December, 2022

• 7 December

  Global aviation sector to return to profit in 2023

    Geneva / WAM The global aviation sector is set to return to profitability next year for the first time since the coronavirus pandemic broke out in Europe at the beginning of 2020, the International Air Transport Association (IATA) reported in Geneva. In statement carried by Deutsche Presse-Agentur (dpa), the IATA estimated total profit at some $4.7 billion is expected ...

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• 7 December

  UAE launches ‘Future 100’ initiative to support startups in new sectors

  

    Dubai / WAM In line with World Futures Day, the Ministry of Economy and the Government Development and the Future Office launched the “Future 100” initiative, aiming to support 100 startups in new sectors that will shape the future economy of the UAE. The initiative will annually highlight the top 100 startups that will promote the UAE’s readiness for ...

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• 7 December

  Bombardier to open service centre at Abu Dhabi Airport

  

    Abu Dhabi / WAM Abu Dhabi Airports announced the official ground-breaking of Bombardier’s new service centre for business aircraft, which is targeted to open in 2025 at the Abu Dhabi International Airport (AUH), with the capacity to fit up to four Global 7500 aircraft. The development of the new Bombardier MRO at Abu Dhabi International Airport is one of ...

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• 7 December

  UAE ministry launches automated system for employment contracts

  

    Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has launched an automated system to complete employment contracts without human intervention. The smart system aligns with the National Artificial Intelligence Strategy 2031, which aims to position the UAE as a global leader in artificial intelligence (AI) by developing an integrated framework to be adopted in vital areas ...

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• 7 December

  Emerge, Al Dahra ink deal to develop rooftop solar project

    Abu Dhabi / WAM Emerge, a joint venture between Masdar and EDF, and Al Dahra, one of the largest integrated agri-businesses in the Middle East, announced a strategic partnership to develop a rooftop solar photovoltaic (PV) installation at Al Dahra Food Industry at Khalifa Industrial Zone Facility Abu Dhabi (Kizad). The rooftop solar system will be installed on Al ...

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• 7 December

  UAE announces VAT changes in gold, diamond sector

    Abu Dhabi / WAM Pursuant to a resolution issued by the cabinet, the Ministry of Finance (MoF) on Tuesday announced the amendment of the VAT treatment on workmanship services when supplying gold and diamonds between registrants in the state. According to the resolution, there will be a temporary replacement for the definition of “goods” contained in Article (1) of ...

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• 7 December

  World of Coffee Dubai 2023 exhibition to host 1,000 firms, brands

  

  Dubai / WAM The World of Coffee Dubai 2023 exhibition, which is scheduled to be held from January 11-13, 2023, is preparing to host more than 1,000 international, regional, and local companies and brands from over 30 countries worldwide, surpassing the participation figures from its first edition. The three-day event, organised by DXB Live, the integrated event management and experiential ...

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• 7 December

  Jet Airways revival hits fresh snag as banks resist on funding

  

    Bloomberg Lenders to bankrupt Jet Airways India Ltd are resisting a court-approved resolution plan, further delaying the former No. 1 private airline’s return to the skies, according to people familiar with the matter and email communications seen by Bloomberg News. The primary dispute is about whether the new owners of Jet Airways need to pay more money into the ...

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• 7 December

  Lululemon’s biggest bull sees 42% gain

  

    Bloomberg Wall Street analysts are boosting price targets for Lululemon Athletica Inc before the company reports earnings on Thursday, predicting that brand loyalty for the maker of pricey yoga and exercise apparel will help the stock build on a two-month rally that’s erased most of its 2022 losses. At Cowen, John Kernan lifted his call on Lululemon to $542 ...

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• 7 December

  China’s air cargo carrier links with Freightos as bookings jump online

  

    Bloomberg China’s top air-cargo carrier is joining an online booking platform that’s revolutionising a $200 billion global market the way websites like Travelocity and Expedia digitised flight transactions for passengers more than two decades ago. Freightos Group announced that the air-logistics arm of China Southern Airlines Co will offer real-time rates, capacity and bookings on WebCargo, a Barcelona-based unit ...

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