News

Bloomberg BMW AG’s Chief Financial Officer Nicolas Peter expects full-year earnings near the upper end of the company’s guidance as higher vehicle prices offset production outages stemming from the dearth of chips. BMW’s returns from automaking will likely be at the higher end of the 9.5% to 10.5% of sales the company projected in September, the CFO said. While BMW ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a message of condolences to South African President Cyril Ramaphosa on the death of the country’s former president Frederick de Klerk. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and HH Sheikh Mohamed bin ...

DUBAI / WAM The Global Manufacturing and Industrialisation Summit (GMIS) on Wednesday announced that it will host three country-focused conferences in partnership with the United Kingdom, Australia and Italy. The summit will highlight the main drivers of development in manufacturing, encourage greater cross-border investment, foster innovation, and drive global skills development. The conferences will draw on global leaders from government ...

DUBAI / WAM On the fourth day of the Dubai Airshow 2021, the Ministry of Defence announced the conclusion of seven deals worth AED1,742,429,000.00 with local and international companies. This brings the total deals concluded during the first four days to 23 deals, with a total value of AED22, 523,874,000.00. The deals of the first day amounted to AED5,239,207,000.00, the ...

DUBAI / WAM Edge Group entity, EPI, the precision engineering backbone of UAE’s aerospace and defence industry, on Wednesday announced renewal of its longstanding partnership with Airbus subsidiary Stelia Aerospace, to manufacture high-quality precision engineered metallic aircraft components for A320, A330 and A340 families. The signed contract renewal testifies to the synergies the two companies have shared in past and ...

ABU DHABI / WAM Etihad Engineering, one of the world’s leading aircraft maintenance, repair, and overhaul (MRO) services provider based in Abu Dhabi, has been awarded a heavy maintenance contract by Virgin Australia for its Boeing 737 fleet. The scope of the contract covers heavy maintenance and modifications on more than 30 nose to tail aircraft for the largest airline ...

ABU DHABI / WAM His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office, and Chairman of the Executive Committee of the Board of Directors of Abu Dhabi National Oil Company (Adnoc), on Wednesday launched a new global renewable energy and green hydrogen venture between Adnoc ...

ABU DHABI / WAM The Sheikh Zayed Heritage Festival, named after the late Sheikh Zayed bin Sultan Al Nahyan, founding father of the United Arab Emirates, will welcome visitors from all over the world for a memorable experience to discover the culture and heritage of the UAE through its arts, crafts, gastronomy and customs. The festival, which kicks off Thursday ...

Abu Dhabi / WAM The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a memorandum of understanding (MoU) with the Ministry of Industry and Trade of the Russian Federation to bolster industrial collaboration in hydrogen fuel technology. In line with their common objective to develop sustainable and reduced or emission-free energy sources, as well as achieve a carbon neutral ...

Abu Dhabi / Emirates Business Etihad Cargo, the cargo and logistics arm of Abu Dhabi’s Etihad Aviation Group, entered into a Proof-of-Concept agreement with Speedcargo, the leading-edge logistics technology solutions provider, to utilise the Singapore-based provider’s artificial intelligence (AI) products to boost cargo capacity on flights. The landmark agreement makes Etihad Cargo only the second aviation company worldwide to leverage ...