June, 2019

• 16 June

  Airbus mulls world’s first hybrid-electric airliner

  

  Bloomberg Airbus SE is considering bringing the world’s first hybrid-electric airliner to market as it weighs its strategy for replacing the bread-and-butter A320neo narrow-body in the next 15 years — a move that would mark a technological leap for the aerospace industry. The European planemaker has grown confident that the revolutionary propulsion system will be ready for roll-out on an ...

  Read More »
• 16 June

  Europe aims to make prototype for new fighter plane by 2026

  

  Bloomberg France, Germany and Spain will move a step further to building a new combat plane on Monday at the Paris Air Show when defense ministers will sign a cooperation accord to produce a prototype. The three European countries are aiming to produce the prototype in 2026, the French president’s office said. The project was launched in 2017 by President ...

  Read More »
• 16 June

  Southwest Air extends 737 Max cancellations

  

  Bloomberg Southwest Airlines Co. pulled the Boeing Co. 737 Max from its schedule for an additional month, citing uncertainty over when regulators will allow the jet to resume service. Southwest, the narrow-body aircraft’s largest operator, will cancel about 100 daily flights as the Max is removed from schedules through September 2, the Dallas-based carrier said in a statement. The airline ...

  Read More »
• 16 June

  Target fixes system-wide register glitch

  Bloomberg Target Corp. said a system-wide outage that prevented customers from making purchases at its stores has been fixed. The two-hour outage, which affected its registers, was caused by an internal technology problem, the retail chain said, without giving more details. “Our technology team worked quickly to identify and fix the issue,” Target said in an emailed statement. “After an ...

  Read More »
• 16 June

  Tesco suffers from weak UK market

  

  Bloomberg Amazon.com Inc. stepped up its push into the UK, threatening Tesco Plc with tougher competition as Britain’s largest retailer said it’s feeling the squeeze from Brexit-related political turmoil. The US online giant is expanding its alliance with Wm Morrison Supermarkets Plc to offer groceries in more cities across the UK. The move puts more pressure on rival grocers, including ...

  Read More »
• 15 June

  UAE top FDI recipient in Arab world

  

  Abu Dhabi / WAM The UAE ranked 27th globally in attracting foreign direct investment (FDI) flows in 2018, according to the United Nations Conference on Trade and Development’s World Investment Report 2019, three positions up from its 2017’s classification by UNCTAD. Overall, the report said, the UAE received in 2018 direct foreign investments of more $10.4 billion, maintaining lead as ...

  Read More »
• 15 June

  Saudi seeks to balance oil markets before 2020

  

  Bloomberg Saudi Arabia is working to balance global oil markets this year, the country’s energy minister said when asked if there’s an impending surplus. The comments come a day after the International Energy Agency forecast global supplies will expand far more than demand next year, putting further pressure on Opec. Saudi Arabia and its allies, including Russia, are expected to ...

  Read More »
• 15 June

  Cabinet okays formation of Advanced Skills Council

  ABU DHABI / WAM The UAE Cabinet adopted formation of the Advanced Skills Council under the chairmanship of Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills, to oversee relevant policies, programmes and initiatives. The council will support and oversee the implementation of the recently approved Strategy for the Advanced Skills National ...

  Read More »
• 15 June

  Crude records weekly decline as demand woes blunt tanker attacks

  

  Bloomberg Oil posted a weekly decline as the escalating US-China trade war and swelling American stockpiles overshadowed tanker attacks in the Middle East. Futures settled up 0.4 percent in New York but still closed the week down 2.7 percent. London-traded contracts slid for a fourth straight week. The White House blamed Iran for tanker attacks near the Strait of Hormuz, ...

  Read More »
• 15 June

  UAE, EU discuss cooperation, ties

  ABU DHABI / WAM Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC), received the Secretary-General of the European External Action Service (EEAS) Helga Maria Schmid, at the FNC headquarters. During the meeting, they discussed cooperation between the UAE and European Union (EU) in a number of areas in view of the existing partnership between the two sides ...

  Read More »