November, 2019

• 19 November

  UAE has the ‘best F-16 in world’: Lockheed Martin

  Dubai / WAM American defence giant Lockheed Martin described the UAE’s F-16, Block 60, fighters jets as “the best in the world,” praising the 40-year “strong partnership” with the country. Block 60 is considered the most advanced operational F-16 produced so far and features developed specifically for UAE Air Force. The UAE announced of signing a AED76 million agreement with ...

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• 19 November

  Boeing wins $7.5 billion order for 50 737 Max jets

  

  Bloomberg Boeing Co. secured orders for 50 737 Max narrow-body planes, padding its tally at the Dubai Airshow while building momentum for the grounded aircraft ahead of its potential return to the skies in coming weeks. Kazakhstan’s Air Astana signed a letter of intent for 30 jets, Boeing announced on Tuesday, while an undisclosed customer bought 20, according to a ...

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• 19 November

  Indian visitors to GCC set to rise 81% to reach 9.8mn in six years

  

  Dubai / WAM The number of Indian tourists travelling to the GCC is expected to increase 81 percent from 5.4 million in 2018 to 9.8 million in 2024, growing at a Compound Annual Growth Rate (CAGR), of 10 percent, according to the latest data published ahead of Arabian Travel Market (ATM, 2020). As destinations throughout the Middle East prepare to ...

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• 19 November

  UAE’s new defence giant inks $1bn weapons deal

  

  Dubai / Emirates Business Halcon, a regional leader in the production and supply of precision-guided weapons, has signed a $1 billion (AED3.6 billion) contract to deliver its Desert Sting-16 (DS-16) range of precision guided weapons to the UAE Armed Forces. Saeed Al Mansoori, CEO of Halcon, announced the landmark deal at Dubai Airshow 2019. Speaking on the sidelines of the ...

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• 19 November

  Mohamed recognises three winners of Reach Awards

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, recognised the winners of the 2019 REACH Awards on Tuesday at a ceremony held during the Reaching the Last Mile Forum in Abu Dhabi. Established by the Crown Prince of Abu Dhabi, the biennial ...

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• 19 November

  Sheikha Fatima urges global community to protect children

  Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union and President of the Supreme Council for Motherhood and Childhood, said that children have the right to live in safety and security, urging the international community to shoulder its responsibility towards children and to work with full capacity to enforce mechanisms and policies that would ...

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• 19 November

  DIB closes landmark 5-year $750mn sukuk

  

  Dubai / WAM Dubai Islamic Bank (DIB), successfully closed a $750 million 5-year Sukuk with a profit rate of 2.950 percent per annum, which is equivalent to 140bps over the 5-year Mid Swap Rate. The transaction is DIB’s second foray into the international capital markets in 2019, first being a $750mn Additional Tier 1 sukuk priced earlier this year. The ...

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• 19 November

  Sanad completes delivery of its 12th engine to Etihad

  

  Abu Dhabi / Emirates Business Sanad Capital (Sanad), the aerospace asset leasing and financial solutions company, has completed delivery of its 12th engine to Etihad Airways. The delivery marks the final tranche of a $280 million, 12 engine deal signed between the two Abu Dhabi aerospace companies in 2016. The 12-year sale and lease-back agreement between Etihad Airways and Sanad, ...

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• 19 November

  Fed’s money-market fix may affect where people park cash

  

  Bloomberg While the Federal Reserve has said short-term interest rates are back under control following September’s upheaval, its solution may be having knock-on effects for money-market investors. The amount of cash that was parked at the central bank’s facility for overnight reverse-repurchase agreements spiked to $27 billion. That’s the most since the end of the first half of 2019, when ...

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• 19 November

  Zimbabwe central bank halves key rate to 35%

  

  Bloomberg Zimbabwe’s central bank halved its key interest rate to 35%, joining the finance ministry in efforts to revive an economy hobbled by years of mismanagement. The decision reverses a move by the southern African nation’s newly formed Monetary Policy Committee (MPC) in September, which raised the rate from 50%. It follows the unveiling last week of the 2020 budget ...

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