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Bloomberg Airbus SE could opt to drop the role of commercial aviation chief when incumbent Guillaume Faury is promoted to lead the entire company next year, simplifying the group’s structure amid an ongoing fraud probe. The move would concentrate power in the hands of Faury as chief executive officer and reinforce the idea that the jetliners arm — where most ...

Bloomberg Thousands of Dolce & Gabbana goods have been pulled from China’s biggest shopping websites after the Italian fashion house’s marketing went off the rails in a country that’s driving the industry’s growth. Calls for a boycott against the label gained traction after a video campaign showed a Chinese model struggling to eat spaghetti with chopsticks — a depiction that ...

ABU DHABI / WAM Dr Hatem Ali, Representative of the Deputy Secretary-General of the United Nations (UN) and Chief Executive Officer of the United Nations Office on Drugs and Crime (UNODC) in Gulf Cooperation Council (GCC) Countries, described the UAE as a leading international model of developing minds and youth empowerment. In an interview with the Emirates News Agency (WAM), ...

Bloomberg Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification. The world’s biggest oil exporter is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion ...

ABU DHABI / WAM The Abu Dhabi Government and the Abu Dhabi National Oil Company (Adnoc) have added Wintershall Holding GmbH to the Ghasha ultra-sour gas mega-project with a 10 percent stake. The Ghasha concession consists of the Hail, Ghasha, Dalma and other offshore sour gas fields, including Nasr, SARB and Mubarraz. Wintershall will contribute 10 percent of the project ...

DUBAI / WAM A total of 190 countries have confirmed their participation in Expo 2020 Dubai, confirming its position as a truly global destination and bringing to life the World Expo’s theme of ‘connecting minds, creating the future’. With just under 700 days to go until Expo 2020’s opening ceremony, the milestone means that Expo has already surpassed the 180-nation ...

Abu Dhabi / WAM The assets of UAE conventional banks (CB) amounted to around AED2.268 trillion, accounting for 80 percent of total banking assets by the end of October, according to the statistics released on Monday by the Central Bank of UAE on the activity of CB and Sharia-compliant banks. According to the figures, the total assets of the conventional ...

ABU DHABI / WAM Al Hilal Bank is the first Islamic bank in the world to leverage blockchain technology for the resale and settlement of an Islamic sukuk. Blockchain was used to transact a secondary market deal in Al Hilal Bank’s $500 million senior sukuk maturing in September 2023. This was the first time that block-chain has been used worldwide ...

DUBAI / WAM HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, officially inaugurated the 39th edition of The Big 5 International Building and Construction Show on Monday, which will run until November 29 at the Dubai World Trade Centre. This year, five exhibitions run as part of The Big 5, creating one mega ...

DUBAI / Emirates Business Vincitore Real Estate Development along with Valor Real Estate and Nerveen Al Jabban and under the patronage of His Highness Sheikh Saeed bin Tahnoun bin Mohammed Al Nahyan organised Dubai’s first Haute Boulevard lifestyle event in Dubai. The event also saw attendance by Vijay Doshi, Managing Director, Vincitore Real Estate Development and Ahmed Kilani, Managing Partner ...