News

  Dubai / WAM Emirates and Airlink officially activated their codeshare partnership, making it easier for customers to create their ideal itinerary and benefit from seamless connections and a single booking reference across eight domestic South African cities via the airline’s gateways Johannesburg, Cape Town and Durban. Emirates customers can now book a wide range of additional flights, including eight ...

  Abu Dhabi / WAM Aldar Properties launched the third cycle of its Manassah programme — a six-month incubator, aimed at cultivating entrepreneurial talent and advancing retail concepts in the UAE to become part of Aldar’s thriving retail portfolio. The programme is held in partnership with startAD, the global startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi. ...

  Bloomberg India plans to slash the production costs of green hydrogen to $1 a kilogram from $5-$6 currently to encourage industries to use cleaner energy and wants access to cheaper loans to help fund that transition, a senior government official said. The world’s third-largest carbon emitter put out a roadmap in February to become a hub for the production ...

  Bloomberg President Joe Biden’s commerce chief said it “may make sense” to lift tariffs on some goods as a way to tame the hottest inflation in almost four decades. “Steel and aluminum — we’ve decided to keep some of those tariffs because we need to protect American workers and we need to protect our steel industry; it’s a matter ...

Bloomberg Apple Inc supplier BYD plans to begin commercial production of iPads this month in northern Vietnam after a trial run started in May, according to a provincial government official. The production of the tablets is a boost for a country expected to benefit as electronics manufacturers seek alternatives to China. “The factory has been running a trial phase since ...

  Bloomberg Carro, one of Southeast Asia’s biggest online marketplaces for used cars, has agreed to buy a 50% stake in Indonesian automotive financing and rental company MPM Rent for S$75 million ($54.5 million) to expand in the world’s fourth most populous country. The deal will lead to a strategic partnership between Carro and PT Mitra Pinasthika Mustika Tbk, which ...

  Bloomberg Ample rice reserves in India, the world’s biggest exporter of the food staple, and expectations for bountiful monsoon rains should allay concerns about the possibility of any “drastic” measures to curb exports, according to National Commodities Management Services Ltd. Global markets are fretting that rice may be next on the agenda after India restricted wheat and sugar exports. ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to King Carl XVI Gustaf of Sweden on his country’s National Day, which is celebrated on June 6. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also dispatched similar ...

  Bloomberg Saudi Arabia’s sovereign wealth fund will take a $185 million stake in Capital Bank of Jordan as part of deal to help the lender expand. The Public Investment Fund (PIF) signed a subscription agreement that would involve it buying 63 million newly issued shares to give it a 23.97% stake in the Jordanian bank, according to a statement. The ...

  Dubai / WAM Emirates Development Bank (EDB), the financial engine of the UAE’s economic diversification and industrial transformation agenda, has announced its participation in Bonds, Loans & Sukuk Middle East, the region’s largest gathering for the corporate and investment banking industry. EDB is a Gold Sponsor of the event, which is taking place on 7th-8th June in Madinat Jumeirah, ...