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Bloomberg Thomas Cook is set to be relaunched by its Chinese owner, who plans to use the 178-year-old British tour operator’s brand on a travel platform targeting European customers. Fosun Tourism Group, the Shanghai-based company that bought Thomas Cook’s trademark following its dramatic collapse in September, will debut the platform in the first half of next year, according to a ...

Bloomberg Delta Air Lines Inc will leave the private-jet charter business after 20 years, selling the struggling operation to Wheels Up Partners in a deal expected to close early next year. The airline will retain an unspecified equity stake in closely held Wheels Up, Delta said. Financial terms weren’t disclosed. Wheels Up Chief Executive Officer Kenny Dichter will continue leading ...

Bloomberg Nestle SA Chief Executive Officer (CEO) Mark Schneider keeps cutting the sugar and fat. The question is what he’ll add to spur growth at the world’s biggest food company. In the CEO’s second-biggest disposal, the Swiss company sold its US ice cream business to a joint venture with private equity firm PAI Partners for $4 billion. That adds the ...

Bloomberg A growing number of sellers on Amazon.com Inc’s platform are finding how painful it can be when Amazon’s absolute power over their small businesses meets a bureaucratic US government system not built for the 21st century. The issue involves trademarks filed with the US Patent and Trademark Office (PTO), a federal agency meant to ensure brands big and small ...

Bloomberg India’s Parliament approved a controversial bill that prevents illegal Muslim migrants from neighbouring countries from receiving citizenship after hours of heated debate among lawmakers and protests in some parts of the country. The bill, which offers amnesty to non-Muslim illegal migrants from three neighbouring countries, was approved in the upper house of Parliament on Wednesday after it secured more ...

ABU DHABI / WAM After seven record years of operational growth, the Abu Dhabi Ports flagship Khalifa Port is set for further expansion, said company executives. Khalifa Port, strategically situated halfway between Abu Dhabi and Dubai, was officially inaugurated on December 12, 2012, by President His Highness Sheikh Khalifa bin Zayed Al Nahyan. Of particular note is the investment of ...

Abu Dhabi / WAM The hotel establishments room revenue index increased by 13.3% in October as compared with same month last year, while the same index increased by 46.0% against September, according to data released by Statistics Centre – Abu Dhabi (SCAD) on Wednesday. The hotel establishments price index increased by 22.8% in October compared with September. The hotel room ...

FUJAIRAH / WAM Refined oil product stocks at the Middle Eastern hub of Fujairah rose 2.5 percent in the week to December 9 on the back of increased gasoline and other light distillate stockpiles, according to data released on Wednesday by the Fujairah Oil Industry Zone, FOIZ. Total inventories rose to 21.337 million barrels during the last week, bringing the ...

Bloomberg Saudi Aramco shares surged after the oil producer’s initial public offering, valuing the company at a record $1.88 trillion in the culmination of a four-year effort by the kingdom to list its crown jewel. The stock jumped the daily 10% limit to 35.20 riyals when trading began at 10:30 am in Riyadh as Aramco board members, Saudi officials and ...

Dubai / WAM The United Nations Framework Convention on Climate Change (UNFCCC), Secretariat has selected Dubai to host the inaugural Mena Climate Week 2020. The first of its kind climate event to be held in the region will coincide with Expo 2020 Dubai. The announcement came during a press conference for the Regional Climate Weeks, which took place on the ...