ABU DHABI / WAM Sheikh Zayed Housing Programme (SZHP), an initiative under the Ministry of Energy and Infrastructure (MoEI), on Wednesday announced the first batch of beneficiaries of housing loans and grants for 2023. As part of the new policy announced in May 2022, the programme has issued 550 decisions worth AED435.750 million in loans and grants. This brings the ...
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March, 2023
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8 March
Abu Dhabi set to host ‘Union Fortress 9’ military parade
ABU DHABI / WAM Abu Dhabi is set to host the ninth edition of the ‘Union Fortress 9’ military parade under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The announcement came during a preparatory meeting, held under the chairmanship of Major General Ali Saif Al Kaabi, Deputy Commander of the Presidential Guard, and several Ministry ...
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8 March
DP World announces first commercial use of its Boxbay system
DUBAI / WAM DP World has announced the first commercial use of its revolutionary Boxbay High Bay Storage (HBS) system at South Korea’s Pusan container terminal, which is world’s sixth-largest container port. This pioneering technology has put Dubai in the spotlight globally as DP World, a leading provider of smart end-to-end supply chain logistics, continues to adopt innovative ways to ...
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8 March
European energy prices jump as French nuclear concerns return
BLOOMBERG European energy prices rose amid fresh concerns about corrosion in France’s nuclear fleet, against a backdrop of strikes throughout the country and a cold snap elsewhere in the region. French power for next year jumped as much as 7.9%, the most since late January. Benchmark front-month Dutch natural gas also advanced. Electricite de France SA must review its program ...
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8 March
Boeing close to sealing 737 Max deal with Japan Airlines
BLOOMBERG Boeing Co is close to sealing an order from Japan Airlines Co (JAL) for at least 20 of its 737 Max planes, according to people familiar with the talks, beating out arch-rival Airbus SE and its competing A320neo aircraft family. After holding discussions with both manufacturers, JAL is leaning towards Boeing, the people said, asking not to be identified ...
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8 March
JetBlue’s New York-to-Paris flights 60% cheaper than Delta, American
BLOOMBERG Feeling the pinch of airfare inflation? JetBlue Airways Corp announced an expansion of its transatlantic service with daily nonstop, round-trip flights from New York City to Paris beginning on June 29, 2023. Main cabin fares start at $479, a price tag that’s roughly 60% lower than similar overnight departures on Delta Air Lines Inc and American Airlines Group Inc. ...
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8 March
Cathay posts first operating profit since before Covid-19
BLOOMBERG Cathay Pacific Airways Ltd posted an annual operating profit for the first time since 2019, after Hong Kong opened for quarantine-free travel again following more than two years of Covid restrictions. Operating profit in 2022 was HK$3.55 billion ($452 million), comfortably beating the HK$2.87 billion average estimate from analysts. Revenue grew 12% to HK$51.04 billion, Hong Kong’s main airline ...
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8 March
Lego posts small profit gain as retailer invests in growth
BLOOMBERG Lego Group reported the smallest increase in profit in three years as the world’s largest toymaker faced higher costs and invested heavily in production to meet rising demand. Net income rose 3.7% to 13.8 billion kroner ($2 billion) in 2022, the Billund, Denmark-based company said. Expenses jumped 22% and revenue rose 17% to 64.6 billion kroner, driving gains in ...
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8 March
City of London hopes for Brexit thaw after Northern Ireland deal
BLOOMBERG UK Prime Minister Rishi Sunak’s deal to solve the bitter dispute with the European Union (EU) over Northern Ireland’s trading arrangements has sparked hope in the City of London that the two sides could finally formalise a pledge to work together on setting rules for banks and financial markets. The so-called memorandum of understanding (MOU) on financial rules may ...
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8 March
Deutsche Bahn picks US banks for sale of its $21.3bn logistics unit
BLOOMBERG Deutsche Bahn AG has selected Goldman Sachs Group Inc and Morgan Stanley to advise on the potential sale of its DB Schenker logistics unit, which could be valued at as much as €20 billion ($21.3 billion), people with knowledge of the matter said. The German railroad operator is set to formally hire the two banks after a weeks-long pitching ...
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