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  DUBAI / Reuters Shares in Saudi Electricity Co (SEC) weighed on Saudi Arabia’s stock market on Wednesday after the company reported a wider net loss for the fourth quarter, while Egypt’s index pulled back as local traders booked gains in blue chips. The Saudi equities index edged down 0.3 percent as SEC slumped 3.4 percent after posting a quarterly ...

Bloomberg Kenyan stock prices at more than three-year lows may have further to fall with domestic investors favoring bonds and foreign buyers waiting for lower valuations, the head of the bourse said. Shares on the Nairobi Securities Exchange have dropped 6.9 percent since Jan. 1, extending last year’s 8.5 percent decline, because of jitters among investors about elections scheduled for ...

  Bloomberg The third and final aircraft needed to complete flight trials of Airbus Group SE’s enlarged A350-1000 jet is poised to join the test program as the manufacturer pushes to hand over the first production plane to Qatar Airways before the end of the year. The-1000, a stretched model seating 40 more people than the existing A350-900, is on ...

  Bloomberg Etihad Airways PJSC has no plans to take a stake in Deutsche Lufthansa AG, though the carriers are exploring the possibility of expanding their recent cooperation agreement, according to James Hogan, the company’s chief executive officer. Asked if Abu-Dhabi-based Etihad would be buying Lufthansa, for which it has been touted as a possible investor, Hogan replied “no.” The ...

  Bloomberg Cathay Pacific Airways Ltd., Asia’s biggest international airline, said it will eliminate some positions after conducting a critical review of its business in a bid to arrest a decline in earnings. “The competition is here to stay and the uncertainty is the ‘new normal’ – we must simply respond,” the Hong Kong-based carrier said in a statement Wednesday ...

  Bloomberg Amazon.com Inc. and India’s Flipkart Online Services Pvt have walked away from talks to acquire Dubai-based Souq.com after disagreeing over price, according to two people with knowledge of the matter. The e-commerce business is now seeking other potential investors and is negotiating with mall-operator Majid Al Futtaim, one of the people said, asking not to be identified as ...

  Bloomberg British trenchcoat maker Burberry Group Plc said business in Asia-Pacific returned to growth and it enjoyed an “exceptional” boost at home in the UK as the lower pound drew shoppers, the second positive sign in a week for Europe’s struggling luxury-goods industry. Third-quarter retail revenue rose 4 percent on a currency-neutral basis, the London-based company said on Wednesday, ...

  Washington / Reuters Wal-Mart Stores Inc will create about 10,000 jobs in the United States this year as part of a previously announced plan, it said, as President-elect Donald Trump puts pressure on companies to hire more US workers. The world’s largest retailer joined companies like General Motors Co and Amazon.com Inc, which have rushed to announce their plans ...

  Washington / Reuters A drone photography company that was the subject of the highest-profile attempt by a U.S. regulator to enforce aviation law on unmanned aircraft has agreed to pay a $200,000 fine to settle a 2015 case. SkyPan International Inc., whose website still features aerial photos of urban areas where drone flights are prohibited without special permission, had ...

  Bloomberg Goldman Sachs Group Inc. reported fourth-quarter earnings that beat analysts’ estimates on a surge in bond-trading revenue as Donald Trump’s surprise victory fueled speculation economic growth will accelerate. Net income rose to $2.35 billion, or $5.08 a share, from $765 million, or $1.27 a year earlier, when the lender set aside $1.54 billion to pay a mortgage settlement, ...