American Airlines orders 260 jets
It is part of the airlines' effort to 'modernize' its fleet.
Business
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...
Business
Business
Airfares drop sharply in Kuwait after the opening of International Airport
Airfares to some destinations from Kuwait have dropped by 50 to 200 percent after operations at Kuwait International Airport resumed...
- Airfares on some destinations such as Turkey, Egypt, France, and Germany dropped by more than 50 percent .
- Cost of travel to the UAE, Britain, India, and the Philippines have remained high compared to the airfares before the outbreak of the Covid-19 pandemic.
Business
Saudi Arabia sets up $187m solar panel factory in Tabuk
Saudi Arabia has set up a $186.6 million worth solar panel factory in the Tabuk Industrial City to cater to...
- Spread over more than 27,000 square meters, the factory will have an estimated production capacity of 1.2 gigawatts
- The new Tabuk facility uses automated machines for its production, and employs latest international technologies in the field
Business
ADNOC awards $1.46 billion EPC contracts for Dalma Gas Dev Project
The two EPC contracts, awarded to National Petroleum Construction Company (NPCC) and a joint venture (JV) between Técnicas Reunidas and...
- The Dalma field is part of the Ghasha Concession which is the world’s largest offshore sour gas development and an enabler of gas self-sufficiency for the UAE
- Both engineering contracts are expected to be completed in 2025 and will enable the Dalma field to produce around 340 mmscfd of natural gas
Analysis
Luxury brands burning products is a problem
High fashion can be detrimental to the environment because of its large carbon footprint.
- To keep their uniqueness, high-end fashion brands routinely burn unsold products
- Fashion contributes up to 8 percent of the global carbon footprint
Business
Qatar Airways welcomes first Boeing B777-9 aircraft to Doha
The aircraft, which is anticipated to join Qatar Airways fleet in the near future, will be the world's largest and...
- The aircraft, which is anticipated to join Qatar Airways fleet in the near future, will be the world's largest and most efficient twin-engine jet
- Key technologies enabling this efficiency are its new carbon-fibre composite wing, new engines and natural laminar flow nacelles
Business
Dubai Airshow: UAE Armed Forces sign deals worth AED22 bn
The deals were announced by the Executive Director of the Military Organizing Committee of the Dubai Airshow 2021 Major General...
- The deals were announced by Major General Staff Pilot Ishaq Saleh Al Balushi, and Lt. Col. Pilot Sarah Hamad Al-Hajari, Dubai Airshow spokesperson
- AED5,239,207,000.00 in deals were signed on the first day, AED11,284,837,000.00 on the second day, and AED4,257,401,000.00 on the third day.
Business
Mubadala eyes Yahsat tech
Yahsat will support Mubadala Petroleum with satellites.
- Yahsat’s satellite-based technologies and coverage across the EMEA and Asia regions is at the center of the deal
- Mubadala Petroleum will see how these satellites can help it handle its critical operations
Business
Emirates SkyCargo and Emirates Post Group to promote e-commerce global platform
Emirates SkyCargo and Emirates Post Group (EPG) have signed a Memorandum of Understanding (MoU) to develop an e-commerce end-to-end global...
- The platform will focused on serving markets in the Middle East, Africa and West Asia.
- In October 2019 the Emirates SkyCargo launched Emirates Delivers, an international e-commerce shipping solution
Business
France looks to expand its presence in UAE agri-food sector
France is negotiating an agreement with the United Arab Emirates (UAE) that would allow French Small and Medium-sized Enterprises (SMEs)...
- "We are negotiating [with the UAE] an agreement on food safety that will strengthen the presence of our SMEs in the agri-food sector"
- These agreements "will help to develop our SMEs' exports to the UAE and [increasing] the establishment of our start-ups in the country"
Business
Etihad bags maintenance contract
The contract involves Virgin Australia's Boeing 737 fleet.
- The contract was signed during the Dubai Airshow for 30 nose-to-tail aircraft of Virgin Australia.
- Etihad Engineering’s facility is located in Abu Dhabi and is spread over an area of 500,000 sqm.
American Airlines orders 260 jets
It is part of the airlines' effort to 'modernize' its fleet.
Business
Company News
Latest News
$61bn Broadcom-VMware merger cleared
The merger is expected to be completed by the end of Oct.
Business
Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.
Business
Dubai International Chamber event explores trade ties China’s Wuxi
Dubai, UAE - Dubai International Chamber hosted a B2B event during the Wuxi – Dubai Economic & Trade Exchange Conference...
Business
Most Read
Business
Bahrain Central Bank’s $185 million treasury bills oversubscribed
Manama, Bahrain – This week’s BD 70 million ($185 million) issue of Bahrain Government Treasury Bills has been oversubscribed by...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government .
- The approximate average price for the issue was 98.395 percent with the lowest accepted price being 98.261 percent.
Business
Generative AI likely to supplement than destroy jobs: ILO
Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
- An International Labour Organization (ILO) study has found most jobs and industries are only partly exposed to automation and are more likely to be complemented by Generative AI.
- It suggests this new wave of technological transformation could offer important benefits for developing countries.
Market Report
European stocks rise, China rate cut fails to ease worries
European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris...
- There are concerns that the US Federal Reserve could raise interest rates further and keep them elevated for longer.
- Focus turns this week to a symposium of top central bankers and business leaders at Jackson Hole, Wyoming, with dealers hoping for guidance on rates.