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Bloomberg Commercial International Bank Egypt SAE approved an offer by billionaire Naguib Sawiris’ Orascom Telecom Media And Technology Holding SAE to buy its investment-banking unit CI Capital. Orascom Telecom made a non-binding offer to buy CI Capital for 924 million Egyptian pounds ($118 million), Egypt’s biggest publicly-traded lender said in a filing to the country’s bourse on Monday. The deal ...

Bloomberg Saudi Arabia is easing rules on bank lending to stimulate growth in the largest Arab economy, two people with knowledge of the matter said. Banks were told they can lend the equivalent of 90 percent of their deposits, up from an earlier limit of 85 percent, by the Saudi Arabian Monetary Agency on Sunday, the people said, asking not ...

ABU DHABI / EMIRATES BUSINESS Habib Bank Limited ( HBL ) UAE has opened its new Abu Dhabi Main Branch at the Landmark Tower on Corniche Road in Abu Dhabi. The branch was inaugurated by H.E. Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development, Mr. Sultan Ali Allana, Chairman of HBL , Mr. Mubashar Maqbool, Country Manager – ...

Singapore/ Bloomberg Asia’s biggest airshow kicks off in Singapore this week amid a rout in the global financial markets. You can’t tell any of that looking at plane orders for Airbus Group SE and Boeing Co. The heydays of multi-billion orders from India and nations in Southeast Asia is giving way to concerns about airlines in the region delaying delivery ...

DUBAI / WAM Air freight traffic at Dubai’s second airport, Dubai World Central (DWC), rose 7.7 percent during 2015, according to the year-end traffic report issued by operator Dubai Airports. Air cargo volumes for the year totalled 888,714 tonnes, up 7.7 percent from 824,933 tonnes recorded during 2014. Year-on-year cargo volumes increased despite a dip in fourth quarter traffic when ...

Manila / Bloomberg Philippine Airlines is considering making an announcement of new plane orders as plane makers Airbus Group SE and Boeing Co. seek to revive sales in a region battling overcapacity. The flag carrier is considering Wednesday for its announcement, President Jaime Bautista said in an interview. Bautista declined to comment on what model the carrier has chosen. The ...

Kuala Lumpur / Bloomberg Malaysia Airlines Bhd. is on track to return to profitability by 2018, helped by job cuts and route changes undertaken as the company reeled from two high-profile plane crashes in 2014. The airline’s restructuring effort is proceeding as planned and the company is finished laying off employees, Mueller said in an interview on Monday with Bloomberg ...

SINGAPORE/ AFP Civilian drones are increasingly becoming a “real and growing threat” to the safety of commercial aviation, industry group IATA warned, calling for regulations to be put in place before any serious accidents occur. Tony Tyler, director-general of the International Air Transport Association (IATA), said the threat posed by unmanned aerial vehicles is still evolving as people are only ...

Bloomberg Last year was one of the safest for airlines with the number of fatal accidents falling by two thirds – if you excluded more than 300 deaths resulting from a pilot suicide and possible terror attack. There were four fatal accidents, all involving turboprop aircraft, in 2015, down from 12 a year earlier, the International Air Transport Association (IATA) ...

Our Correspondent EMIRATES BUSINESS Dubai is by far the epicenter of cultural exchange, landmarks that can be seen from space and a place where the world’s cuisine gathers in a gastronomical extravaganza. As the world braces for the showdown leading to Expo 2020 which is set to take place in Dubai, the construction industry is at a frenzy creating new ...