July, 2018

• 29 July

  Air Canada warns of ‘short fuse’ on Aimia rewards plan offer

  

  Bloomberg Air Canada’s top executive turned up the heat on Aimia Inc. to accept its buyout offer for a Canadian frequent-flyer programme, warning that $1.5 billion in unpaid rewards liability would scare off any other suitors. The airline’s chief executive officer, Calin Rovinescu, said he’ll immediately restart talks with credit-card partners to create its own loyalty program if Aimia fails ...

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• 29 July

  Ryanair’s rivals trying to poach its disgruntled crew members

  

  Bloomberg Ryanair Holdings Plc’s rivals smell blood in the discount giant’s confrontation with its pilots and cabin crew and have pitched ‘Hiring Now’ signs in a bid to siphon off disgruntled staff. British Airways is extending a pilot hiring drive “in light of industry news,” according to a recruitment manager’s post on LinkedIn, while EasyJet Plc, Britain’s biggest low-cost carrier, ...

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• 29 July

  Amazon turns investor attention from growth to big profits

  

  Bloomberg Amazon.com Inc. investors have traditionally given it a pass on money-losing quarters and narrow profit margins so long as revenue growth kept surpassing expectations. That dynamic flipped, propelling the 24-year-old company into a potentially steadier phase. Amazon reported a record second-quarter profit of $2.53 billion, or $5.07 per share. The Seattle-based company has generated net income of $4.16 billion ...

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• 28 July

  ERC sends urgent food relief convoy to Yemen’s district

  HODEIDAH / WAM The Emirates Red Crescent (ERC), has sent an urgent relief convoy to the Tuhaita District and other liberated areas of the historic Zubid city in the governorate of Hodeidah as part of the UAE’s emergency relief response to the humanitarian situation in the Red Sea Coast liberated areas. The ERC said the urgent food assistance includes food ...

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• 28 July

  Car exporters to meet amid US tariff threat

  Bloomberg Major car-producing nations are due to meet without the US to discuss possibly coordinating their response to President Donald Trump’s threat of tariffs. Representatives of the European Union, Canada, Mexico, South Korea and Japan will convene in Geneva on July 31 to debate how to respond if the US imposes levies on car imports, as well as prospects for ...

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• 28 July

  UAE, India sign deal for $20bn AI benefits

  

  NEW DELHI / WAM The UAE and Invest India have on Saturday signed a Memorandum of Understanding for the India – UAE Artificial Intelligence Bridge which is dedicated to spur discussion and explore options for both countries to grow their artificial intelligence economies. This partnership will generate an estimated $20 billion in economic benefits during the next decade. Omar bin Sultan ...

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• 28 July

  Arab Bank group profit up 5%

  

  DUBAI / Emirates Business Arab Bank Group reported net income after tax for the six months period ended June 30 of $436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid ...

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• 28 July

  Gems of ‘Emirati culture’ to be in focus at Sao Paulo book fair

  

  SHARJAH / WAM In observing its premier status as Sao Paulo International Book Fair’s first-ever guest of honour, at its 25th edition, which runs from August 3-12, Sharjah will be putting its best foot forward in showcasing the gems of Emirati culture, with a special focus on their achievements in the past four decades. Sharjah’s pavilion at the book biennial ...

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• 28 July

  Founder’s Memorial attract 28,000 visitors since public opening

  

  ABU DHABI / WAM More than 28,000 people visited The Founder’s Memorial in Abu Dhabi, since its public opening on April 22, becoming one of the major landmarks of the emirate. The Memorial is a permanent national tribute to the Founding Father, late Sheikh Zayed bin Sultan Al Nahyan, and represents a window for the visitors to learn about life ...

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• 28 July

  VP names new board members of DIEDC

  DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister, has issued Decree No. (24) of 2018 appointing and replacing members of the Board of the Dubai Islamic Economy Development Centre (DIEDC). According to the Decree, the Chairman of the Board of the Awqaf and Minors ...

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