July, 2016

• 24 July

  American to defer 22 Airbus A350s to slow spending

  

    Bloomberg American Airlines Group Inc. will defer delivery of 22 wide-body aircraft to spread out more than $1 billion in spending. The world’s largest airline reached an agreement with Airbus Group SE to take A350 XWB aircraft from late 2018 through 2022, deferring each plane’s arrival by an average of 26 months. American previously was to get the first ...

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• 24 July

  Solar Impulse 2 leaves Egypt for final leg to AUH

  

    CAIRO / AFP The first solar-powered plane to circle the world took off from Cairo on Sunday for Abu Dhabi, in the final leg of its journey. Swiss pilot Bertrand Piccard was behind the controls of Solar Impulse 2, which can fly for days on only energy from the sun. “It’s a project for energy, for a better world,” ...

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• 24 July

  Ahold, Delhaize finalise mega-merger on US nod

  

    HAGUE / AFP Dutch retail giant Ahold and Belgian rival Delhaize have announced that they have finalised their mega-merger after US regulatory authorities gave the union the green light. Both groups said they had inked an agreement to take effect from 2201 GMT after the Federal Trade Commission gave its assent. The FTC had earlier said the sale of ...

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• 24 July

  Wizz Air cuts UK growth plans by half

  

    Bloomberg Wizz Air Holdings Plc cut UK capacity-growth plans for the rest of this year by half as Britain’s vote to exit the European Union is set to weigh on fares and demand. Wizz Air will add just two aircraft to serve new UK routes instead of four and won’t increase the number of flights serving existing routes to ...

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• 24 July

  United to undergo mega makeover to boost profits

  

    Bloomberg United Continental Holdings Inc. rose to its highest value in almost three months after Chief Executive Officer Oscar Munoz said he is reviewing all aspects of the airline’s operations in an effort to boost profitability. “It is a top-to-bottom, full-scale view on everything that we do,” Munoz said. “It’s something that we have to do and acknowledge, and ...

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• 24 July

  The bitter taste of splendour

  

    Lisbon / AFP Alfama, one of the oldest and most picturesque areas of Lisbon, is becoming a victim of its own charm. Short-term lets to tourists are driving up rents and driving out old residents. “They want to throw me out to rent my home to tourists,” complained retired salesman Antonio Melo, 70. His house has changed owners four ...

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• 24 July

  Getting ghost orchids to bloom again

  

    Immokalee / AFP Armed with an orange staple gun and dozens of burlap squares entwined with ratty green roots, Mike Kane wades hip-deep into the swamp to restore what generations of thieves have stolen. The ghost orchid. Once abundant in the Florida Everglades, experts say fewer than 2,000 ghost orchids (Dendrophylax lindenii) are left in the state, where it ...

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• 24 July

  Libya oil exports threatened as NOC warns against port deal

  

    Reuters Libya’s hopes to boost crude exports have been dealt a blow after the head of the National Oil Corporation (NOC) objected to a deal between the government and local guards to reopen key ports. In a letter seen by Reuters to U.N. Libya envoy Martin Kobler and a number of oil and diplomatic officials, NOC chairman Mustafa Sanalla ...

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• 24 July

  Saudi-based Artar aims Dubai property market makeover

  

    Emirates Business One of Saudi Arabia’s most prominent real estate development companies believes its first venture in the UAE can help mould the changing face of Dubai residential property over the next few years. Riyadh-based ARTAR Real Estate Development says a big focus on genuine liveability and a payment plan requiring only a 30% investment prior to completion has ...

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• 24 July

  Saudi’s Jarir Marketing proposes lower Q2 dividend

    REUTERS The board of Jarir Marketing , one of Saudi Arabia’s largest retailers by market value, has proposed paying a cash dividend of 1.25 riyals per share for the second quarter of 2016, it said in a statement on Sunday. The company paid shareholders a 1.46 riyal dividend for the corresponding period of 2015.

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