September, 2019

• 25 September

  Thomas Cook’s Condor gets $420m lifeline from Germany

  

  Bloomberg German airline Condor’s request for emergency financing was granted by Chancellor Angela Merkel’s government in a bid to get the tourist carrier through the winter after the demise of UK parent Thomas Cook Group Plc. The bridging loan worth 380 million euros ($420 million) must be approved by the European Commission and will be valid for six months, according ...

  Read More »
• 24 September

  UAE is a key player in global space economy

  

  Abu Dhabi / WAM Since its launch in 2017, the UAE National Space Programme has grown, achieving significant milestones, placing the country as a key player in the changing landscape of the global space economy. On September 25, Emirati astronaut Hazza Al Mansoori will embark on a mission to the International Space Station, marking the UAE’s burgeoning space sector goals ...

  Read More »
• 24 September

  Dubai sees 134% rise in realty deals from Sept 2

  

  DUBAI / WAM The Dubai Land Department (DLD), on Tuesday, announced a 134 percent increase in real estate transactions following the creation of the emirate’s new Higher Committee of Real Estate on September 2, which aims to avoid the duplication of projects in the sector and achieve a more sustainable balance between supply and demand. The committee was established by ...

  Read More »
• 24 September

  Hamriya Free Zone receives ‘fastest growing brand’ award

  SHARJAH / WAM Sharjah added another feather to its cap after the Hamriyah Free Zone Authority (HFZA), bagged the ‘UAE’s Fastest Growing Brand 2018-19’ award in India. Saud Salim Al Mazrouei, Director of HFZA and Sharjah Airport International Free Zone, also won the ‘Leader Award, in recognition of his continuous efforts to develop, improve and modernise the HFZA’s services and ...

  Read More »
• 24 September

  Trade tensions main global growth risk, says Lagarde

  

  Bloomberg Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though the trade tensions remain the top threat to the growth outlook. “It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk because of ...

  Read More »
• 24 September

  Saudi to waive ‘expat fees’ for industrial companies

  

  Bloomberg Saudi Arabia will waive the fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue. In February, King Salman approved a ...

  Read More »
• 24 September

  UAE firms to invest up to $7bn in food corridor, says Indian minister

  

  DUBAI / WAM UAE entities are expected to invest up to $7 billion in India’s food sector in the next three years as part of the UAE-India food corridor project that aims to secure the UAE’s food security, an Indian minister told Emirates News Agency (WAM). These entities, coordinated by Dubai-based Emaar Group, plan to invest up to $5 billion ...

  Read More »
• 24 September

  Emirates commissions solar plant to cut greenhouse gas

  

  Dubai / Emirates Business Emirates Flight Catering (EKFC), one of the world’s largest catering operations, has successfully commissioned a state-of-the-art solar power system across its premises, which is expected to deliver an annual reduction of 3 million kg of greenhouse gas emissions. This is part of EKFC’s continued investment in infrastructure to improve resource efficiency. EKFC’s latest initiative supports the ...

  Read More »
• 24 September

  Governments should have a strong focus on outcomes

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the continued improvement and enhancement of government processes and procedures are critical to enhancing the lives of individuals and ensuring better opportunities for future generations. Governments should have a strong focus on outcomes and seek ...

  Read More »
• 24 September

  UAE partners with ICAO, supports ‘No Country Left Behind’

  Abu Dhabi / WAM The UAE announced its support of the ‘No Country Left Behind’ initiative, the General Civil Aviation Authority (GCAA), announced on Tuesday. In a statement the GCAA said that it signed a Memorandum of Understanding (MoU), with the International Civil Aviation Organisation (ICAO), along with the Aviation Implementation Assistance Partnership, to support the initiative, which aims for ...

  Read More »