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Bloomberg Irish banks paid out over a half a billion euros to customers caught in a mortgage overcharging scandal, according to the nation’s central bank governor. Lenders handed 580 million euros to affected customers by the end of August, an increase of about 120 million euros since the end of March, central bank Governor Philip Lane was expected to say …

Bloomberg Travellers probably won’t be rushing to praise the airlines for it, but industry investors should find a lot to love in an innovation that offers just a smidgen more wiggle room for twice the money. As budget coach seats become more cramped, and business class gets more luxurious and pricey, demand has swelled for an in-between option that will …

Bloomberg Mohammed Nor Md Yusof, chairman of Malaysia Airlines Bhd., is planning to leave the state-owned carrier by the end of this year, people familiar with the matter said. Mohammed Nor, who was named chairman of Malaysian pilgrims fund Lembaga Tabung Haji in July, plans to focus on that role after leaving the airline, said one of the people, who …

Bloomberg Boeing Co. says the age of air taxis is getting closer. A prototype will be in the air next year, Chief Executive Officer Dennis Muilenburg said. The planemaker is also working with regulators to develop a traffic-management system for the aircraft in five years. “Think about a future in which you will have three-dimensional highways to relieve traffic congestion,’’ …

Abu Dhabi / Emirates Business­­­­­ Etihad Airways is reinforcing its partnership with leading wildlife charity, Born Free, by refreshing its popular ‘Etihad Explorers’ children’s packs, which now include an activity booklet developed with Born Free. The aim is to provide the airline’s younger guests with a greater understanding of animal welfare and how they can play a part in reducing …

ABU DHABI / WAM UAE Federal ministries have reported total revenues of AED39 billion during H1 2018, with implementation at 75.9 percent of the total actual budget of AED51.388 billion, according to the general budget implementation financial perfor- mance report released by the Ministry of Finance. Expenditures amounted to AED33.2 billion, with the ministries recording 64.6 percent of implementation, achieving …

ABU DHABI / WAM Etihad Airways has launched a contemporary airport lounge brand in partnership with No1 Lounges. To be known as ‘The House’, the project is the result of a unique collaboration between the airline and award-winning lounge provider, which will operate the new brand. The project begins at London Heathrow, where Etihad Airways’ lounge will be rebra-nded ‘The …

Dubai / Emirates Business Taking advantage of the region’s largest gathering of real estate professionals, developers took to the halls of the Dubai World Trade Centre to announce and showcase projects worth billions of dirhams. Out of the 300 companies at Cityscape Global, five local developers have exhibited projects worth a total AED38.7 billion ($10.54bn) making up a large portion of …

Bloomberg SoftBank Corp. has pledged to provide free solar power from its projects in International Solar Alliance (ISA) countries after the developments recoup their initial investments. Chief Executive Officer Masayoshi Son told a conference on Wednesday in New Delhi that power from the projects will be free after the end of the initial 25-year power purchase agreements. The expected life of …

Bloomberg Oil steadied near the highest level in almost four years as fears of a supply crunch outweighed expectations for an increase in American crude inventories. Futures were trading around $75.50 a barrel in New York, up around 0.4 percent. Supply losses from Iran to Venezuela continued to rattle markets, boosting volatility and driving prices higher. The ongoing outlook for …