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Bloomberg Singapore Airlines Ltd. reported an 81 percent plunge in second-quarter profit as higher fuel costs weighed on earnings. Net income for the three months through September fell to S$56.4 million ($41 million) from S$293.3 million a year earlier. Sales rose 5.6 percent to S$4.06 billion. The premium Asian carrier joins others such as Deutsche Lufthansa AG and Air China ...

Bloomberg Options traders who bet against Zurich airport have booked a 10,000 percent windfall as proposed modifications to aviation charges send shares of the hub tumbling. Flughafen Zurich AG, as the airport company is known, dropped the most since 2003 after saying measures unveiled by the national regulator would reduce its aviation revenue by $148 million or 25 percent. The ...

Bloomberg Premier Foods Plc’s chief executive officer will step down as the maker of Bisto gravy and Mr. Kipling snacks weighs asset sales following pressure from activist hedge fund Oasis Management Co. CEO Gavin Darby will leave on January 31, the company said on Tuesday in a statement. Premier Foods also said it is in discussions with potential buyers of ...

ABU DHABI / WAM Aldar Properties on Monday announced appointment of Al Rakha Contracting and General Transport LLC as the main contractor for infrastructure buildings and early works package for the first neighbourhood in the second phase of Alghadeer — an AED10 billion mega development, situated close to the border of Abu Dhabi and Dubai. The AED335 million ($91.2 million) ...

ABU DHABI / WAM Mubadala Petroleum announced that it has agreed with Eni to purchase a 20 percent participating interest from Eni’s share in the Nour North Sinai Offshore Area ‘Nour’ concession, an offshore exploration block in Egypt. Eni is the operator of the concession through its subsidiary (IEOC). In the concession, which is in participation with Egyptian Natural Gas ...

DUBAI / WAM Sultan Ahmed bin Sulayem, Group Chairman and CEO of global trade enabler DP World, rang the market-opening bell on Monday to celebrate the multi-currency listing on Nasdaq Dubai of four debt listings. The four listings together amount to a value of about $3.3 billion. The listings comprise a 10-year $1 billion and three conventional bonds of 30 ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) signed, on Monday, a framework agreement with Saudi Aramco, to explore potential opportunities for collaboration in the natural gas and liquefied natural gas (LNG) sectors. The cooperation brings together two of the world’s leading energy producers from the Arabian Gulf to work together in an area of strategic importance ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Barham Ahmed Salih of Iraq discussed bilateral relations between the UAE and Iraq and means of developing them across various sectors. During the meeting, held at the Presidential Palace in Abu Dhabi, ...

Abu Dhabi / WAM Total is in talks with the Abu Dhabi National Oil Company (Adnoc) to develop the Abu Dhabi petrochemicals and downstream sector, according to Hatem Nuseibeh, President Total E&P UAE- Total Country Chair in the UAE. “We are a company for whom Adnoc is very important. Adnoc has been going through huge changes over the past period ...

Dubai / WAM As part of the third Annual Meeting of the Global Future Councils, the Global Future Council on Virtual and Augmented Reality explored the opportunities and challenges of virtual reality with the prevalence of future technologies in different aspects of our daily life, where electronic devices and innovations became an integral part of it. The participants discussed the ...