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Bloomberg Deutsche Bank AG Chairman Paul Achleitner is facing intense pressure to clarify the future of Chief Executive Officer John Cryan within days, according to a person familiar with the inside workings of the bank. Supervisory board members will discuss the situation in an “update call” scheduled by Achleitner for Sunday evening, said two people familiar with the matter, who ...

Bloomberg American Airlines Group Inc. ordered 47 Boeing Co. 787 Dreamliners for long-range flying, expanding its fleet of the advanced carbon-composite jetliners and dealing a blow to Airbus SE’s ambitions to expand its wide-body aircraft sales in the US. In a related move, American cancelled an order for 22 of Airbus’s twin-aisle A350 jets, a purchase placed by predecessor carrier ...

Bloomberg IndiGo, the only airline to have publicly shown interest in buying parts of Air India Ltd., said it’s no longer keen on the state asset, dealing a blow to Prime Minister Narendra Modi’s most high-profile privatisation plan. India’s biggest airline, operated by InterGlobe Aviation Ltd., said it doesn’t have the wherewithal to acquire Air India in its entirety and ...

Bloomberg China’s proposed aircraft tariffs take aim at Boeing Co.’s main source of profit, the 737 jetliner family, while exempting a popular upgraded model needed to fuel the rapid growth of the country’s airlines. Boeing’s best-selling plane, the 737 Max 8, would narrowly escape the retaliatory measure, based on the weight limits outlined by the Chinese government, Douglas Harned, an ...

Bloomberg PT Mitra Adiperkasa, the Indonesian operator of global brands including Starbucks, Zara as well as Marks & Spencer, is predicting that a recovery in consumer spending will sustain its highest revenue growth in three years. The retailer forecasts a revenue increase of 15 percent for a second year as consumers splurge more on Inditex SA’s Zara-branded clothes and Tumi ...

MANAMA / Reuters A new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom’s biggest ever find, Bahrain’s oil minister said. Bahrain said it had discovered extensive tight oil and deep gas resources off the west coast of the kingdom. Independent appraisals by US-based oil consultants DeGolyer and MacNaughton ...

SHARJAH / WAM Rexton Technologies has announced that it will open the largest LED light manufacturing facility in the Middle East and North Africa (MENA) region at the Sharjah Airport International Free Zone (SAIF Zone). The organisation will also launch a state of the art laboratory that specialises in LED light technologies within the facility. The two new facilities, which ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) announced that it has signed an agreement to connect its services to the Address Hotel at JBR, Marsa Dubai, with a total capacity of 6,500 Refrigeration Tonnes (RT). Empower noted that it will start delivering its district cooling services in July 2019. “We are committed to providing highly-efficient district cooling services, ...

LONDON / Reuters OPEC oil output fell in March to an 11-month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, a Reuters survey found, sending compliance with a supply-cutting deal to another record. The Organization of the Petroleum Exporting Countries pumped 32.19 million barrels per day last month, the survey found, down 90,000 ...

Abu Dhabi / Emirates Business In collaboration with more than twenty business councils from around the world, Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, brought together more than 500 companies, investors, officials and diplomats to discuss investment opportunities in KIZAD and Khalifa Port Free Trade Zone (KPFTZ), the largest free zone in the Middle East. ...