Borse Dubai to sell Nasdaq shares
The sale is poised to generate $1.59 billion.
AstraZeneca to buy Amolyt for $1bn
It will pay $800 million upfront for the Lyon-based company.
Business
AD Ports Group, CMEC ink MoU
Business
Volvo Cars Q2 net profit $342m
Business
Business
Rossi appointed Acer Mideast VP
Michele Montecchio was appointed as Country Manager for the Middle East.
- Paul Collins, after driving the Acer Middle East and Africa business for seven years, has decided to retire.
- Rossi has been with the firm since 2007, having started in product development.
Business
Omantel pushes for 5G adoption
The Oman-origin telecom firm has signed a deal with Optiva for this.
- Omantel’s agreement with Optiva will upgrade the latter’s Charging Engine to a cloud-native architecture on the former’s private cloud
- The upgrade is expected to support new business models for 5G monetization
Business
MYCRANE expands to India
The Dubai firm has appointed an exclusive pan-India franchisee.
- The franchise partnership agreement was between MYCRANE and Sahil Freight Express Pvt Ltd was signed at Expo 2020 Dubai
- The crane market in India is expected to grow strongly in the coming years due to the expansion of roads and metro railways
Business
Ajman Free Zone partners with AlHabbai
One of the pact's aims is easing access to residence visas.
- Providing more competitive features and choices for medical examinations part of the partnership.
- AFZ committed to exploring and establishing partnerships with various sectors to deliver unified and efficient services to investors, said the director general.
Business
FedEx turnover rises to $23.5 bn
E-commerce growth has benefited the company.
- The company's turnover rose 14 percent to $23.5 billion, significantly more than expected by analysts, who had pegged it at $22.47 billion
- All the group's sectors benefited from the growth surge, from the urgent delivery service of FedEx Express to the ordinary transport of mail and parcels in FedEx Ground
Business
Aldar-ADQ grp to buy SODIC share
The Abu Dhabi based consortium will focus on identifying growth opportunities and guiding the company’s long-term strategy.
- The Abu Dhabi based consortium will focus on identifying growth opportunities and guiding the company’s long-term strategy
- The consortium’s objective is to advance SODIC’s position as a leading national developer by scale and reputation
Business
Dubai South and Huawei ink deal
The pact entails building smart transportation ecosystem.
- They will also explore innovative solutions to support a mixed-traffic, intelligent transport system for autonomous and driver-assisted vehicles.
- The two entities will also develop and promote unified international cybersecurity standards to safeguard digital transformation projects.
Business
QA arm expands Gulfstream fleet
Qatar Executive is a business-jet subsidiary of Qatar Airways.
- Qatar Executive is a business-jet subsidiary of Qatar Airways
- It now has a total of 11 Gulfstream G650ER aircraft in its fleet
Business
Qantas picks Airbus over Boeing
Boeing currently supplies much of Qantas' domestic fleet.
- Qantas Airlines committed to buying 20 Airbus A321XLR planes and 20 A220-300 jets from Airbus
- Boeing currently supplies much of Qantas' domestic fleet
Business
Borouge and ADNOC sign agreement
ADNOC L&S will manage integrated logistics for Borouge.
- The pact covers transportation and handling operations for Borouge-manufactured polymer products at Khalifa Port for export.
- The new agreement will see 85 percent of its value flow back to the UAE’s economy, accelerating the development of critical local supply chain functions.
Borse Dubai to sell Nasdaq shares
The sale is poised to generate $1.59 billion.
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AD Ports Group, CMEC ink MoU
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Geostrategy
DIB to buy stake in TOM Group
DIB felt Turkey is a great investment destination.
- DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
- DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.
Business
Credit Suisse expects Q3 loss
The bank said the loss could be as much as $2.2 billion.
- Its exit from certain loan portfolios is expected to result in a $1.6 billion loss, Credit Suisse said in a first-half results statement
- The winding down of certain management arrangements may result in an additional loss of up to $600 million, the bank added
Business
Cathay Pacific orders A320neo planes
The value of the deal is expected between $3.2 billion to $4.1 billion.
- Financial details of the sale were not disclosed, though at current list prices the deal would be worth $3.2 to $4.1 billion
- Airbus says the more fuel-efficient versions of the single-aisle A320 planes are the best sellers in the industry