCompagnie will cease its four-times weekly operations between Luton, northwest of London, and ...

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• 6 September

  Workplace ergonomics in the spotlight

  

    Abu Dhabi / Emirates Business Mental health and ergonomics will be among the key sessions at an Abu Dhabi worker health protection conference this month, as Middle East occupational hygiene professionals obtain fresh insights into a shifting regional dynamic of workplace hazards. The 3rd BOHS Worker Health Protection Conference, co-organised by The Chartered Society for Worker Health Protection (BOHS) ...

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• 6 September

  Expo Centre Sharjah unveils new look for Mideast jewellery show

  

    Dubai / Emirates Business After the extraordinary success of its landmark 40th edition, the region’s most popular watch and jewellery show is once again set to cast its magic on jewellery lovers. The 41st MidEast Watch & Jewellery Show will bring global spotlight on the regional jewellery market and its celebrated passion for gold and diamond creations from September ...

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• 6 September

  GulfNav inks settlement pact with NAT

  

    Emirates Business Gulf Navigation Holding PJSC (GulfNav) and Nordic American Tankers (NAT) are pleased to announce that they have signed a new settlement agreement and the long standing debt that GulfNav owed to NAT has now been settled fully and finally pursuant to the terms. The new management of GulfNav have been and are working intensively to clear all ...

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