News

Singapore / AFP US aircraft maker Boeing said it had won a $440 million deal with Papua New Guinea’s flag carrier Air Niugini for four 737 MAX 8 planes. Announcing the deal along with Boeing at the final trade day of the Singapore Airshow, Air Niugini chairman Sir Frederick Reiher said the carrier needed the planes “urgently”. The airline currently ...

Bloomberg VF Corp., owner of the North Face, Lee and Wrangler clothing brands, sees change coming to its stable of brands as valuations begin to decline. Sluggish consumer demand has taken a toll on retail and apparel companies, leading VF to reevaluate what’s not working and what’s missing in its business, Chief Executive Officer Eric Wiseman said in an interview. ...

DUBAI / Emirates Business Michelin has announced that beginning of July 2016, it will be the sole source tire supplier for the main landing gear on the final assembly line for the Boeing 777-300ER (extended range), the 777-200LR (long range) and the 777 Cargo. As a result, this long-haul aircraft, which can transport up to 400 passengers on a flight ...

London / AFP Britain will vote on its membership of the European Union on June 23, Prime Minister David Cameron said on Saturday as he began the daunting challenge of persuading the country to stay in. He announced the date for the referendum after a two-hour cabinet meeting where he outlined the deal he struck in Brussels on Friday that ...

Moscow / Bloomberg Major oil-producing nations, seeking to curb a flood of supply that’s cut prices almost in half in the past year, agreed to wrap up talks on capping output by the start of March, according to Russia’s Energy Ministry. “We agreed that all consultations should be completed by March 1,” Energy Minister Alexander Novak told state TV on ...

Dubai / Emirates Business As it prepares to participate in the Gulfood 2016, UNIKAI Foods, one of the largest FMCG companies in the UAE, has reported a net profit of AED 13.5 million for 2015. UNIKAI is now looking to expand its operations following the remarkable competiveness in areas like quality, packaging, distribution, customer service, corporate governance, risk mitigation, talent ...

Ritika Sharma Emirates Business Considering ever-increasing rush of travellers between India’s commercial capital Mumbai and Dubai, Jet Airways, which works in alliance with UAE’s national carrier Etihad Airways, has announced increased frequency of flights between the two cities from March 1. Jet Airways is also starting one new flight from Indian capital New Delhi, making the Mumbai-Dubai and Delhi-Dubai sectors ...

ABU DHABI / WAM Dr. Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC), has received Ilyas Umakhanov Deputy Chairman of the Federation Council of Russia, and the accompanying delegation, at FNC headquarters in Abu Dhabi. During the meeting, they discussed ways to strengthen friendship and cooperation between the UAE and Russia in various fields.

ABU DHABI / WAM The UAE ports are among the world’s largest ports in terms of advanced equipment, capabilities, shipping and unloading, Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Federal Transport Authority – Land and Maritime, has said. He added that the UAE has been ranked first at the Arab level and10th ...

Dubai / Emirates Business DAMAC Properties has announced a major new project, destined to become another icon of Dubai’s real estate landscape. ‘AYKON City’ is a six tower luxury project comprising Dubai’s first all-suites, 80 storey AYKON Hotel and Residences, a 63 storey DAMAC Maison Serviced Hotel Residences, a 60 storey apartment tower, a 65 storey office tower and two ...