February, 2023

• 16 February

  Ben Hudson, David Harman named Q Properties CEO, CDO

  

    Abu Dhabi / Gulf Time “Q Holding”, Abu Dhabi’s major investment conglomerate, announced the appointment of two senior executives to lead its subsidiary, “Q Properties”, in its new phase of development. “Q” appointed Ben Hudson as the new Chief Executive Officer (CEO) and David Harman as the Chief Development Officer (CDO) of the group’s development arm, “Q Properties”, paving ...

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• 16 February

  Abu Dhabi powerboats to Kopiko for Formula 1 opening round

  

    Abu Dhabi / Gulf Time Abu Dhabi powerboat team’s star and Emirati champion Thani Al Qamzi is gearing up for a new season of “Formula 1 World Championship” to be held in the Indonesian city of Kopiko. The first round is scheduled to take place February 24- 26. Famously known as “The White Shark”, Thani Al Qamzi is preparing ...

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• 16 February

  Air India to buy 470 Boeing, Airbus jets in record order

  

    Bloomberg Air India Ltd announced a 470-plane order with Airbus SE and Boeing Co in what stands to be the largest purchase in commercial aviation history, underscoring the industry’s recovery from the coronavirus pandemic and the airline’s ambition to become a global force after years of contraction. The carrier will purchase 250 Airbus jets including 210 A320neo family aircraft ...

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• 16 February

  Lufthansa grounds fleet as cable damage crippled IT

  

  Bloomberg Deutsche Lufthansa AG grounded all of its flights on Wednesday after damage to a set of Deutsche Telekom AG broadband cables caused widespread IT problems. Some flight operations have resumed, though all flights in Frankfurt, its main base, remain grounded, a spokesman said. Lufthansa expects the problem to be resolved by early evening. Lufthansa’s global flight operations centre is ...

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• 16 February

  H&M forms venture to sort textile waste, recycle used garments

  

    Bloomberg Hennes & Mauritz AB is expanding into the business of textile-sorting as it forms a venture to deal with waste in the fashion industry. The Swedish retailer has created a joint venture with recycling company Remondis with the aim of extending the life of about 40 million garments in 2023. The business, called Looper Textile Co, will collect ...

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• 16 February

  To go climate-positive, Ikea needs to fix its furniture glue

  

  Bloomberg Ikea’s path to achieving its 2030 climate goals is paved with the usual tactics, including boosting renewable energy use and reducing the climate footprint of its materials. But tucked among those challenges is a rather unexpected carbon culprit: the glue that holds some of the flat-pack furniture giant’s most popular products together. The adhesive Ikea uses to make its ...

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• 16 February

  US probes United flight that plunged to ocean near Hawaii

    Bloomberg US authorities have opened an investigation into a United Airlines Holdings Inc flight that dropped toward the Pacific Ocean shortly after taking off from Hawaii in December. The National Transportation Safety Board said in a tweet that it will formally review the incident, which didn’t result in any injuries. It expects to have a preliminary report ready in ...

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• 16 February

  Amazon staff plan strike at UK warehouse

    Bloomberg Amazon Inc workers will stage a week-long strike at a warehouse in Coventry, UK, next month in a dispute over pay, according to trade union GMB. The walkout is timed to maximise disruption for Easter weekend and slow product delivery, a GMB spokesperson told Bloomberg. It follows a day-long strike at the warehouse late last month, a first ...

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• 16 February

  Ford invests $3.5 billion in EV battery plant with Chinese firm

  

  Bloomberg Ford Motor Co is investing $3.5 billion in an electric-vehicle (EV) battery plant in southwest Michigan that it will operate with technology and support from a Chinese battery maker that has stirred political controversy. The factory near Marshall, Michigan, will employ 2,500 workers, Ford said, confirming a Bloomberg report. The facility is set to open in 2026 and will ...

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• 16 February

  Singapore’s Aspire snags $100m even as VC market slows

  

    Bloomberg Aspire Pte, a fintech startup serving businesses, raised $100 million in a round that more than doubled its valuation, defying a market downturn for young tech firms. The Singapore-based company said in a statement it struck a deal for financing led by Lightspeed and Sequoia Capital Southeast Asia. Paypal Ventures, Tencent Holdings Ltd, LGT Capital Partners and previous ...

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