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Bloomberg Kenya Airways Plc could cozy up to rival South African Airways as the embattled companies seek to narrow the gap with the continent’s biggest carrier, Ethiopian Airlines Enterprise. The Nairobi-based airline, sub-Saharan Africa’s third largest by passenger traffic, views a closer relationship with SAA, the No. 2, as a possibility amid turnaround efforts at the unprofitable operators, Chief Executive ...

Bloomberg Airlines in the Philippines are under pressure to raise ticket prices to offset rising fuel costs and the peso’s plunge to an almost 12-year low, risking lower demand from travelers also hurt by the currency’s decline. “We will have to adjust prices accordingly,” said Lance Gokongwei, president of Cebu Air Inc., which owns the nation’s largest budget carrier. Cebu ...

Dubai / Emirates Business KitKat announced the launch of the first of a kind KitKat Mini Moments Desserts in the Middle East featuring four unique flavours inspired from some of the most renowned desserts in the world. The new mini chocolate bars are produced locally in the UAE with a mini portion, same indulgent taste and sourced from 100% certified ...

Bloomberg With Amazon now gobbling up more than 40 percent of all online spending in the US, that’s left traditional retailers scrambling for the rest. Walmart Inc., Target Corp. and Best Buy Co. have all made big investments in recent years in e-commerce — sprucing up websites, offering more delivery options and making acquisitions like Walmart’s $16 billion deal for ...

ABU DHABI / WAM The Abu Dhabi Business Centre of the Department of Economic Development (DED) has registered 2,935 licences during first quarter of 2018, an increase of 26% compared to the same quarter last year, which only saw 2,328 new licenses, according to the report issued for the first quarter of 2018. The report monitors commercial activities in Abu ...

FUJAIRAH / WAM The total foreign trade of Fujairah during 2017 was valued at AED14.377 billion, 5.9 percent higher than the 2016 figure of AED13.577 billion, according to the 2017 Yearbook issued by the Fujairah Statistical Centre. Direct foreign trade rose from AED5.995 billion in 2016 to AED6.372 billion in 2017, an increase of 6.3 percent. Of this, imports accounted ...

Bloomberg OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April, when their collective production cuts achi- eved a key goal of draining the surplus in global stockpiles. The excess in oil inventories, which has weighed on prices for three years, plun-ged in April to less than the five-year average for stockpiles in developed nations, ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) received a delegation from the Finnish company, Valmet in the renewable energy sector. Saeed Mohammed Al Tayer welcomed the Finnish delegation and discussed enhancing cooperation and exchanging best international experiences and expertise between Dewaand Finnish companies in renewable, clean energy and environmental sustainability.

ABU DHABI / WAM The Government of the UAE and the Government of the Republic of Kiribati initiated an Air Services Agreement (ASA). Omar bin Ghaleb, Deputy Director-General of the General Civil Aviation Authority (GCAA) of UAE, and Willie Tokataake, Ministry of Information, Communication, Transport and Tourism Development, of Kiribati signed the MoU. Saif Mohammed Al Suwaidi, GCAA Director-General said, ...

ABU DHABI / SINGAPORE/ WAM Abu Dhabi Global Market (ADGM), and KPMG Lower Gulf Limited (KPMG LG), have announced the launch of the second edition of the FinTech Abu Dhabi Innovation Challenge. The inaugural Innovation Challenge, organised last year, generated strong interest among regional financial institutions about the potential benefits of collaborating with FinTech start-ups. As a result, this year’s ...