April, 2019

• 15 April

  ‘737 Max not suitable for certain airports’

  

  Bloomberg Before last month’s crash of a flight that began in Ethiopia, Boeing Co said in a legal document that large, upgraded 737s “cannot be used at what are referred to as ‘high/hot’ airports.” At an elevation of 7,657 feet — or more than a mile high — Addis Ababa’s Bole International Airport falls into that category. High elevations require ...

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• 15 April

  Wayfair extends ‘Way Day’ sale by 12 hours

  

  Bloomberg It’s not Black Friday — it’s Way Day. In a second-annual event, online home-decor retailer Wayfair Inc is offering its lowest prices of the year. The company promises “Black Friday-low prices on thousands of popular home furnishings, décor, housewares and home improvement products as well as free shipping.” Sales could be notably better than last year, according to Piper ...

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• 15 April

  Danone, Nestle offer water dispensers to combat plastic waste

  

  Bloomberg Two of the world’s biggest water companies are thinking outside the bottle about how to hydrate consumers as environmental campaigners take aim at the enormous amount of plastic waste the industry produces. Danone’s Evian plans to start selling an in-home water appliance featuring a balloon-like container that cuts down on plastic use, while Nestle SA is working on an ...

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• 14 April

  UAE, Korea renew AED20bn currency swap agreement

  

  ABU DHABI / WAM The Central Bank of the UAE (CBUAE) and Bank of Korea (BOK) renewed their bilateral currency swap agreement (BCSA), which was originally signed in October 2013 at a value of $5.4 billion, reaffirming their commitment towards promoting trade and financial cooperation between the two countries. The agreement, which contributed significantly to development of economic and financial ...

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• 14 April

  FAB foreign ownership limit hike lifts Abu Dhabi stocks

  

  Bloomberg Stocks in Abu Dhabi are poised to reach their highest since September 2014 after the main gauge’s largest constituent First Abu Dhabi Bank (FAB) PJSC implemented a decision to raise its foreign ownership limit. The lender’s shares gained as much as 4.8 percent on Sunday, the most in a month. The increased cap for foreigners could trigger passive inflows ...

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• 14 April

  Dubai theme parks to generate $5bn annual revenue by 2020

  

  DUBAI / Emirates Business Eminent speakers across the Middle East’s entertainment and retail industry will converge at the 5th edition of Theme Parks & Entertainment Development Forum to highlight the UAE’s tremendous growth in the sectors and discuss the way forward. The two-day event will kick off on April 16 at The Meydan Hotel, Dubai, and will focus on the ...

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• 14 April

  Dana Gas nets $39m receipts from Pearl Petroleum in Q1

  

  SHARJAH / WAM Dana Gas has announced that during Q1 2019, Pearl Petroleum received $112 million (AED411 million) from the sale of condensate, liquefied petroleum gas, and gas in the Kurdistan Region of Iraq (KRI). Dana Gas is a 35 percent shareholder in Pearl Petroleum and its share of such receipts by Pearl Petroleum is $39 million. This presents 117 ...

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• 14 April

  Etihad selects IBS software to transform operational efficiency

  

  ABU DHABI / Emirates Business Etihad Airways, the national airline of the UAE, and IBS Software (IBS), a leading provider of new generation IT travel solutions, have signed a contract to enhance the airline’s operations. This will be done by implementing IBS’ iFlight NEO Ops and iFlight NEO HUB systems as the core technological solutions that will help increase on-time ...

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• 14 April

  DXB, DWC ‘good to go’ for runway closure

  DUBAI / WAM Dubai Airports on Monday confirmed operations teams at both airports are ‘good to go’ for the commencement of the 45-day long refurbishment of the southern runway at Dubai International (DXB). The runway is nearing the end of its design life and requires a complete upgrade to accommodate future traffic growth. “Planning and preparations have been underway for ...

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• 14 April

  ADIBF exhibitor spaces sold out, 100 publishers on waiting list

  

  ABU DHABI / wam All Abu Dhabi International Book Fair (ADIBF), exhibition areas have sold out, with more than 100 publishers on the waiting list, the Department of Culture and Tourism – Abu Dhabi revealed on Sunday. At a press conference held at Manarat Al Saadiyat, DCT Abu Dhabi also announced that this year’s edition will see the introduction of ...

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