June, 2018

• 23 June

  Bombardier sees more CRJ jet orders after Delta

  

  Bloomberg Bombardier Inc. is building momentum to expand orders for its CRJ regional jets this year after securing a deal with Delta Air Lines, its second in two months. Delta agreed to purchase 20 of Bombardier’s CRJ900 aircraft valued at about $961 million based on list prices. The deal followed an agreement with American Airlines Group Inc. in May for ...

  Read More »
• 23 June

  Online retailers can be forced to collect tax, says US court

  

  Bloomberg The US Supreme Court freed states and local governments to start collecting billions of dollars in new sales taxes from online retailers, overturning a ruling that had made much of the internet a tax-free zone and put traditional retailers at a disadvantage. News of the ruling caused shares of Internet retailers including Amazon.com Inc. and Wayfair Inc. to fall. ...

  Read More »
• 20 June

  Mubadala buys 10% stake in Egypt gasfield

  Bloomberg Mubadala Petroleum on Wednesday announced that it has completed the acquisition from Italy’s Eni of a 10 percent participating interest in the offshore Shorouk Concession in Egypt, which contains the supergiant Zohr gas field. Following the completion, Eni, through its subsidiary IEOC, holds a 50 percent interest in the concession. The other partners in the concession are BP with ...

  Read More »
• 20 June

  DP World signs agreement to expand Canada port terminal

  

  DUBAI / WAM The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase 2B expansion will increase annual throughput capacity at Can-ada’s second largest container terminal to 1.8 million Twenty-foot Equivalent Units (TEUs), when complete ...

  Read More »
• 20 June

  Emirates Transport profit up 34%

  DUBAI / WAM Emirates Transport (ET) announced net profit of AED244.2 million for the year 2017, an increase of 34 percent on 2016, with revenues also boosted to AED2.558 billion, recording an increase of 6.8 percent compared to the previous year. In his introductory comments of the report, Hussain bin Ibrahim Al Hammadi, Minister of Education and Chairman of ET’s ...

  Read More »
• 20 June

  DED arm, ebooc to launch next-gen payment platform

  DUBAI / WAM Emcredit, a subsidiary of the Department of Economic Development (DED) in Dubai, and ebooc, has signed a memorandum of understanding (MoU) to launch a next-generation digital payment Point of Sale (POS) platform for Dubai. The MoU was signed by Ali Ibrahim, Deputy Director General of DED and Managing Director of emcredit Limited, and Muna Al Qassab, CEO ...

  Read More »
• 20 June

  Al Jaber: Global economic growth drives demand for oil, derivatives

  

  Abu Dhabi / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said that the oil and gas industry stands on the threshold of a historic step change in the demand for its products, driven by growth in every major market. Speaking at the opening keynote session, at a seminar titled, “Sustainable Global Energy Future” ...

  Read More »
• 20 June

  Emirates to deploy one-off A380 service to Muscat

  DUBAI / WAM Emirates will be operating a one-off A380 service to Muscat International Airport from July 1. The flight is part of the airline’s celebration of its 25th year of service to Oman this year, and also re-affirms the newly opened airport infrastructure to handle A380 operations. The new passenger terminal at Oman International Airport recently opened its doors ...

  Read More »
• 20 June

  ADFD allocates $18.3 million to healthcare projects in Yemen

  

  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and the Emirates Red Crescent (ERC) signed a Memorandum of Understanding (MoU) to manage the AED67million ($18.3 million) UAE government grant aimed to support the healthcare sector in Hadhramaut Governorate in Yemen. The grant aims to support three healthcare projects in Yemen’s ...

  Read More »
• 20 June

  Adnoc Distribution expands vehicle inspection facilities

  

  Abu Dhabi / Emirates Business Adnoc Distribution announced the launch of its first Vehicle Inspection Centre at an Adnoc Autoserv complex. The new facility, situated at Adnoc Distribution’s Sea Palace Autoserv location in Abu Dhabi, will be managed by Al Masaood’s Tyre, Batteries and Accessories Division and will offer customers comprehensive maintenance, vehicle testing and inspection services. The 1,350 square-meter ...

  Read More »