February, 2020

• 5 February

  Airbus, Boeing shutter China plants amid virus

  

  Bloomberg The aerospace industry is joining carmakers in shuttering Chinese plants in response to the coronavirus outbreak, with Airbus SE halting an assembly line and Boeing Co and Safran SA also closing facilities. Airbus’s plant in Tianjin, east of Beijing, has remained idle beyond the Lunar New Year holiday as travel restrictions present logistical challenges and the government advises people ...

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• 5 February

  Bombardier, Textron soar on report of private-jet deal talks

  

  Bloomberg Bombardier Inc jumped on a Wall Street Journal report that the Canadian maker of planes and trains is in talks to sell its private-jet unit to Textron Inc, which makes Cessna planes. Textron also surged on speculation that a deal would bolster its luxury-aircraft business. The negotiations have been going on for several weeks, and the terms of the ...

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• 4 February

  Oil rises as Opec, allies weigh virus impact on demand

  

  Bloomberg Oil traded near $51 a barrel in New York — recovering from a one-year low — as Opec+ officials gathered for an urgent meeting to assess the impact of the coronavirus on demand and consider how best to respond. An internal analysis presented to Opec+ technical experts in Vienna estimated a reduction in average global oil-demand growth of 200,000 ...

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• 4 February

  Chinese media praises UAE’s support to China amid outbreak

  ABU DHABI / WAM Chinese media outlets have praised the UAE’s support to China in its fight against the new coronavirus. All prominent media have highlighted the UAE’s symbolic gesture of illuminating important landmarks in the country with the Chinese flag and supportive messages in Mandarin. The reports also appreciated the message of support from His Highness Sheikh Mohamed bin ...

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• 4 February

  Adnoc signs deal to better protect natural habitat

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc); the Ministry of Climate Change and Environment (MOCCAE); and Environment Agency – Abu Dhabi (EAD), signed a framework agreement to explore opportunities for greater collaboration in environmental protection and conservation. Under the terms of the agreement, Adnoc and EAD will explore opportunities to build upon many years of successful ...

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• 4 February

  Dubai Investments net profit hits AED657.6m

  

  Dubai / WAM The total full-year net profit recorded by the Dubai Investments, which is listed on the Dubai Financial Market, amounted to AED657.6 million in 2019, compared to AED651.4 million in 2018. The company’s financial statistics showed that its earnings per share increased to EPS of 15.5 fils in 2019, compared to 15.3 fils in 2018. The company’s total ...

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• 4 February

  DP World handles 7m TEU in 2019

  

  Dubai / WAM DP World handled 71.2 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 2019, with gross container volumes flat year-on-year on a reported basis and up 1.0% on a like-for-like basis. Like-for-like gross volumes in fourth quarter of 2019 accelerated to 2.1% with growth driven by Asia Pacific and Africa. Jebel Ali handled ...

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• 4 February

  Yahsat wins best company of year award

  ABU DHABI / WAM Al Yah Satellite Communications Company (Yahsat), announced that it has won the Emiratisation Award from the Ministry of Human Resources and Emiratisation (MoHRE), in three categories. Yahsat was conferred the coveted prize for Best Company of the Year in the Establishments category, while two of its employees collected awards for Best New Emirati Employee and Best ...

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• 4 February

  Ferrari World Abu Dhabi to launch new attractions this year

  

  ABU DHABI / Emirates Business Ferrari World Abu Dhabi, the World’s leading theme park, is introducing exciting new attractions for guests of all ages in the lead up to its 10th anniversary this November. The state-of-the-art additions will include a Family Zone, set to open this March, as well as Roof Walk and Zip Line experiences confirmed for later this ...

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• 4 February

  Sheikh Mohammed allocates AED 500m for citizens’ welfare

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued a set of directives including the allocation of AED 500 million to enhance the quality of life for citizens across Dubai’s residential areas and the exemption of 422 financially distressed from paying housing loans in efforts ...

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