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Bloomberg Two and a half years after SpiceJet Ltd was forced to ground its entire fleet on its inability to pay a mere US$2.2 million in fuel bills, the budget airline has become the world’s best-performing airline stock — with US$26 billion in plane orders to boot. The company’s co-founder and Chairman Ajay Singh has played the white knight, injecting ...

Bloomberg Thai Airways International Pcl said it plans to modernize its fleet by replacing almost 30 older aircraft over the next five years, adding to the climbing demand for planes in Asia. The state-run airline is seeking new generation aircraft offering greater comfort and fuel efficiency, and is talking with both Airbus SE and Boeing Co., Chairman Areepong Bhoocha-Oom said ...

Bloomberg American Airlines Group Inc. will find a new supplier to make uniforms for 70,000 employees, following thousands of complaints by flight attendants who said the current outfits were making them ill. The carrier is selecting a new provider and won’t renew its contract with Twin Hill, a unit of Tailored Brands Inc., American said in a letter to employees. ...

PARIS / Reuters The new chief executive of Italy’s defence and aerospace group Leonardo will target the Gulf and Far East as part of an aggressive expansion drive to boost its international presence, according to company and government insiders. After years of cuts to defence budgets that have curbed demand for military equipment, including in Italy, Alessandro Profumo is looking ...

SINGAPORE / Reuters Fuel oil profit margins have surged to their highest in more than five years on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs. Fuel oil, the residue left over after initial crude refining, has become scarce in Asia as refiners make their plants more complex by upgrading ...

Abu Dhabi / WAM A total of 12.922 million cheques worth AED643.7 billion were handled by the UAE Clearing Cheque System during the first five months of 2017, according to the UAE Central Bank data. A total of AED28.9 billion worth of 546,000 cheques were bounced from January through the end of May, accounting for 4.5 percent of the cheques’ ...

Dubai / WAM Data Hub Integrated Solutions (MORO), a fully-owned subsidiary of Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding with Dell to enhance collaboration and partnership between the two companies and to develop and deliver cloud computing solutions, integrated infrastructure administration services and servers, secure data storage solutions, innovative information technology applications. The MoU facilitates enhanced ...

ABU DHABI / WAM The number of marketing foreign funds incorporated by the Securities and Commodities Authority (SCA) in the UAE grew 5.6 percent to 633 funds by the end of 2016, from 599 in 2015. SCA in recent statistics indicated that the number of foreign marketing funds operating in the country over the past five years jumped from 218 ...

PARIS / Reuters Emirates, the Middle East’s largest airline, and budget carrier flydubai will start to deepen their relationship over the next 18 months as their owner, the Dubai government, seeks to improve returns. Emirates President Tim Clark told reporters on Wednesday that changes could include more closely coordinated connecting – or feeder – flights, and a joint decision on ...

Dubai / Emirates Business Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, is to share the secrets of the success of its long-running programme to engage employees in continuous improvement with Government and private sector organisations developing policy recommendations to encourage innovation in the UAE. EGA is sponsoring the Innovation 360 think ...