GCC at the forefront of 2024 sukuk market expansion
This year, emerging markets, led by the UAE, issued record bonds against declining yields and expected rate cuts by major...Business
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...Business Economy
Aviation emerging out of Covid crisis, outlook brightening: Airbus CEO
The global aviation sector has begun to emerge from the Covid pandemic, its worst-ever crisis, and the "outlook is starting...A large order of 255 of Airbus' planes at the Dubai Airshow "completely justifies" a shift to ramping up manufacturing, the CEO said.
The United States has largely resumed, Europe is also resuming. Asia will probably take a little longer, Guilluame Faury said.
Expo opportunity to boost UAE-Monaco cooperation: Prince Albert II
Prince of Monaco, Albert II has called Expo 2020 Dubai a "great opportunity" to enhance the cooperation between his country...The UAE and Monaco are centers of global exchanges, the prince said on the sidelines of Monaco's National Day celebration at Expo.
Monaco’s pavilion at Expo 2020 is located in the Opportunities District and is inspired by the legendary Rock of Monaco.
Middle East’s first waste-to-sustainable aviation fuel plant to come up in Abu Dhabi
Abu Dhabi Waste Management Centre (Tadweer) has signed an agreement with Etihad Airways to facilitate the development of the first...The plant can convert 4 million tons of municipal waste every year into 140 million gallons of fuel.
The plant will help Abu Dhabi to divert 75 percent of municipal waste away from landfills.
Air Lease Corporation signs letter of intent to purchase 111 Airbus aircraft
US company Air Lease Corporation (ALC) has signed a letter of intent to purchase 111 Airbus aircraft, the European plane-maker...The agreement is for 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330neos and seven A350Fs.
Founded in 2010, ALC has ordered a total of 496 Airbus aircraft so far.
EDB and Dubai IE sign pact to offer UAE exporters access to finance
Emirates Development Bank (EDB) has signed a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing...The finance will help exporters expand their global value chains, said CEO of EDB.
EDB has also allocated AED30 billion as a direct and indirect financial bundle to finance SMEs, startups, and corporates.
EDGE bags AED11 bn contract to service UAE Air Force
For the first time in the company’s history, the three-year AED11 billion PBL contract will see GAL support the AFAD...For the first time in the company’s history, the three-year AED11 billion PBL contract will see GAL support the AFAD with their operational readiness
The agreement reinforces GAL’s position as one of the Middle East’s leading providers of aviation MRO services and will also streamline AFAD’s processes
MAWANI signs MoU to build cruise terminal at Dammam port
The Saudi Ports Authority (MAWANI) has signed an agreement with Cruise Saudi and Globe Group to build a new cruise...New terminal expected to boost the kingdom's tourism sector along the coastlines.
The agreement with Cruise Saudi and Globe Group elevates Saudi Arabia’s position as a leader in the cruise industry, said President MAWANI.
Tawazun, Airbus to establish new Abu Dhabi subsidiary
The MoU comes as part of Tawazun’s endeavors to attract long-term partnerships with leading defense and security, aviation and aerospace...The MoU comes as part of Tawazun’s endeavors to attract long-term partnerships with leading defense and security, aviation and aerospace manufacturing companies
According to the MoU, Tawazun and Airbus will explore potential cooperation opportunities in the areas of refueling solutions for Military Air Systems, Unmanned Aerial Systems etc
L’Oréal Middle East taps Accenture
Accenture will help L'Oréal Middle East improve its consumer experience.Accenture Interactive is expected to use its expertise in data-driven marketing transformation for L'Oréal Middle East
This, L'Oréal said, will help it develop a more precise and connected approach to increase consumer engagement in the GCC region
Epic Games pulls Fortnite from China
Fortnite’s Chinese test version was released in 2018, but it never got the permission to be formally launched and monetized.Epic had announced two weeks ago that it would shut down the Chinese version of the game on November 15
It noted back then that ‘Fortnite China's Beta test has reached an end,’ and that servers would be closed
