May, 2018

• 7 May

  Air France tumbles as CEO prepares to quit

  

  Bloomberg Air France-KLM Group is facing its biggest crisis in years as CEO Jean-Marc Janaillac prepares to quit amid a deepening labour conflict that the French government has warned is threatening its very survival. The stock dropped as much as 14 percent, the most since 2002. Even before today, the shares had lost 40 percent in value this year, making ...

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• 7 May

  Tom Brady’s meal-kit maker gets boost from Del Monte

  Bloomberg Purple Carrot, the meal-kit company that partnered with Tom Brady to create the quarterback’s TB12 line of food, is getting a boost from the fruit and vegetable giant Fresh Del Monte Produce Inc. Del Monte, which generates more than 40 percent of its revenue selling bananas, is investing $4 million in the Needham, Massachusetts-based startup. The deal gives Purple ...

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• 7 May

  US airlines are ready to party in Hawaii with a flood of seats

  

  Bloomberg Who doesn’t love a Hawaiian holiday? Airlines have recognized strong traveller demand for the Aloha State and are pouring on new service — even before Southwest Airlines Co. launches its planned entry into the market. American Airlines Group Inc. plans to begin a daily winter flight from Chicago to Honolulu on December 19. Hawaiian Holdings Inc. also plans additional ...

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• 6 May

  Aldar contributes AED36 million to Sandooq Al Watan

  Abu Dhabi / WAM Aldar Properties has announced a contribution of AED36 million to Sandooq Al Watan, the National Fund entrusted with the responsibility of promoting sustainable development, a decent life and a bright future for all the people of the UAE. The contribution was personally made by Aldar’s Chairman, His Excellency Mohamed Khalifa Al Mubarak. Aldar’s latest contribution to ...

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• 6 May

  Enoc sales volumes reach 249mn barrels

  DUBAI / WAM Enoc Group unveiled on Sunday that its sales volume in 2017 reached 249 million barrels, underpinned by the group’s strategic expansion of trading activities, retail operations, energy storage and petroleum product marketing efforts. Saif Humaid Al Falasi, Group CEO of Enoc, said, “The UAE is an integral player in the global energy landscape and is at the ...

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• 6 May

  Al Ahli to develop unique entrepreneurial, media hub

  

  DUBAI / Emirates Business A unique world-class pioneering project to facilitate and support the growth of local and international entrepreneurs and position the UAE as a leading light in global business innovation is being brought forward by Al Ahli Holding Group. The Dubai-based multi-diversified conglomerate is behind Nomad, a highly ambitious one million square foot entrepreneur and media hub which ...

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• 6 May

  Cargo traffic rises 8.9% at DWC in first quarter

  Dubai / WAM Cargo traffic at Dubai World Central (DWC) grew 8.9% during the first quarter of 2018, according to a report issued on Sunday by operator Dubai Airports. DWC handled a total of 229,831 tonnes of freight between January and March 2018, an increase of 8.9% compared to 211,144 tonnes during the corresponding period in 2017. During first three ...

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• 6 May

  Shuaa revenues up 4%

  DUBAI / Emirates Business Shuaa Capital on Sunday announced its Q1 financial results, with the firm maint- aining profitability. While group total revenues increased 4% to settle at AED 33.2 million (Q1 2017: AED 31.8 million), profits retreated to the AED 11.7 million mark (Q1 2017: AED 24.8 million) primarily as a result of lower interest income from its lending ...

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• 6 May

  UAE ministry inks deals to attract FDI

  

  DUBAI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) has signed Memorandums of Understanding (MoU) with several national consultancy firms, with the aim of strengthening their cooperation and supporting the flow of foreign investment to the country. The signing of the MoUs took place on Sunday at the ministry’s office in Dubai, and the list of consultancy ...

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• 6 May

  UAE president orders $200mn humanitarian aid for Pakistan

  

  ISLAMABAD / WAM The UAE and Pakistan have signed a $200 million cooperation agreement to execute Phase III of the UAE Pakistan Assistance Programme (UAE PAP). The signing comes in implementation of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, under the support of Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi ...

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