Bloomberg TUI AG, the world’s biggest holiday company, plans to renew its jetliner fleet as rising oil prices begin to push weaker rivals to the wall. TUI is likely to turn options for close to 50 Boeing Co. 737 Max aircraft into firm purchases, giving it a total of 120 orders for the upgraded model, and is switching to more ...

HODEIDAH / WAM The Emirates Red Crescent (ERC) intensified its humanitarian, relief and development efforts in the liberated governorates and cities of Yemen last week, to answer the needs of the Yemeni people, in light of their difficult humanitarian conditions. The ERC is also working to make the Yemeni youth happy and achieving their dreams of family stability, through its ...

Bloomberg The International Energy Agency (IEA) made a direct appeal to OPEC and other major oil producers to boost output, warning that high prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA Executive Director Fatih Birol said. “Expensive energy is back at a bad time, ...

DUBAI / WAM DP World UAE Region underlined its commitment to support the diversification of the UAE’s economy and growth of its own manufacturing sector through innovation and SMART technology. In a keynote address to the third Future Manufacturing and Trade Summit 2018, Abdulla bin Damithan, Chief Commercial Officer of DP World UAE Region, called on manufacturers to create the ...

DUBAI / WAM Noor Bank and the Jumeirah Group on Tuesday announced a comprehensive partnership to launch a suite of premium rewards available to Noor Bank customers. As part of the roll-out, select retail banking clients will receive complimentary Jumeirah Sirius memberships that allow them to enjoy a range of exclusive experiences and privileges across Jumeirah’s extensive portfolio of luxury ...

Bloomberg The International Monetary Fund (IMF) said the world economy is plateauing as the lender cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets. On the eve of its annual meetings in Bali, Indonesia, the fund on Tuesday projected a global expansion of 3.7 percent this year ...

DUBAI / WAM Master developer Nakheel awarded a contract worth more than EUR5.6 million (AED23.7 million) ($6.45 million) for piling work at its 260-metre PALM360 luxury hotel and residential project on Dubai’s world-famous Palm Jumeirah. The company has named the Dubai branch of BAUER Spezialtiefbau GmbH, headquartered in Germany, for the work, which will take four months to complete. The ...

LISBON / WAM An official trade mission from the Sharjah Chamber of Commerce and Industry (SCCI) showcased investment opportunities, as well as various opportunities available in the emirate’s economic sectors in Lisbon, Portugal. The Sharjah trade delegation, headed by Abdallah Sultan Al Owais, SCCI Chairman, aimed to enhance economic cooperation and mutual investment between Sharjah and Portugal, under the framework ...

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, witnessed several sessions of the two-day “2nd Mohamed bin Zayed Majlis for Future Generations,” which was held at the Abu Dhabi National Exhibition Centre. His Highness Sheikh Mohamed bin Zayed attended sessions presented by ...

Dubai / WAM The Dubai Maritime City Authority (DMCA), has completed its preparations to host the Dubai Maritime Summit 2018 on October 28. Held under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, the summit aims to strengthen communication channels between international leaders in the maritime industry. ...