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Business United Arab Emirates

  • LONDON, March 17- Once the preserve of rich oil exporters or nations with trade surpluses, like Norway, Kuwait and Singapore, an unlikely new breed of sovereign wealth fund is emerging- in countries with large deficits and deep debt. They control about $6.5 trillion, according to data provider Preqin, and have transformed the global investment landscape by...

  • MILAN— Unions representing Alitalia workers announced an April 5 strike to protest job and salary cuts that are part of the company's plans to relaunch the struggling airline. Nino Cortorillo of the Filt-Cigl union came out of a meeting Friday with management at Rome's Fiumicino Airport saying workers would strike to protest plans to lay off more than 2,000...

  • *Oil shipments to Asia up 3 pct since supply cut was announced. *Oil to Asia vs prices: http://tmsnrt.rs/2muIGTc. SINGAPORE, March 17- Halfway into an OPEC- led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect.

  • DUBAI, March 16- Passengers from six mainly Muslim countries who would have been barred from the United States under President Donald Trump's latest travel order will be allowed to board U.S.-bound flights on Emirates and Etihad Airways now that a federal judge has blocked it, the Middle East carriers said on Thursday. Emirates will follow guidance by U.S....

  • MILAN— Italian flagship airline Alitalia presented Thursday a new business plan that includes 1 billion euros in cost-cutting in a bid to compete with low-cost carriers. The new plan comes nearly three years after Abu Dhabi carrier Etihad Airlines took a controlling stake in the long-troubled airline. "We have a lot of work to do," Transport Minister Graziano...

  • BANGKOK— Thailand's military government is seeking to collect at least 12 billion baht in unpaid taxes and penalties from a prime minister toppled in a coup 11 years ago, in what his supporters consider a continuing political vendetta. Deputy Prime Minister Wissanu Krea-ngam said Wednesday that in order to avoid a March 31 legal deadline on collecting the...

  • The UAE is home to Emirates, which flies more passengers long haul than any other airline, as well as rapidly expanding Etihad Airways and low cost carriers flydubai and Air Arabia. "The UAE carriers will have a year that is probably below 2016," Alexandre de Juniac, director general and chief executive of the International Air Transport Association, told...

  • ABU DHABI, March 14- Airline industry group IATA said it remains concerned about protectionist rhetoric from the United States and other governments, but also sees the new U.S. administration's plans to invest in infrastructure as positive for the industry. He described the meeting to reporters as "positive," but said that IATA was also "heavily concerned" about...

  • *Pirates launched 237 attacks off Somalia in 2011- officials. NAIROBI, March 14- Pirates have hijacked an oil tanker with eight Sri Lankan crew onboard, a Somali official said on Tuesday, the first time they have successfully taken a commercial ship since 2012.. The Aris 13 sent a distress call on Monday, turned off its tracking system and altered course for the...

  • ABU DHABI, March 14- Airline industry group IATA said it remains concerned about protectionist rhetoric from the United States and other governments, but also sees the new U.S. administration's plans to invest in infrastructure as positive for the industry. IATA and its members were critical of President Trump's Jan. 27 executive order that blocked refugees...

  • *Pirates launched 237 attacks off Somalia in 2011- officials. NAIROBI, March 14- Pirates have hijacked a Sri Lankan-flagged oil tanker, a Somali official said on Tuesday, the first time they have successfully taken a commercial ship since 2012.. The Aris 13 sent a distress call on Monday, turned off its tracking system and altered course for the Somali port town of...

  • *Eight crew believed on Dubai- owned fuel freighter Aris 13- expert. NAIROBI, March 14- Somali pirates are suspected of hijacking a Sri Lankan-flagged fuel freighter that sent a distress call, turned off its tracking system and altered course for the Somali coast, a piracy expert said on Tuesday. The Aris 13 was believed to be carrying eight crew, said John Steed of...

  • *Eight crew believed on Dubai- owned fuel freighter Aris 13- expert. March 14- Somali pirates are suspected of hijacking a Sri Lankan-flagged fuel freighter after the ship sent a distress call, turned off its tracking system and altered course for the Somali coast, a piracy expert said on Tuesday. The Aris 13 is believed to be carrying eight crew, said John Steed of...

  • **U.S. investment firm Vista Equity Partners said it would buy Canada's DH Corp in a deal valued at C $4.8 billion, highlighting the growing interest in companies specializing in financial technology. **German chemicals maker Evonik will buy Hamburg- based Dr. Straetmans GmbH, a maker of cosmetic ingredients, for just under 100 million euros. **German engineering...

  • **U.S. investment firm Vista Equity Partners said it would buy Canada's DH Corp in a deal valued at C $4.8 billion, highlighting the growing interest in companies specializing in financial technology. **German chemicals maker Evonik will buy Hamburg- based Dr. Straetmans GmbH, a maker of cosmetic ingredients, for just under 100 million euros. **German engineering...

  • KHOBAR, Saudi Arabia/ DUBAI, March 13- Saudi Aramco has chosen U.S.-based FTI Consulting as global media adviser for what is expected to be the world's largest initial public share offer, industry sources said. The sources said FTI's main competition in the bidding was international consulting firm Brunswick Group. "Aramco has avoided frequent contact with the...

  • **Investment firm Vista Equity Partners said it would buy Canada's DH Corp in a deal valued at C $4.8 billion, in the latest sign of interest in companies specializing in financial technology. **German chemicals maker Evonik will buy Hamburg- based Dr. Straetmans GmbH, a maker of cosmetic ingredients, for just under 100 million euros. **Canada's two biggest pension...

  • **Investment firm Vista Equity Partners said it would buy Canada's DH Corp in a deal valued at C $4.8 billion, in the latest sign of interest in companies specializing in financial technology. **German chemicals maker Evonik will buy Hamburg- based Dr. Straetmans GmbH, a maker of cosmetic ingredients, for just under 100 million euros. **Canada's two biggest pension...

  • *Etisalat may exit Nigeria over debt default. *To meet lenders in Nigeria on Tuesday or Wednesday. DUBAI/ LAGOS, March 13- Abu Dhabi telecoms group Etisalat may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2 billion loan, but wants the company's debt restructured before it does so, two sources told Reuters on Monday.

  • **German chemicals maker Evonik will buy Hamburg- based Dr. Straetmans GmbH, a maker of cosmetic ingredients, for just under 100 million euros. **Canada's two biggest pension funds have agreed to partner with LOGOS, a real estate logistics operator, to invest in warehouses in Singapore and Indonesia. **Bahrain- based Investcorp said on Sunday Abu Dhabi state...