AirAsia’s Tony Fernandes steps aside amid Airbus bribery probe

Kuala Lumpur: AirAsia’s colourful chief executive Tony Fernandes has stepped aside from the company while authorities probe unusual payments at the Malaysian carrier, as the fallout from a $4 billion bribery fine at Airbus reverberates across the industry. The shock decision came after Britain’s Serious Fraud Office (SFO) released details of a probe that found […]

Dubai Investments reports Dh657.6m profit in 2019

Dubai: Dubai Investments, which is listed on the Dubai Financial Market, has reported full-year net profit of Dh657.6 million for 2019, compared to Dh651.4 million in 2018. The company’s financial statements showed that its earnings per share (EPS) increased to 15.5 fils in 2019, compared to 15.3 fils in 2018. The company’s total assets in […]

Opec+ technical meeting drags on amid oil cut debate

LONDON/DUBAI/MOSCOW: An Opec+ committee extended its meeting into a third day on Wednesday and would debate again on Thursday the need to cut oil output in response to the coronavirus’ impact on energy demand and global economic growth. Four sources familiar with the talks said the meeting on Wednesday ended with no concrete recommendation and […]