News

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 ...

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 ...

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 ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, recognised the winners of the 2019 REACH Awards on Tuesday at a ceremony held during the Reaching the Last Mile Forum in Abu Dhabi. Established by the Crown Prince of Abu Dhabi, the biennial ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union and President of the Supreme Council for Motherhood and Childhood, said that children have the right to live in safety and security, urging the international community to shoulder its responsibility towards children and to work with full capacity to enforce mechanisms and policies that would ...

Dubai / WAM Dubai Islamic Bank (DIB), successfully closed a $750 million 5-year Sukuk with a profit rate of 2.950 percent per annum, which is equivalent to 140bps over the 5-year Mid Swap Rate. The transaction is DIB’s second foray into the international capital markets in 2019, first being a $750mn Additional Tier 1 sukuk priced earlier this year. The ...

Abu Dhabi / Emirates Business Sanad Capital (Sanad), the aerospace asset leasing and financial solutions company, has completed delivery of its 12th engine to Etihad Airways. The delivery marks the final tranche of a $280 million, 12 engine deal signed between the two Abu Dhabi aerospace companies in 2016. The 12-year sale and lease-back agreement between Etihad Airways and Sanad, ...

SHARJAH / WAM Mohammed Sultan Al Qadi, Chairman of Emirates Post Group, on Tuesday inaugurated the 10th edition of the Sharjah Stamp Exhibition at Mega Mall Sharjah, set to witness a debut by China and Pakistan, besides Australia, New Zealand, Iraq, Kuwait, Oman, Saudi Arabia, and Bahrain. The exhibition is being organised by the Emirates Philatelic Association (EPA), in cooperation ...

ABU DHABI / WAM ION, the UAE-based sustainable transport company, which was announced in 2018 as a joint venture between Bee’ah and Crescent Enterprises, has now set up operations in Abu Dhabi, Dubai and Sharjah. The first ever green mobility solutions provider of its kind in the region was officially inaugurated during a ceremony attended by Badr Jafar, CEO of ...

ABU DHABI / WAM Abu Dhabi Development Holding Company (ADDHC), issued a resolution to restructure the board of Abu Dhabi National Exhibitions Company (Adnec). The new board is chaired by Saif Saeed Ahmed Ghobash and includes the following members: Hamad Hareb Al Muhairi, Deputy Chair; Humaid Matar Al Dhaheri, Managing Director; and both Majed Sultan Al Mail and Kevin Murphy ...