June, 2018

• 17 June

  American to pay $45mn to end airfare collusion suit

  

  Bloomberg American Airlines Group Inc. agreed to pay $45 million to end a consumer antitrust lawsuit that accused it and three other major US airlines of colluding to limit plane capacity and drive up domestic airfares. The Fort Worth, Texas-based carrier is the second to settle in the three-year-old litigation. Southwest Airlines Co. won preliminary court approval for its offer ...

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• 17 June

  Pentagon’s new copter for Afghans lacks lift of old Russian-made ones

  

  Bloomberg The US Army’s Black Hawk helicopters are less capable for some missions conducted by Afghanistan’s Air Force than the Russian-made ones they’re replacing, according to the Pentagon’s inspector general. It’s a setback six years after lawmakers started pushing for the US to stop buying the Mi-17 sold by Rosoboronexport, Russia’s state-owned weapons exporter, in light of President Vladimir Putin’s ...

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• 17 June

  Qantas Air ‘nosedives’ over Pacific after hitting jet wake

  Bloomberg A Qantas Airways Ltd. A380 superjumbo suddenly lost altitude for about 10 seconds more than 30,000 feet above the Pacific Ocean after flying through the wake of another plane. Flight QF94, two hours after taking off from Los Angeles to Melbourne on the night of June 10, plunged upon hitting the wake turbulence of another Qantas A380 that was ...

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• 17 June

  Toys ‘R’ Us mascot, orphaned by bankruptcy, finds home

  

  Bloomberg Geoffrey the Giraffe has gone from the morgue to the hospital. Toys ‘R’ Us, the toy retailer that’s liquidating in bankruptcy, found a New Jersey children’s hospital that was willing to take the 16-foot tall statue of the African mammal that stood in the lobby of its headquarters. The chain has held going-out-of business sales at its stores and ...

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• 13 June

  Arab coalition to deliver urgent aid to Hodeidah

  ABU DHABI / WAM Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, said that the Arab Coalition has prepared a large-scale and comprehensive surge plan for the rapid delivery of humanitarian aid to the Yemeni Governorate of Hodeidah, and surrounding areas. In a statement, the minister said food and essential supplies have been stocked and prepared for ...

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• 13 June

  Mohamed orders AED4.27bn in housing loans for Emiratis

  

  ABU DHABI / WAM In line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has instructed provision of housing loans worth AED4.27 billion in total, to 2,500 beneficiaries ...

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• 13 June

  Mubadala to launch European tech fund

  

  LONDON / WAM Mubadala Investment Company (Mubadala) of Abu Dhabi, on Wednesday announced its intent to create a $400 million fund to invest in leading European technology companies. The fund will be managed by Mubadala Ventures, the venture capital arm of Mubadala. SoftBank Group will participate as a strategic investor via its SIMI US Holdings I, Inc investment subsidiary. The ...

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• 13 June

  Emirates SkyCargo, Alibaba arm ink e-commerce pact

  DUBAI / WAM Emirates SkyCargo signed an MoU with Cainiao Smart Logistics Network Ltd (Cainiao), the logistics arm of the Alibaba Group, to jointly facilitate the delivery of cross-border parcels as Cainiao looks to expand its global logistics infrastructure with Dubai as a hub. Emirates SkyCargo and Cainiao will work closely to manage e-commerce shipments in Mideast and neighbouring regions ...

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• 13 June

  Dubai Chamber promotes emirate at Ukraine summit

  Dubai / Emirates Business The Dubai Chamber of Commerce and Industry participated in the 4th National Export Forum in Kiev where the organisation showcased Dubai’s economic prospects and competitive advantages as a strategic trade hub. Representatives from the chamber’s Azerbaijan office delivered a presentation highlighting Dub-ai’s global appeal and strengths including its ideal geographic location between East and West, world-class ...

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• 13 June

  Abu Dhabi to cut tourism fees

  ABU DHABI / WAM The Abu Dhabi Executive Committee has approved a proposal to reduce tourism fees from 6 percent to 3.5 percent and municipality fees from 4 percent to 2 percent. This came during a meeting of the Committee, which was presided over by Jassim Mohammed Buatabh Al Zaabi, Chairman of the Committee. The Committee also sanctioned a proposal ...

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