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Bloomberg India’s biggest airline grounded at least seven Airbus SE jetliners as it awaits fixes for balky Pratt & Whitney engines, joining several carriers around the world that have pulled the planes from service. IndiGo stopped using one A320neo aircraft this month after grounding four in June and two in May, according to data from flight-tracking website Flightradar24. Including IndiGo’s ...

Dubai / Emirates Business Better Life, one of the leading home appliance retailers in the UAE and a division of Easa Saleh Al Gurg Group, LLC has launched the ‘Better Surprises’ promotion as part of Dubai Summer Surprises (DSS) to provide attractive savings for customers. The promotion extends across its full range of appliances which includes built-in and major domestic ...

Bloomberg J. C. Penney Co., already grappling with sluggish sales and an effort to close underperforming stores, is losing its chief financial officer. Edward Record, who had served as CFO since March 2014, will leave the company on Tuesday to “pursue other interests,” J.C. Penney said. He will remain an adviser until Aug. 7 to help with the transition, with ...

Bloomberg Long known for squeezing its vast network of suppliers, Wal-Mart Stores Inc. is about to step up the pressure. The focus this time is delivery scheduling, and the company’s not messing around. Two days late? That’ll earn you a fine. One day early? That’s a fine, too. Right on-time but goods aren’t packed properly? You guessed it — fined. ...

ABU DHABI / WAM Abu Dhabi’s 2016 Gross Domestic Product (GDP) at current prices surged to AED791.371 billion, posting an annual growth of 2.8 percent over 2015 GDP of AED770.11, with non-oil activities contributing a staggering and unprecedented 72.5 percent of the GDP- the highest since the emirate’s shipment of its first crude in the 1960s , according to the ...

ABU DHABI / Reuters Abu Dhabi’s national oil company (ADNOC) is weighing proposals from Goldman Sachs, First Abu Dhabi Bank (FAB), HSBC and JPMorgan for lead roles in the listing of its retail business, sources familiar with the matter said. Rothschild is in a strong position for an advisory role to the deal that could raise $1.5 to $2 billion ...

ABU DHABI / WAM Driven by a high level of liquidity targeting a set of blue chips, the Dubai Financial Market (DFM) recorded an impressive volume spike, auguring well for a price improvement over the coming days. Reflecting the same bullish view, the Abu Dhabi Securities Exchange (ADX) closed high thanks to a noticeable rise in Etisalat’s share which closed ...

ABU DHABI / WAM The Union National Bank (UNB) and InvestBank came in front of the pack in revealing their Q2 financial results, reflecting the UAE banking sector’s unwavering commitment to the rules and regulations of the Securities and Commodities Authority (SCA). A total of AED177.9 million in net profit have been revealed by the InvestBank for the first half ...

ABU DHABI / Emirates Business Etihad Airways is adding year-round flights between its Abu Dhabi hub and both Cairo and Lagos later this year to cater to growing demand to and from the United Arab Emirates. A fifth daily scheduled service will be introduced on the Cairo route, effective 1 October 2017, taking frequency to the Egyptian capital up from ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the Dubai Design District, d3, where he reaffirmed the importance of nurturing talent and innovation, which, he said are “fundamental pillars of sustainable development”. He was accompanied by HH Sheikh Maktoum bin Mohammed bin Rashid Al ...