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Bloomberg Kenya Airways Ltd.’s court-ordered reinstatement of its former finance director threatens to undermine the newly appointed chief executive officer’s bid to overhaul the debt-laden carrier. Alex Mbugua, who was dismissed in January 2016, won a High Court bid to be allowed to return to work or be paid three years’ salary plus compensation. His reinstatement was ordered four days ...

Dubai / WAM Emaar Properties on Sunday reported a significant year-on-year increase in both profits and Dubai property sales in the period from January until the end of September. The property recorded AED4.347 billion ($1.184 billion) in net profits in the first nine months of 2017, up 20 percent from AED3.620 billion ($986 million) during the corresponding period of 2016. ...

ABU DHABI / WAM A total of AED13.2 billion worth of purchase and sales transactions in shares of First Abu Dhabi Bank (FAB) have been conducted since the merger of the National Bank of Abu Dhabi and First Gulf Bank in April 2017 to create one of the region’s largest banking entities. FAB deals accounted for 17.3 percent of total ...

Abu Dhabi / WAM Business France, the national agency supporting the international development of the French economy, is once again organising a French collective pavilion at ADIPEC, where some 40 companies representative of the industry’s various sectors will be presenting their products, services and expertise to local professionals with a view to developing or strengthening partnerships. With major reserves (48% ...

Abu Dhabi / Emirates Business Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, reported strong financial results by achieving a combined net profit of AED52 million (Policyholders and Shareholders before Qard Hasan) and an underwriting profit of AED41.4 million as at end ...

DUBAI / WAM The UAE Government has launched a pioneering national programme to train the world’s first generation of Ambassadors of the Future, announced Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future and Co-Chair of the Annual Meeting of the Global Future Councils (AMGFC), as the event held its second edition in Madinat Jumeirah on November 11-12. ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Sunday inaugurated the 12th edition of the Dubai Air Show. Also present during the inauguration were HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman ...

Abu Dhabi / Emirates Business Twenty-six of the world’s leading oil and gas industry leaders gathered in Abu Dhabi on Sunday to discuss the evolving energy landscape amid shifting dynamics of supply and demand, at the second Abu Dhabi CEO Roundtable. The senior executives were invited to the roundtable, held at ADNOC’s Corporate headquarters in the UAE capital, by ADNOC. ...

Sharjah / Emirates Business Sharjah International Book Fair (SIBF) concluded on a record-breaking note, with the 36th edition of the world’s third largest book fair attracting 2.38 million visitors over its 11-day run at Expo Centre Sharjah. The figure compares to the 2.31 million visitors that attended last year. SIBF 2017 featured more than 2,600 events and the participation of ...

Abu Dhabi / Emirates Business The UAE capital is set to welcome thousands of oil and gas professionals, industry leaders, and decision makers as the world’s most influential oil and gas event, the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), begins its 20th edition on Monday. Held under the theme ‘Forging Ties, Driving Growth’, ADIPEC’s 20th edition will be ...