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Cape Town / Bloomberg South African Airways (SAA) will cancel a code- sharing agreement with Etihad Airways PJSC as the unprofitable carrier prepares to end direct flights between its home base in Johannesburg and Abu Dhabi, less than a year after introducing the route. SAA and Etihad signed a route-sharing partnership in May 2013 before expanding the alliance with additional ...

Bloomberg Airlines are extending leases on gas- guzzling four-engine planes on a bet that fuel prices will stay low for as long as the next three years, the world’s biggest airplane lessor said on Thursday. “We’re getting a boost we did not think we would get,” AerCap Holdings NV Chief Executive Officer Aengus Kelly said in an interview on Thursday ...

Canberra / Bloomberg It’s tough to overstate the tide of troubles that faced Alan Joyce, the chief executive officer of Qantas Airways Ltd., just two years ago. Losses had ballooned amid a capacity war with Virgin Australia Holdings Ltd. and its foreign backers. Australia’s government wouldn’t guarantee Qantas’s debt, which was junk- rated at the time. The airline’s share price ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 1.04% to close at 4210.71 points. Accordingly the Market Capitalization has gained AED7 Billion attaining AED683.03 Billion. A total of 0.84 Billion Shares were traded with a total value of AED0.99 Billion during the trading session of 18-02-2016 through 9380 transactions. The number of companies which has been traded ...

Hong Kong / AFP Asian stocks mostly joined a global rally on Thursday with a surge in oil prices providing some much-needed confidence as key producer Iran praised an output freeze by Saudi Arabia and Russia. Crude, which last week flirted with 13-year lows, extended a surge that began Friday as dealers grow hopeful of an easing to the overproduction ...

New York / AFP Shares of oil companies and miners surged on Wednesday behind higher commodities prices as US stocks notched gains for the third straight session. The Dow Jones Industrial Average jumped 257.42 points (1.59 percent) to 16,453.83. The broad-based S&P 500 rose 31.24 (1.65 percent) to 1,926.82, while the tech-rich Nasdaq Composite Index gained 98.11 (2.21 percent) at ...

Our Correspondent EMIRATES BUSINESS With his strong leadership skills, Usman Khalid, Founder and CEO, Centric, has been leading the Digital Marketing company since 2011. Today, he is one of the most recognized leaders in the Middle East and has brought Centric to the forefront in the digital media landscape with an aggregate yearly growth of over 400 percent. Prior to ...

Our Correspondent / Emirates Business MumMum restaurant was established with the concept that healthy nutrition for children should be a blend of both delicious and fun. Opened in Sharjah in 2012, MumMum is an innovative, healthy fast food family restaurant that serves an array of meals specially created and prepared to be packed with as much flavour as they are ...

ABU DHABI / WAM The UAE Ministry of Economy has said that the value of the UAE’s non-oil foreign trade reached AED1.75 trillion (US$476.4 billion) in 2015, a growth of up to 10 percent from 2014, according to its report. The figures in the first half of 2015 are positive indicators for the UAE’s foreign trade, including direct trade. In ...

Tehran / AFP Iran’s Oil Minister Bijan Zanganeh said on Wednesday his country supported steps taken by other major producers that could stabilise the market and lead to price hikes for crude. But after a meeting with his Iraqi, Venezuelan and Qatari counterparts in Tehran, a day after Saudi Arabia, Russia and several other big producers agreed to freeze output, ...