February, 2019

• 26 February

  Bamboo Airways plans order of 25 Boeing planes this year

  

  Bloomberg Vietnam’s Bamboo Airways plans to order as many as 25 narrow- and wide-body Boeing Co. aircraft this year as the nation’s newest carrier prepares for flights to the US and Europe, according to people familiar with the matter, who asked not to be identified because negotiations are underway. The deal would increase Bamboo Airways’ Boeing fleet to 55. The ...

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• 26 February

  Emaar Malls fully acquires online fashion retailer Namshi

  

  Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties PJSC, has fully acquired Namshi, the leading regional fashion e-commerce retailer. This follows acquiring the remaining stake of Global Fashion Group (GFG) in Namshi, in an all-cash transaction of AED 475.5 million. GFG and Emaar Malls entered into a strategic partnership in 2017 when ...

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• 25 February

  Mohammed okays $8.7b housing plan for Emiratis

  

  ABU DHABI / WAM Following the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the construction of 34,000 housing units for Emiratis across different parts of the UAE at a total cost of AED32 billion ($8.7 ...

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• 25 February

  Abu Dhabi hotel revenues up 73%

  ABU DHABI / WAM The hotel establishment revenues across the Emirate of Abu Dhabi increased circa 73 percent to AED1.8 billion in Q4 of 2018 from AED1.05 billion during the preceding quarter of the same year, according to the Statistics Centre- Abu Dhabi (SCAD). SCAD attributed the growth to the robust tourist infrastructure boasted by Abu Dhabi in terms of ...

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• 25 February

  FAB shareholders approve record AED8.06bn dividends

  

  ABU DHABI / WAM The shareholders of the First Abu Dhabi Bank (FAB) approved the distribution of 74 percent cash dividends (AED 0.74 per share) for the financial year ended on December 31, 2018 for registered, entitled shareholders, during the general assembly meeting (GAM). Commenting on FAB’s performance, Abdul Hamid Saeed, Group CEO of FAB, said, “Consistent with our commitment ...

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• 25 February

  Trump extends China trade truce

  

  Bloomberg President Donald Trump said he’ll extend a deadline to raise tariffs on Chinese goods beyond this week, citing “substantial progress” in the latest round of talks that wrapped up in Washington. “The US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other ...

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• 25 February

  DAE profit before tax soars 135%

  DUBAI / WAM Dubai Aerospace Enterprise (DAE) Ltd reported its financial results for full-year 2018. The total revenue reached $1,436.6 million, marking a rise of 70% from 2017. The profit before tax amounted to $428.8 million, up 135% from the previous year. Firoz Tarapore, CEO of DAE, said: “DAE continued to build on its unique strengths and platform capabilities, a ...

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• 25 February

  Emirati astronauts undergo winter survival training

  

  Dubai / WAM Emirati astronauts Hazzaa Al Mansoori and Sultan Al Neyadi have undergone a three-day winter survival training organised by the Yuri Gagarin Cosmonaut Training Centre in Zvezdini in the Russian capital Moscow. The training, which aims to prepare the astronauts to survive harsh winter conditions, is part of the ongoing preparations to send the first Emirati astronaut to ...

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• 25 February

  Mohamed bin Zayed writes to Grand Imam of Al Azhar

  CAIRO / WAM Dr. Ahmed el-Tayeb, Grand Imam of Al Azhar, has received a message from His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, thanking him for his recent visit to the UAE, during which, he met His Holiness Pope Francis, head of the Catholic Church, ...

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• 25 February

  UAE’s first astronaut going to space on September 25

  

  Dubai / WAM The Mohammed bin Rashid Space Centre (MBRSC), announced that September 25, will be the launch date of the first Emirati Arab astronaut’s trip to the International Space Station (ISS). The announcement came during a press conference held by MBRSC that featured Yousuf Hamad Al Shaibani, Director-General of MBRSC; and Salem Al Marri, Assistant Director-General for Scientific and ...

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