Bloomberg The European Union (EU) is planning a 3.9 billion fund that will invest in early stage technology in an effort to increase the pipeline of innovations that might someday take on giants in the US and China. Traditional venture capital firms typically don’t fund “the famous innovation valley of death,†where science has produced a breakthrough, but a costly …
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NEW YORK / WAM The UAE underscored the importance of tolerance and dialogue in reconciliation efforts and affirmed the UAE’s commitment to promoting peaceful coexistence and political solutions to address global challenges, during the UN Security Council Open Debate on peacebuilding and sustaining peace specifically the role of reconciliation. “The UAE has always been keen on promoting the principles of …
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Dubai / Emirates Business Emirates, the world’s largest international airline, on Wednesday announced that it has signed a full purchase agreement for 30 Boeing 787-9 aircraft, worth AED32.3 billion ($ 8.8 billion) at list prices, at the Dubai Airshow 2019. Under its agreement with Boeing, Emirates has exercised its right to substitute the B777x with B787s. This deal includes Boeing …
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Bloomberg A week after Vodafone Group Plc’s chief executive suggested the company’s India venture was headed for insolvency without government help, the shares have more than doubled over four trading days. The rally followed plans by the nation’s top three carriers to raise tariffs, waving the white flag in a price war that dragged rates to some of the lowest …
Read More »Bloomberg Oil steadied after falling to a two-week low on signs of swelling American crude inventories, while heightened political tensions clouded the chances of a trade deal between the US and China. Futures held above $55 a barrel in New York after slumping 3.2% on Tuesday, the most since the end of September. Industry data showed crude stockpiles rose by …
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Abu Dhabi / WAM Global leaders convened at the Reaching the Last Mile Forum in Abu Dhabi on Tuesday to affirm their commitment to eradicate polio and pledge $2.6 billion as part of the first phase of the funding needed to implement the Global Polio Eradication Initiative’s Polio Endgame Strategy 2019-2023. This pledging event comes on the heels of a …
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Bloomberg The trade war’s drag on the world’s largest two economies will gradually fade in 2020 as tariffs on imports from China have likely peaked, according to Goldman Sachs Group Inc. The recent progress towards a partial trade deal and expectations of an extended truce implies that this drag will disappear, which will also benefit the global economy, Goldman Sachs …
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Bloomberg Boeing Co. secured orders for 50 737 Max narrow-body planes, padding its tally at the Dubai Airshow while building momentum for the grounded aircraft ahead of its potential return to the skies in coming weeks. Kazakhstan’s Air Astana signed a letter of intent for 30 jets, Boeing announced on Tuesday, while an undisclosed customer bought 20, according to a …
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Dubai / WAM The number of Indian tourists travelling to the GCC is expected to increase 81 percent from 5.4 million in 2018 to 9.8 million in 2024, growing at a Compound Annual Growth Rate (CAGR), of 10 percent, according to the latest data published ahead of Arabian Travel Market (ATM, 2020). As destinations throughout the Middle East prepare to …
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Dubai / Emirates Business Halcon, a regional leader in the production and supply of precision-guided weapons, has signed a $1 billion (AED3.6 billion) contract to deliver its Desert Sting-16 (DS-16) range of precision guided weapons to the UAE Armed Forces. Saeed Al Mansoori, CEO of Halcon, announced the landmark deal at Dubai Airshow 2019. Speaking on the sidelines of the …
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