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Bloomberg Halfway through Tidjane Thiam’s three-year restructuring plan, Credit Suisse Group AG is gaining traction. Switzerland’s second-largest lender reported a 78 percent increase in second-quarter profit, to 303 million francs ($312 million), as clients added about 11 billion francs in new money to its main wealth management units. Lower expenses lifted profit at the global markets trading business, still the ...

Bloomberg Delta Air Lines Inc., China Eastern Airlines Corp. and Air France-KLM Group are reaching for their checkbooks to forge a deeper global alliance. The US and Chinese carriers will each buy a 10 percent holding in Europe’s biggest airline. At the same time, Air France-KLM will take a 31 percent stake in the UK’s Virgin Atlantic Airways Ltd., in ...

لآloomberg If you think the government should do something about the cramped legroom on airplanes, you’ve got a friend in a federal court. The US Court of Appeals in Washington, D.C., ordered aviation regulators to consider setting minimum standards for the space airlines give passengers. “This is the Case of the Incredible Shrinking Airline Seat,” Judge Patricia Ann Millett wrote ...

Bloomberg Singapore Airlines Ltd. returned to a profit after a surprise loss in the last quarter, helped by a surge in the number of passengers and a recovery in the air cargo market. The main Singapore Air brand and all other divisions, including the budget-carrier unit, the cargo unit and an engineering company, all posted a profit at the operating ...

Bloomberg British Airways (BA) parent IAG SA and its biggest competitor Air France-KLM Group both boosted second-quarter earnings around 50 percent amid strong demand for business travel on routes to Asia and Latin America. Europe’s two largest airlines are benefiting from higher long-haul prices as rivals that are focused on shorter routes see fares crimped by overcapacity. IAG said earnings should ...

Bloomberg Avianca passengers face longer flight times to Europe and parts of the Caribbean as the Colombian carrier avoids Venezuelan airspace amid security fears. Flights to London and Madrid will take an extra 10 minutes, while steering clear of President Nicolas Maduro’s Venezuela will add 42 minutes to flights to Curacao, according to company estimates seen by Bloomberg. The company ...

ABU DHABI / WAM The total trading value of foreign investments in Abu Dhabi Securities Exchange (ADX) hit AED26.9 billion during H1, 2017, accounting for 47.3 percent of ADX total trading during the same period, which amounted to around AED56.5 billion, reflecting foreign investors’ growing confidence in the country’s economy. Foreign non-Arab investors topped the list with AED15.9 billion of ...

ABU DHABI / Agencies First Abu Dhabi Bank (FAB), created by a merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) on Wednesday reported a net profit of AED2.56 billion for the second quarter. This is the first combined results of Abu Dhabi’s two biggest banks, FGB and NBAD, after their merger in April to create ...

BLOOMBERG Abu Dhabi Ports is considering an initial public offering (IPO), joining a growing list of state entities in the United Arab Emirates seeking to sell shares, according to people familiar with the matter. The government-run ports operator has met investment banks in recent weeks and may decide on financial advisers soon, the people said, asking not to be identified ...

ABU DHABI / WAM Notifying the customers and the market of the actual changes to the lifting schedule provides transparency and credibility of oil production cut compliance, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy has stated. The minister made the statements on his Twitter on Wednesday, expressing hope that Abu Dhabi National Oil Company’s (ADNOC) decision to cut ...