June, 2020

• 12 June

  Emirates announces four flights to Cairo

  

  DUBAI / WAM Emirates plans to operate four flights between Dubai and Cairo on June 14, 18, 19 and 21. Customers can also connect to these flights in Dubai from any destination on Emirates’ current network of 30 destinations in the GCC, Asia Pacific, Europe and the Americas. In a statement by the airline on Thursday, flights can be booked ...

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• 12 June

  Ajman shuts down factory selling fake engine oil

  AJMAN / WAM Ajman’s Department of Economic Development has seized counterfeit engine oil valued at AED20 million after an investigation revealed they were being marketed under international brand names in a factory in Ajman’s Industrial Area. Some 100,000 containers were confiscated by the Control and Consumer Protection Department, and the factory was immediately fined and closed, Ajman DED said in ...

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• 12 June

  Dubai promoted as ideal hub for African businesses

  

  DUBAI / WAM The Dubai Chamber of Commerce and Industry has announced that it recently kicked off a webinar series providing African business leaders and entrepreneurs with useful information about doing business in Dubai, and promoting Dubai as an ideal hub for African companies. The Benefits of Doing Business in Dubai series was organised by the Chamber’s representative offices in ...

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• 12 June

  Etihad Airways, Aldar retail ink major partnership deal

  

  Abu Dhabi / WAM Etihad Airways and Aldar Properties have entered into a historic partnership that brings benefits to UAE-based Etihad Guest members and shoppers in the UAE capital, Abu Dhabi. Through this exclusive agreement Etihad Guest members can now earn and spend their Etihad Guest Miles on purchases made with their Visa cards at three malls within Aldar’s retail ...

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• 11 June

  Nakheel reports rise in demand for villas with AED223mn sales

  

  Dubai / WAM Dubai property developer Nakheel has announced the increase in demand for villas, with sales worth AED223 million in the last three months, as buyers look for more indoor and outdoor living space to adapt to the ‘new normal’. According to a press release issued by the company on Thursday, Nakheel has sold 70 villas with a sales ...

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• 11 June

  Chesapeake Energy preparing bankruptcy as options dwindle

  

  Bloomberg Chesapeake Energy Corp is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the US shale revolution to senior lenders, according to people with knowledge of the matter. The dwindling options for a powerhouse that once rivaled Exxon Mobil Corp for title of king of American natural gas comes after CEO Doug Lawler’s ...

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• 11 June

  LNG market will recover to pre-virus levels, says Shell CEO

  

  Bloomberg Royal Dutch Shell Plc, the world’s largest liquefied natural gas (LNG) trader, expects buying and selling of the fastest-growing fuel to recover to levels seen before the pandemic. Global LNG demand took a severe hit when nations imposed lockdowns to combat the spread of the coronavirus, impacting the fuel’s use in everything from power plants to transport and factories. ...

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• 11 June

  PG&E readies $11b debt deal

  

  Bloomberg Utility giant PG&E Corp is readying an $11 billion debt-financing package that may be sold to investors as soon as next week as the company prepares to exit bankruptcy, according to people with knowledge of the matter. The financing includes $4 billion of high-yield bonds and a $750 million term loan led by JPMorgan Chase & Co, the people ...

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• 11 June

  Adani Green to invest $6b in solar deal

  

  Bloomberg Adani Green Energy will invest $5.96 billion to execute what it called the world’s largest solar order. The company will build 8 gigawatts of generation projects, while group company Adani Solar will construct 2 gigawatts of manufacturing capacity for solar cells and modules, it said in a stock exchange filing. The project takes Adani Green closer to its goal ...

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• 11 June

  Shanghai’s subsidies to support solar, wind

  

  Bloomberg Shanghai’s municipal government will extend subsidies for solar and offshore wind through 2021 while ending those for onshore wind as it tries to meet its target for renewable energy generation. Solar and offshore wind projects will be able to receive a maximum subsidy from the city government of 50 million yuan ($7 million) in total over five years, the ...

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