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Bloomberg South African Airways appealed to the government for 5 billion rand ($404 million) to cover immediate costs and warned that it may be unable to make debt repayments next year as the state carrier battles to stay in operation. Chief Executive Officer Vuyani Jarana is at the early stage of a turnaround plan designed to return the carrier to ...

Bloomberg The people have spoken. And they want fried chicken late at night — preferably without leaving the comfort of their homes. Popeyes Louisiana Kitchen, the fast-food chain owned by Restaurant Brands International Inc., posted a surprise gain in same-store sales in the US last quarter. Helping the business? Dinner and post-dinner delivery orders. While the service is only offered ...

Bloomberg Steinhoff International Holdings NV’s former Chief Executive Officer Markus Jooste has been thrown a lifeline by banks as the global retailer he oversaw for 18 years struggles to survive an accounting scandal that happened under his watch. The 57-year-old’s personal investment company Mayfair Holdings Pty Ltd. has been given until the end of the year by lenders to sell ...

Bloomberg Kering SA rose after the luxury company’s white-hot Gucci brand kept up its relentless growth pace at the start of the year, with online sales more than doubling in the first quarter. The Paris-based company’s shares rose as much as 6.1 percent early Wednesday after it said comparable sales grew 37 percent in first quarter. Analysts had expected a ...

Bloomberg Whitbread Plc is betting that its faster-growing Costa Coffee chain will compete more effectively against the likes of Starbucks Corp. once separated from the company’s hotel business. Costa will be spun off from Premier Inn within 24 months, the Dunstable, England-based company said. The planned split follows mounting pressure from activist investors who said the two businesses sit uneasily ...

ABU DHABI / WAM The Committee for Goods and Materials Subject to Import and Export Control started a three-day meeting yesterday with a delegation from the government of the Democratic Republic of Congo (DR Congo), to discuss the means of strengthening their cooperation in regulating the gold trade, according to the best international practices. The meeting was headed by Talal ...

ABU DHABI / WAM UAE’s space programs, including the planned launch of the first Arab probe to Mars by 2021, known as Emirates Mars Mission, are beacons of hope for Arabs to blaze a trail and achieve distinction in this domain, according to Dr Farouk El-Baz, Director of the Centre for Remote Sensing at Boston University, and Member of the ...

ABU DHABI / WAM Masdar and the Costa Rican Electricity Institute (Instituto Costarricense de Electricidad, or ICE) have announced a collaboration to promote renewable energy development. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Eugenia Gutierrez, Member of the Board and Director of ICE, signed a Memorandum of Understanding to share technical knowledge and project experience. The agreement ...

ABU DHABI / WAM Mubadala Investment Company and Mubadala Infrastructure Partners (MIP) agreed to sell their combined equity interest of 50 percent in Abu Dhabi Terminals (ADT) to the remaining shareholder, Abu Dhabi Ports, for an undisclosed amount. ADT is the first commercial port operator in the Emirate of Abu Dhabi. Its core business is to operate and manage a ...

ABU DHABI / WAM Shuaa Capital has announced the completion of its acquisition of Integrated Securities (IS) and Integrated Capital (IC), following final approval by the Emirates Securities and Commodities Authority and the UAE Central Bank. Shuaa’s current multi-pronged business strategy — which came into effect in early 2017 — helped it return to a path of sustained long-term profitability, ...