February, 2020

• 8 February

  New ‘Breeze Air’ on track to fly this year, says Neeleman

  

  Bloomberg Breeze Airways, the latest offspring of serial airline entrepreneur David Neeleman, will start flying later this year with a fleet that will put his low-cost plans to the test. The new airline is standing by its early pledge to fly where it won’t face competitors and operate on days and times of highest demand, Neeleman said in an interview. ...

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• 8 February

  Jet Airways faces fresh warning signs as liquidation threat looms

  

  Bloomberg Bankrupt carrier Jet Airways India Ltd, once the nation’s biggest by market value, faces fresh warning signs as a deadline to avoid liquidation looms. Creditors will likely be forced into extending a February 17 deadline for the sale of the airline as the shortlisted bidders have yet to form bidding groups, according to people familiar with the matter. Time ...

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• 8 February

  Cathay Dragon’s staff urge halting mainland flights amid outbreak

  

  Bloomberg Employees of Hong Kong carrier Cathay Dragon have urged the company to suspend mainland China flights and are considering strikes or protests to press their demands. Staff of the Cathay Pacific Airways Ltd unit gathered on Saturday for an extraordinary general meeting where about 89% out of 467 votes supported “industrial action,” said Kim Lam, a representative of the ...

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• 8 February

  Virus scare empties malls on world’s priciest retail strip

  

  Bloomberg In an almost deserted mall, the few shoppers hurry past wearing face masks. In the luxury stores, sales assistants, also in masks, outnumber customers — if they have any at all. To pass the time, staff chat with each other or play with their phones. This isn’t a scene from some dystopian movie. Instead, in Hong Kong’s usually bustling ...

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• 8 February

  Firms withdraw from S’pore Airshow over virus

  Bloomberg More international aviation companies are withdrawing from the Singapore Airshow as concerns around the novel coronavirus outbreak mount. Organisers of the event, billed as Asia’s largest aerospace and defense conference, earlier announced it would proceed as scheduled with additional health screening and cleaning measures to reduce risks. The week-long show is due to kick off on February 11 and ...

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• 5 February

  UAE-Senegal trade reaches AED9.1 billion in five years

  ABU DHABI / WAM The commercial and economic ties between the UAE and Senegal have witnessed recent significant developments, with the value of their trade from 2014 to 2018 amounted to AED9.1 billion, according to statistics from the Federal Competitiveness and Statistics Authority (FCSA), and the Ministry of Economy. The official visit of Macky Sall, President of Senegal, to the ...

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• 5 February

  ECB chief warns coronavirus adds to economic uncertainty

  

  Bloomberg European Central Bank (ECB) President Christine Lagarde said her institution is on watch as the coronavirus outbreak provides a new threat to the economic outlook. The disease, which has spread worldwide after originating in China, has shuttered factories, cancelled flights and kept workers at home as governments try to stem the contagion. Lagarde’s comments suggest that the ECB, like ...

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• 5 February

  ‘Adnoc’ testing biofuel to reduce fuel consumption

  ABU DHABI / WAM Adnoc Logistics & Services will test biofuel as a bunkering fuel for ships, in an effort to comply with the 2020 sulphur cap, the company’s Chief Executive Officer Captain Abdulkareem Al Masabi said. Al Masabi stated that Adnoc has applied the regulations by November 2019 across its entire fleet, which totals 28 ships, and the company ...

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• 5 February

  Rakbank net profit hits AED1,095.3m in 2019

  

  RAS AL KHAIMAH / WAM The National Bank of Ras Al Khaimah (Rakbank), announced a consolidated net profit of AED1,095.3 million for the full-year of 2019, increasing by AED177.7 million over the previous year. According to a press release issued by the Bank on Wednesday, the growth in the bank’s net profit was driven by the improved net interest income, ...

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• 5 February

  Commercial complaints in Dubai decline by 54%

  

  DUBAI / WAM Commercial complaints in Dubai showed a remarkable decline in 2019, as sustained campaigns by Dubai Economy to reach out to traders and resolve their complaints amicably helped improve relations within the business community and enhance business competitiveness in Dubai. The Commercial Compliance and Consumer Protection (CCCP), sector in the Dubai Economy received 770 commercial complaints in 2019, ...

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