October, 2018

• 30 October

  Rallye faces new front in rift with short sellers

  

  Bloomberg Rallye SA, the indebted parent of French retailer Casino Guichard-Perrachon SA, may soon face a new front in its battle against short sellers. Distressed debt funds betting against the company have been buying up a Rallye bond due in January 2022 that may enable them to force a default, according to people familiar with the matter. That’s because the ...

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• 30 October

  Ryanair defends handling of racial abuse incident on flight

  

  Bloomberg Ryanair Holdings Plc defended its response to a case of racial abuse on a flight last week, saying the Irish carrier reported the matter to police as soon as it became aware of the incident. A video of the event, that went viral on social media, showed a white man racially abusing a black female pensioner. Cabin crew were ...

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• 30 October

  Boeing’s first Max crash leaves Indonesia scouring sea for clues

  

  Bloomberg More than a day after a brand-new Boeing Co. 737 Max jet flown by Indonesia’s Lion Air plunged into the Java Sea, the search for the plane failed to yield much as investigators continued the grim task of uncovering the cause of the deadly crash. Indonesia’s National Transportation Safety Board said in a statement on Tuesday that it’s scouring ...

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• 29 October

  KhalifaSat successfully launches into orbit

  

  DUBAI / WAM Marking a new milestone that adds to the UAE’s achievements and a new phase in the development of the national space sector, the Mohammed bin Rashid Space Centre (MBRSC) announced the successful launch of the Emirati satellite KhalifaSat into orbit. KhalifaSat is the first Emirati satellite to be 100 percent developed at the facilities of MBRSC in ...

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• 29 October

  UAE among top Islamic fintech start-up hubs

  

  DUBAI / WAM The UAE has been ranked as one of the world’s top Islamic fintech hubs with the country home to 12 start-ups specialising in this field, a new analysis from the Dubai Chamber of Commerce and Industry has revealed. The analysis, based on recent data from IFN Fintech, ranked the UAE fourth globally as an Islamic fintech hub. ...

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• 29 October

  Lion Air crashes into sea with 189 on board

  

  Bloomberg A Boeing Co. 737 Max jet, operated by Indonesia’s Lion Air, crashed in the Java Sea with 189 people on board, making it the model’s first accident and potentially the worst commercial aviation disaster in three years. Flight JT610, an almost brand new 737 Max 8, took off from the capital Jakarta at 6:20 am local time on Monday ...

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• 29 October

  Dubai Maritime Cluster, Panama boost cooperation

  DUBAI / WAM The Dubai Maritime Cluster Office of the Dubai Maritime City Authority (DMCA) announced the signing of a new memorandum of understanding (MoU) with the Maritime Cluster of the Panama Maritime Authority, reflecting another important addition to Dubai’s strategic partnerships with the world’s leading maritime communities. The MoU aims to enhance bilateral cooperation across maritime research, training, consul- ...

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• 29 October

  EDC to bolster its role in enabling defence, security industries sector

  

  Abu Dhabi / WAM The Emirates Defence Companies Council (EDCC), is preparing to launch a new strategy that aims to bolster its role in enabling UAE’s defence and security industries sector, said Mohamed Helal Al Muhairi, Director-General of the Abu Dhabi Chamber of Commerce and Industry and member of the Council’s Board of Directors. Al Muhairi made the remarks while ...

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• 29 October

  Gulfhost to feed needs of fast-growing foodservice market

  

  Dubai / Emirates Business GulfHost 2018, the complete hospitality equipment and sourcing expo for the Middle East, Africa and Asia, opens at Dubai World Trade Centre (DWTC) on Tuesday amid an expanding regional industry and sweeping shifts in consumer preferences as high-end hotels and mid-level options fight for market share with quick-service restaurants. The industry-shaping expo, which runs from October ...

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• 29 October

  Emirates unveils world’s first ‘biometric path’

  

  Dubai / WAM Emirates is gearing up to launch the world’s first “biometric path” which will offer its customers a smooth airport journey at the airline’s hub at the Dubai International airport. Utilising the latest biometric technology – a mix of facial and iris recognition – Emirates passengers can soon check in for their flight, complete immigration formalities, enter the ...

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