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Bloomberg American Tire Distributors (ATD) Inc., seeking to bolster itself after two of the biggest brand names pulled their business, said other suppliers will fill the gap and that it’s already posted sales gains in the first half of this year. ATD, North America’s largest tire distributor, had “strong success” in converting to other suppliers and has a “robust pipeline ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have welcomed the milestone visit of President Xi Jinping of China, at the head of ...

Cairo / Emirates Business Emirates unveiled its 42nd dedicated lounge across its global network at Cairo International Airport (CAI). The lounge is now open to Emirates First Class and Business Class customers as well as Platinum and Gold members of Skywards, the airline’s loyalty programme. Reflecting the airline’s ongoing commitment to Egypt, the Emirates Lounge in Cairo represents a $ ...

Abu Dhabi / WAM The UAE is undisputedly the most important stop on China’s 21st Century Maritime Silk Road Initiative, thanks to its world-class infrastructure and the top rankings in the world’s quality indices. The Industrial and Commercial Bank of China, one of the largest financial establishments in the world with estimated assets of $2.3 trillion, has already set its ...

Sharjah / WAM Sharjah Airport has announced that it registered a growth of 4.34 percent in passenger movement during the first half of 2018, with the number of passengers increasing to more than 5.731 million, compared with 5.493 million passengers in the same period of 2017. The increase is a result of newly expanded service offerings for both passengers and ...

Bloomberg Elliott Management Corp. said it was seeking compensation for at least $770 million in damages from South Korea over how its former administration intervened in the merger of Samsung C&T Corp. and Cheil Industries Inc. in 2015. Billionaire Paul Singer’s New York-based hedge fund had submitted the dispute for arbitration and urged the government to pay the damages in ...

Bloomberg Apple Inc. has lost a trio of pivotal executives in India in recent weeks as it struggles to boost iPhone sales in the world’s fastest-growing major smartphone market, people familiar with the matter say. Among the executives who’ve departed are its national sales and distribution chief, the head of its commercial channels and mid-market business, and the head of ...

Bloomberg The European Commission proposed ways to resolve the Trump administration’s concerns over the functioning of the World Trade Organization (WTO), in a bid to avert a looming crisis that could undermine the WTO’s ability to arbitrate trade disputes. “The dispute settlement function of the WTO is at grave danger, and swift action by members is needed to preserve it,” ...

Bloomberg The US Commerce Department has lifted the ban on American firms selling products to China’s ZTE Corp., removing the final hurdle for the company to start rebuilding its business. The ban was removed after ZTE paid the final tranche of a $1.4 billion penalty by placing $400 million in escrow at a US bank, the department said. That sum ...

Bloomberg Walt Disney Co.’s $71 billion deal with 21st Century Fox Inc. won the endorsement of influential proxy advisers Institutional Shareholder Services Inc. and Glass Lewis & Co., giving the entertainment giant another edge over rival suitor Comcast Corp. Both firms recommended that Fox shareholders vote in favor of the transaction during a July 27 investor meeting, with Glass Lewis ...