Bloomberg Zimbabwe’s troubled national airline has failed to secure outside investment, dealing a blow to government plans to sell state-owned assets and secure much-needed revenue. The airline, which in October 2018 was placed under administration, a form of bankruptcy protection, received expressions of interest from 10 international investors and had short-listed three bidders. “A process to solicit for a strategic ...

Bloomberg Qantas Airways Ltd is slashing capacity on international flights in Asia by 15% and freezing recruitment as the coronavirus drives down travel demand. The reductions apply to flights to mainland China, Hong Kong and Singapore and will be in place until at least the end of May, the Australian airline said in a statement. The cuts are the equivalent ...

Bloomberg The guardians of the world economy are convening amid mounting fears that the coronavirus outbreak poses a greater threat to global growth than first envisaged. Finance ministers and central bankers from the Group of 20 nations began meetings on Saturday in the Saudi capital of Riyadh for the first time since the virus forced much of China to be ...

Bloomberg Oil fell as the coronavirus outbreak accelerated beyond China, intensifying concerns about the infection’s economic fallout. Futures fell 0.9% in New York. China revised how it calculates infection totals for the third time this month, raising questions about data reliability and confirming the virus’s growing reach. Meanwhile, a key IHS Markit gauge of factories and service providers in the ...

ABU DHABI / WAM Strata Manufacturing (Strata), the advanced composite aero structures manufacturing facility wholly-owned by Mubadala Investment Company PJSC, outlined its ability to expand production capabilities beyond traditional aerospace at the Unmanned Systems Conference in Abu Dhabi. At the conference, which took place on Saturday at Abu Dhabi National Exhibitions Centre (Adnec), Ismail Ali Abdulla, the CEO of Strata, ...

Dubai / emirates business The Dubai Airport Freezone Authority (Dafza) announced the conclusion of its participation in Gulfood 2020, the region’s largest food and beverage processing industry event. The event was held at the Dubai World Trade Center (DWTC) between February 16-20. Dafza’s pavilion witnessed a huge turnout from various stakeholders seeking to explore different services provided by the free ...

DUBAI / Emirates business The Roads and Transport Authority (RTA) and Careem officially launched the first-of-its-kind bike rental service in the region, providing 780 bicycles and 78 stations across Dubai under the project’s phase 1. The multi-phase project will provide 3,500 bicycles across 350 stations in Dubai upon completion. Mattar Mohammed Al Tayer, Director General and Chairman of the Board ...

DUBAI / WAM The Dubai Police signed a Memorandum of Understanding (MoU) with Smart Dubai aimed at enhancing mutual cooperation and collaboration in providing unique and advanced smart services. The MoU was signed by Brigadier Khalid Nasser Al Razooqi, Director of Artificial Intelligence (AI) at Dubai Police, and Wesam Lootah, CEO of Smart Dubai Government. Brigadier Al Razooqi said that ...

ABU DHABI / WAM Khalifa University of Science and Technology, organisers of the Mohamed Bin Zayed International Robotics Challenge (MBZIRC 2020) on Saturday announced the second edition of the $5-million (AED18.37 million) biennial international robotics competition kicks off on February 23 with 32 participating teams at the Abu Dhabi National Exhibition Center (Adnec). The three-day MBZIRC 2020 is co-located with ...

DUBAI / WAM The Business Registration and Licensing (BRL), sector in Dubai Economy reported that 4,692 Instant Licenses were issued since the launch of the service in July 2017 to date. Among the Instant Licenses issued, 3,448 were Commercial, 73.5 per cent, and 1,244 in the Professional, 26.5 per cent, category. The Instant License service provides a convenient model for ...