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MUSCAT / Reuters Oman’s Public Authority for Civil Aviation (PACA) will raise fees charged for air traffic through the sultanate, the authority’s chief executive Mohammed al-Zaabi told the official Oman News Agency. The decision is part of a series of steps by Oman to strengthen state finances as it grapples with a big budget deficit caused by low oil prices. ...

Bloomberg European planemaker Airbus has unveiled a new cabin brand designed to help cost-conscious airlines carry more passengers on long-haul flights while avoiding additional discomfort. The move reflects the rivalry between major planemakers to jazz up interiors and give airlines more flexibility on cabins as the industry struggles to capture more traffic without angering passengers. Airbus said the “Airspace by ...

Rome / Reuters Italy’s luxury fashion house Versace said that its revenues in 2015 grew 17.5 percent, thanks largely to sales of its accessories and its cheekier second line, Versus. While the brand’s revenues grew by 645 million euros ($720 million), its retail sales were 28.9 percent higher at 400.7 million euros and income from e-commerce was up 31.2 percent. ...

Bloomberg Virgin America’s IPO was opportune. Selling now would continue that streak of good timing. The $1.5 billion US airline backed by billionaire Richard Branson is working with an adviser to evaluate a full or partial sale after receiving takeover interest. It would be a quick turnaround for a company that went public less than 18 months ago. Virgin soared ...

Sunaina Rana / EMIRATES BUSINESS Aiming to make a foothold in the UAE juice market, Juice in Time is an original and innovative juicing system that originated in Brazil, which helps to make natural fruit juices in offices, cafeterias or at home without a blender, sink, dishes or running water. The Juice in Time system is a hassle-free solution that ...

DUBAI / EMIRATES BUSINESS Milkcow, a trendy South Korean cafe chain with 50 branches around the world, launched its first branch in the Middle East region in the vibrant JBR district within Trident Grand Mall in January 2016. Catering to the buzzing local community they will be the first of their kind to offer a destination ice cream parlour and ...

Dubai / WAM The Second Ministerial Economic and Business Conference (EBC II), a flagship programme of the Indian Ocean Rim Association (IORA), will be held in Dubai from April 11-13 in conjunction with the Annual Investment Meeting (AIM) 2016. To be held under the theme of ‘SMEs and Innovation: Investing in a Sustainable Future’, EBC II will recognize the prospects ...

Dubai / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority, on Saturday announced that total investments in Dubai Silicon Oasis amounted to AED3.6bn in 2015. Projects carried out by the DSOA accounted for half of all investments, while foreign investments at the hi-tech park contributed to the remaining half. Sheikh Ahmed bin Saeed, who ...

ABU DHABI / WAM Throughout last year, Abu Dhabi General Services Company ‘Musanada’ delivered 23 development projects with a total cost of approximately AED11.2 billion throughout the Emirate of Abu Dhabi across various sectors including housing, education, buildings, infrastructure, roads, healthcare, etc. Aimed to serve and achieve the best for the Abu Dhabi community, these projects would keep pace with ...

Dubai / WAM Dubai Electricity and Water Authority (DEWA) plans to build 64 132/11 kilovolt (kV) substations over the next three years, which will cost AED 6.7 bn, in cooperation with various developers in the Emirate. These new substations will be linked to existing electricity networks to enhance their capacity and efficiency. DEWA is committed to improving Dubai’s electricity and ...