June, 2019

• 15 June

  American Air urges court to put end to ‘devastating’ labour slowdown

  

  Bloomberg American Airlines Group Inc. persuaded a federal judge to temporarily block an alleged work slowdown by mechanics that the carrier says has become “devastating” to its operations. American sought the order three weeks after asking for a temporary injunction against the TWU-IAM Association, which represents more than 30,000 mechanics, baggage handlers and other airport ramp workers. A July 1 ...

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• 15 June

  Mitsubishi to showcase renamed airliner SpaceJet at Paris air show

  

  Bloomberg The SpaceJet is not going to take you to the moon or Mars, but it can get you to a smaller city on earth without having to switch flights in Atlanta, Dubai or another big airport hub. The newly renamed regional jet by Mitsubishi Heavy Industries Ltd. is being showcased at the Paris Air Show next week, along with ...

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• 12 June

  Dubai property deals in Ramadan hit AED5.6bn

  

  DUBAI / Emirates Business The Holy Month of Ramadan has been eventful for the Dubai property market in 2019, both in terms of the volume and value of property transactions concluded. Property deals cumulatively worth AED5.6 billion ($1.5 billion) were transacted in Dubai solely during Ramadan this year, reveals analysis by the Research & Data team at Property Finder, the ...

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• 12 June

  Houthi missile targets Saudi’s Abha airport

  RIYADH / WAM The Official Spokesman for the Coalition to Restore Legitimacy in Yemen, Colonel Turki Al Malki, announced that a hostile projectile fired by the Houthi militia at 02:21 on Wednesday hit the arrivals hall at Abha International Airport through which thousands of passengers of different nationalities pass daily. The Saudi Press Agency (SPA) quoted Colonel Al Maliki as ...

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• 12 June

  UAE condemns attack

  ABU DHABI / WAM The UAE has strongly condemned the Houthi terrorist attack against Saudi Arabia’s Abha International Airport, which resulted in the injury of many civilians. In a statement, the MOFAIC said UAE strongly condemned this terrorist act which utilised military projectile capabilities, and deemed it as new evidence of the Houthi’s hostile and terrorist tendencies that seek to ...

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• 12 June

  ADIA to buy full ownership of New York office block

  

  Bloomberg Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, plans to buy out Vornado Realty Trust’s 25 percent stake in the midtown Manhattan office tower at 330 Madison Ave, according to a person familiar with matter. The deal would give the Abu Dhabi fund, already the building’s majority holder, full ownership. Vornado said it agreed ...

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• 12 June

  Aldar launches AED1.7 billion residential project for Emiratis

  

  ABU DHABI / WAM Aldar Properties on Wednesday launched Alreeman II, an AED1.7 billion master-planned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by UAE nationals. Alreeman II follows the success of Alreeman, launched in January 2019 which generated as much as AED1.6 billion in sales. Spread across an area of 2.4 million square metres, ...

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• 12 June

  Hub71, MIT Enterprise Forum Pan Arab partner to support Mena-based startups

  

  ABU DHABI / WAM Hub71, a global tech hub driven by Mubadala Investment Company in collaboration with Microsoft, SoftBank Vision Fund and Abu Dhabi Global Market, has announced a new partnership with MIT Enterprise Forum Pan Arab, part of a global network of chapters dedicated to promoting and enriching the entrepreneurship ecosystem in the Arab region. With the joint mission ...

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• 12 June

  TBHF pledges $216,000 to support Sinjar Action Fund

  

  Sharjah / Emirates Business The Big Heart Foundation (TBHF) signed an agreement with Nadia’s Initiative, founded by Nadia Murad, co-recipient of this year’s Nobel Peace Prize, to support the Initiative’s global advocacy efforts to rebuild Sinjar and enable the safe return of internally displaced Yazidis back to their homes. The UAE-based global humanitarian charity has pledged a $216,000 financial grant ...

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• 12 June

  Mohammed enacts new DIFC employment law

  

  DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued a new Employment Law for the Dubai International Financial Centre (DIFC). The newly-enacted Law No. 02 of 2019 compliments the DIFC’s commitment to international best practice, addressing key issues such as paternity leave, ...

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