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DUBAI / WAM Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had signed long-term lease agreements for seven Airbus A321neo aircraft with IndiGo, India’s largest passenger airline. All seven aircraft will be powered by CFM International’s Leading Edge Aviation Propulsion (LEAP) engines and are scheduled to be delivered in 2021. Firoz Tarapore, Chief Executive Officer of DAE said, “We ...

Bloomberg Reliance Industries Ltd has started carving out its new oil-to-chemicals operation into an independent unit with a $25 billion loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including ...

Bloomberg President Joe Biden seeks to repair relations with Canada that have been strained by disputes over trade and an oil pipeline as he meets virtually with Prime Minister Justin Trudeau. The two leaders plan to unveil a road map on how to improve cooperation on a range of topics, from global alliances to the coronavirus, according to a senior ...

Bloomberg Chancellor Angela Merkel’s government is weighing as much as 50 billion euros ($61 billion) in additional debt spending to fight fallout from coronavirus crisis. Germany’s coronavirus cabinet discussed the financing for Covid-19 tests and other measures to support Europe’s largest economy. The funding — equivalent to about 1.5% of German gross domestic product — reflects an initial estimate, and ...

Bloomberg UK unemployment climbed to its highest rate in almost five years in the fourth quarter as the economic toll from the coronavirus pandemic continued to mount. The number of people looking for work rise 121,000 from the third quarter, taking the jobless rate to 5.1%, the most since early 2016, the Office for National Statistics said on Tuesday. The ...

Bloomberg Statistics Canada backtracked on its decision to revise down estimates of underlying inflation, raising questions whether the agency has a full grasp of the real state of price pressures in the economy. In a rare move, the agency said it’s reversing a methodological change — unveiled only five days ago — that lowered some readings of core prices. After ...

Abu Dhabi / WAM The second day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 11 new deals, worth AED 7.293 billion, with local and international companies. The cumulative value of deals signed at Idex and Navdex 2021 is now AED12.323 billion. Staff Brigadier-General Mohammed Al Hassani, Official ...

Abu Dhabi / WAM His Highness Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation, has inaugurated the Emirati multi-mission vessel “Saadiyat”, marking its joining to the UAE Navy’s existing fleet. During the celebration, HH Sheikh Nahyan expressed his pride in joining the members of UAE’s naval ...

Abu Dhabi / WAM The launch of the 15th edition of the International Defence Exhibition and Conference (Idex) and the Naval Defence and Maritime Security Exhibition (Navdex) 2021 at the Abu Dhabi National Exhibition Centre (Adnec) heralded a period of recovery from the coronavirus (Covid-19) pandemic, underscoring the importance of global cooperation in addressing the impact of the pandemic on ...

Bloomberg Democrats begin the final push for President Joe Biden’s $1.9 trillion stimulus bill this week, dropping any pretense of bipartisanship to quickly pass the package before an earlier round of benefits runs out. This will be the first real test for Democrats’ full control of government since former President Donald Trump’s impeachment trial, with implications for the rest of ...