The boss of Etihad Airways, which owns 49 percent of troubled Italian airline Alitalia, said he deeply regretted a decision by Alitalia staff to reject a last-ditch restructuring deal, blocking a recapitalisation and sparking fears that the carrier may be grounded for good. The future of Alitalia was in doubt on Tuesday, with James Hogan, president and CEO of the Etihad Aviation Group and vice chairman of […]
TOKYO McDonald’s Corp (MCD.N) has put on hold plans to sell shares in its Japan unit, which recently returned to profit for the first time in three years after a series of food scandals shook consumer confidence in the chain. The fast food giant has “made the decision to not proceed with the transaction at this time,” Chief Finance Officer Kevin M. Ozan told investors on a […]
It was one of the most memorable book reviews of last year. As our critic pondered the English translation of Mohammad Rabie’s award-winning tale of a futuristic Egyptian dystopia, she concluded by saying that “reading Otared is, by and large, like having a hand grasping the back of your head, forcing you to look through photos from hell”. Seven months later, Rabie is not only familiar with […]
Eight current and former Fox News employees, including presenter Kelly Wright, have joined a racial discrimination lawsuit against the cable channel alleging “plantation-style management” by top executives. Kelly Wright, a two-time Emmy award winner, alleges that he was sidelined from programming and passed over for plum assignments that were given to white colleagues. The lawsuit, which adds eight plaintiffs to the three Fox News employees who previously […]
He was supposed to have been charged yesterday, but action was put off A WARRANT of arrest is out for a politician in Malacca implicated in a multimillion-ringgit corruption scandal. The man was supposed to be charged yesterday with at least 10 counts of offences related to money laundering, but the highly-anticipated court appearance did not materialise. The New Straits Times was made to understand that the […]
3rd Internet of the Things Expo (ioTx) to highlight concerns in securing smart and connected cities Hyperloop Transportation Technologies to give visitors a sneak preview of high-speed, tube-based transportation system 25 April 20173rd Internet of the Things Expo (ioTx) to highlight concerns in securing smart and connected cities Hyperloop Transportation Technologies to give visitors a sneak preview of high-speed, tube-based transportation system Dubai, UAE – As […]
Deckers Outdoor Corp (DECK.N) said on Tuesday it was exploring strategic alternatives, including a sale of the company, a month after an activist investor urged the apparel and accessories maker to sell itself. Deckers, the owner of the UGG brand of boots and apparel, said it had retained Moelis & Co LLC as financial adviser. Shares of Goleta, California-based Deckers rose 6.5 percent to $62.53 in trading […]
American officials said Turkey had informed the United States less than an hour in advance that it intended to carry out the bombing raids in the crowded airspace over northern Syria and Iraq. American officials said that they had asked Turkey not to proceed without proper coordination, but that the request was ignored. Continue reading the main story Mark Toner, a State Department spokesman, said the United […]
ABU DHABI // A historic Islamic scholar and poet is the subject of the winning novel for the 10th International Prize for Arabic Fiction. Saudi Arabian author Mohammed Hasan Alwan was declared the winner of the prize, in a ceremony held in Abu Dhabi on Wednesday night, for A Small Death. “I would like to thank the panel for this very pleasant mistake,” Alwan, 38, quipped while […]
There is no love lost between French luxury house LVMH and its smaller rival Hermès despite the financial ties between them. In 2011, then-Hermès chief executive Patrick Thomas reacted with absolute fury when he learnt that LVMH had used derivatives to build up a stake in the company. In a notoriously crude statement, he said: “If you want to seduce a beautiful woman, you don’t start by […]
Etihad Aviation Group on Monday announced the appointment of Robin Kamark as CEO, Airline Equity Partners. Kamark will be responsible for leading and developing the Group’s minority equity investment strategy, which includes stakes in airberlin, Alitalia, Jet Airways, Air Serbia, Air Seychelles, Etihad Regional and Virgin Australia, a statement said. He takes over from Bruno Matheu, who has held the role since May 2016, and is leaving […]
Authored by Zainab Calcuttawala via OilPrice.com, Alberta Premier Rachel Notley warned U.S. President Donald Trump that he would face the wrath of the northern nation’s many allies if the freshman president begins employing energy trade restrictions with Canada. Notley is currently in China, negotiating her country’s trade policies with the Asian giant. She told reporters that she did not know what was meant by Trump’s comments about […]
Billionaire Bernard Arnault and his family are shunning big external acquisitions and opting to tighten their grip on LVMH, the world’s largest luxury group by revenues, where they’re already the largest shareholder. The Arnault family is simplifying the complex corporate structure between its family holding company Groupe Arnault, Christian Dior and LVMH — in a move that will see it sell out completely of rival Hermès. “We’re […]
By Eveline Danubrata | BEKASI, Indonesia BEKASI, Indonesia A full merger of Japanese car makers Mitsubishi Motors Corp (MMC) (7211.T) and Nissan Motor Co Ltd (7201.T) is not on the table, Carlos Ghosn, chairman of both firms, said on Tuesday. “Full merger is not on the table. We want Mitsubishi to reform itself,” said Ghosn, who was attending the opening ceremony of a new Mitsubishi factory on […]
25 April 2017 Dubai, UAE – Emirates Integrated Telecommunications Company PJSC (“du”) today published its financial results for the first quarter of 2017 showing a 2.5% rise in revenue to AED 3.17 billion. Net Profit before royalty decreased by 16.7% to AED 851.2 million, compared with Q1 2016 Advertisement (AED Millions) First Quarter Analysis Q1 2016 Q1 2017 % change Revenue (AEDm) 3,089.6 3,166.4 2.5% […]
Saudi Arabia is about to cast off its oil-dependence, build brand-new industries and open its economy to foreign investment, according to the government. That might make it a good time to buy into a Saudi bank. And substantial stakes in two of them are up for sale. But in both cases, it’s international lenders who are seeking to get out – and there are no big-name global […]
Tough day for anyone running Webroot antivirus. A malware signature update issued by the company on Monday triggered the software into mistakenly flagging Windows system files as malware, melting down millions of managed systems around the world. The problem began in the afternoon on the US east coast when the antivirus product began falsely marking those files as W32.Trojan.Gen, otherwise known as generic malware. That moved crucial […]
The finalized prototype of Google self-driving car. First, it was just a dream. Then it became a quirky research project undertaken by a handful of the nerdiest engineers in the robotics industry. Now self-driving cars are on the brink of transforming transportation. The industry creating the technology for autonomous vehicles has morphed from a collaborative space of free-flowing ideas into a high-speed road race where the winners […]
By Toby Sterling | AMSTERDAM AMSTERDAM U.S. paint maker PPG Industries (PPG.N) raised its proposed offer for Akzo Nobel (AKZO.AS) by about 8 percent to 26.9 billion euros ($28.8 billion) on Monday, increasing the pressure on its Dutch rival to enter into talks. PPG said its proposal was a “final” invitation to Akzo to enter negotiations and included a break fee in case the deal was rejected […]
US paintmaker PPG Industries raised the tempo in a fierce takeover battle with its rival Akzo Nobel by tabling a third bid that it said valued the Dutch company at €26.9bn. PPG on Monday made a new cash-and-stock offer for the owner of the Dulux brand of paints at €96.75 a share — a premium of 50 per cent over Akzo Nobel’s undisturbed stock price before the […]
Former BP boss Tony Hayward will in June leave Genel Energy, the Kurdistan-focused oil explorer he co-founded, following several troubled years for the lossmaking company. He will be succeeded as Genel chairman by Stephen Whyte, an energy industry veteran, whose career has included a long spell at Royal Dutch Shell in various technical and commercial roles. Since 2013, Mr Hayward has been chairman of Glencore, the mining-cum-trading […]
Risk is definitely on this morning as European shares soar, led by French stocks and a new record high in Germany’s Dax, after a “French relief rally” in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month, and who is seen as a 61% to 39% favorite to defeat Le Pen […]
Of the 150 Holocaust survivors who founded the kibbutz, Ms. Sternberg — who shared her testimony with museum visitors for years — is one of the last ones alive to bear witness. As her generation fades away, the Ghetto Fighters’ House is grappling, like other institutions, with the question of how to educate future generations about the Holocaust and combat ignorance and denial. Continue reading the main […]
23 April 2017 H.E Ali Salim Al Midfa, Chairman of Sharjah Airport Authority, was re-elected to serve a second term as Regional Board Director, during the 12th Regional Assembly of the Airports Council International (ACI) Asia Pacific, which was held in Doha, Qatar, last week. H.E was re-elected for another three-year term, as one of the 13 Regional Board Directors, by a majority of votes by the […]
