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Bloomberg The losses that drove Sears Holdings Corp. into bankruptcy could end up being a valuable multi-billion dollar asset because of tax breaks — especially for its most notable creditor and Chairman, Eddie Lampert. As of the retailer’s bankruptcy on October 15, Sears estimated it had net operating losses it could use to offset $5 billion of future taxable income, ...

Bloomberg Southwest Airlines Co. tumbled the most in two years as Wall Street worried that expenses are getting out of hand. Investments in new technology and airport facilities haven’t paid off as much as expected, said Chief Executive Officer Gary Kelly. Costs for each seat flown a mile, a key measure of efficiency, will climb at least 3 percent in ...

ABU DHABI / WAM Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO), in a message on World Polio Day, has thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his continuous efforts to achieve polio-free world. HH Sheikh Mohamed bin Zayed in a ...

Emirates Business Hyperloop Transportation Technologies announced appointment of leading design and engineering firm, Dar Al-Handasah (founding member of the Dar Group), to assist in bringing the Abu Dhabi commercial system to reality. Dar Al-Handasah joins the project as design lead and as the latest investor in HyperloopTT. Construction of the Hyperloop commercial track as well as HyperloopTT’s XO Square Innovation ...

DUBAI / Emirates Business Two million Indian farmers will benefit from the India-UAE food corridor project, which will also create an additional 200,000 jobs across India due to cumulative investments of more than $5 billion (AED18.35 billion) by the UAE in the next three years, said His Excellency Abdulla Ahmed Al Saleh, Undersecretary for Foreign Trade and Industry at the ...

DUBAI / WAM The Ministry of Climate Change and Environment (MOCCAE) on Wednesday launched ‘UAE Green Dashboard’, an online open data platform that allows the public to access statistical data assessments of the country’s overall progress in its transition into a green economy. Dr Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, announced the initiative during the opening ...

DUBAI / WAM Enoc Group announced that construction of its 16.2km jet fuel pipeline linking its storage terminals in Jebel Ali to Al Maktoum International Airport in Dubai South has exceeded 20 percent. The announcement was made during 20th Water, Energy, Tech- nology and Environment Exhibition (WETEX 2018). The pipeline is scheduled to be operational in 2020 Q1, in time ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) announced launch of online chatbot platform ‘Jawab,’ which is designed, developed to effectively respond directly and automatically to enquir- ies from exhibitors, organisers and visitors on all event-related aspects, including diverse range of services provided by Adnec. With this launch, Adnec becomes the first venue within the exhibitions and conferences ...

Bloomberg Saudi Aramco’s chief executive officer said he has bigger ambitions in petrochemicals beyond the planned $70 billion acquisition of a strategic stake in local company Sabic, touting plastics as a key hedge against an electric-car driven slowdown in global oil demand growth. “We still have to do more,” Amin Nasser, chief executive officer of state-owned Aramco, said in an ...

Dubai / WAM The Emirates Centre for Transport and Leasing, a subsidiary of Emirates Transport (ET) has signed a number of new and renewed contracts, worth AED40 million during the third quarter of 2018. The contracts were signed with both government and private sectors for terms spanning between three to five years. Tariq AlSedawi, manager of the Centre, said: “With ...