Bloomberg Germany will step in if gas-storage operators fail to fill facilities sufficiently to comply with new requirements, as the government takes a tougher line to secure supplies for next winter. Under the new rules — approved by the upper house of parliament on Friday and due to take effect from May 1 — operators must fill storage facilities ...
Read More »Kenya Air, SAA plan investor search for pan-African carrier
Bloomberg Kenya Airways Plc and South African Airways are planning a series of investor roadshows to help find a financial backer for a combined airline group they aim to create next year. The campaign to attract a majority investor for a holding company to be modeled on British Airways and Iberia owner IAG SA is likely to start before ...
Read More »DHL jet skids off runway, breaks up in Costa Rica
Bloomberg A Boeing Co 757 cargo jet operated by DHL broke in two after skidding off the runway at Juan Santamaria International airport in Costa Rica. The crew reported hydraulic problems with the 22-year-old aircraft after takeoff and made an emergency landing, according to a statement from DHL. The two pilots escaped without serious injury and the company has launched ...
Read More »Archer Aviation sues Boeing over smears in air taxi wars
Bloomberg Archer Aviation Inc sued Boeing Co, in an escalation of a feud over technology in the race to develop flying taxis. Archer claims that it has been the victim of a smear campaign by Boeing, via its joint venture with Google co-founder Larry Page. Wisk Aero LLC, Boeing’s joint venture with Page’s Kitty Hawk Corp, sought “to halt ...
Read More »Austin airport’s low fuel issue is Texas capital’s growing pain
Bloomberg The Austin airport doesn’t have enough fuel for its flights, but plans to build new storage tanks are running into stiff opposition from neighbours in Texas’s booming capital. For homeowners trying to preserve Austin in the face of exploding growth, the airport fight is the latest in a series of squabbles over the fate of the city. A ...
Read More »Thailand eases testing rules for visitors to boost tourism
Bloomberg Thailand plans to scrap a mandatory polymerase chain reaction test on arrival for foreign visitors from next month as the Southeast Asian nation steps up efforts to attract more tourists amid a rebound in global travel. The RT-PCR tests will be replaced with antigen tests at the airports, Deputy Health Minister Satit Pitutecha told reporters in Bangkok after a ...
Read More »Nestle defends itself over ‘Russia presence’
Bloomberg Nestle SA said access to food is a basic right and a key value for the world’s largest food company following criticism the Swiss firm didn’t scale down its Russian activities quickly enough after the war in Ukraine started. After pressure built up, Nestle said it suspended the vast majority of manufacturing in Russia while maintaining the sale ...
Read More »India’s RBI signals policy shift with focus on liquidity, prices
Bloomberg India’s central bank signalled a shift in policy focus as it ramped up efforts to mop up excess liquidity in the banking system and raised its inflation forecasts, sending bond yields higher. While the Reserve Bank of India’s (RBI) rate-setting panel decided to hold rates and keep its accommodative stance, it also voted unanimously to focus on “withdrawal ...
Read More »BNP reaches work from home deal with 132,000 employees
Bloomberg BNP Paribas SA reached one of the most comprehensive work-from-home deals among major banks, with more than 132,000 employees given the option of doing their jobs from home for up to half the week. Staff in 22 countries across Europe can decide to work from home every week for as much as 2.5 days or to adopt a ...
Read More »Credit Agricole takes 9.2% stake in Italy’s Banco BPM
Bloomberg Credit Agricole SA acquired a minority stake in Italy’s Banco BPM SpA, in a deal that may spark speculation it is aiming for a full takeover. The French bank said it has built a 9.18% holding in Banco BPM. It’s not applied for authorization from regulators to increase its holding above 10%, according to a statement. Consolidation of ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.