May, 2018

• 5 May

  Southwest plane with cracked window diverts for inspection

  

  Bloomberg A Southwest Airlines Co. jetliner made an unscheduled landing after a window cracked, two weeks after an accident on a separate plane in which a passenger was partially sucked out of a destroyed window and died. Flight 957 from Chicago-Midway to Newark, New Jersey, didn’t lose cabin pressure as it diverted to Cleveland, Southwest said in a statement. An ...

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• 5 May

  H&M chairman’s buying spree triggers stock reversal

  

  Bloomberg Hennes & Mauritz AB Chairman Stefan Persson may be single-handedly propping up shares in the Swedish fashion retailer. In April alone, the billionaire acquired about 18.2 million shares in Stockholm-based H&M for $278 million, bringing the value of purchases since the beginning of last year to 13.4 billion kronor. The transactions mean that Persson and his family now hold ...

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• 5 May

  Runway lights baffled pilots on night of San Francisco near-miss

  

  Bloomberg Construction lights were so bright they were confusing to pilots who tried to land at night in July 2017 when a fatigued Air Canada crew almost struck four aircraft on the ground in San Francisco, according to preliminary reports. The National Transportation Safety Board (NTSB) released more than 500 pages of investigative reports, including a video recording of the ...

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• 2 May

  IBM opens innovation centre in Abu Dhabi

  ABU DHABI / Emirates Business IBM announced the launch of its innovation and industry client center in Abu Dhabi. Inaugurated under the patronage of the Abu Dhabi Government, the center aims to fast track the digital transformation of both public and private organisations through advanced technologies in artificial intelligence, cloud, blockchain, security, analytics, IoT and quantum computing. The inauguration took ...

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• 2 May

  Emirates Islamic wins accolades

  DUBAI / Emirates Business Emirates Islamic has won ‘best Islamic banking brand’ award from Global Brands Magazine, an independent leading brand publication that was established with the aim of honouring excellence in brand performance. The award reaffirms the bank’s excellence in innovation, improvement in customer service, and overall credentials as a leading Islamic bank in the UAE. Wasim Saifi, Deputy ...

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• 2 May

  Dubai automotive parts trade valued at AED39.9bn in 2017

  

  DUBAI / Emirates Business Dubai’s trade for auto parts and accessories was valued at AED39.9 billion in 2017, a three percent increase over the previous year (AED38.7 billion), according to figures released by Dubai Customs on Wednesday. Imports of tyres, batteries, engine components and systems into Dubai were valued at AED22.35 billion last year, while the value of exports and ...

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• 2 May

  Adnoc arm to handle Borouge container terminal operations

  ABU DHABI / WAM Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (Adnoc), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations. The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and Adnoc ...

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• 2 May

  Transguard posts record revenues of AED2.3 billion

  

  Dubai / WAM UAE-based Transguard Group on Wednesday released its annual figures for the financial year ending March 31, revealing another record, with revenue, profitand headcount increasing across the board. The figures, audited by PricewaterhouseCoopers, highlight the gro-up’s strength in the market, gene- rating revenue of more than AED2.3 billion, a 22% increase over the previous year and profit over ...

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• 2 May

  Space start-ups see $2.5bn investments

  Abu Dhabi / Emirates Business A total of 217 space sector start-ups and entrepreneurs received funding exceeding $2.5 billion throughout 2017, with 14 having been founded in the Middle East, audiences heard at the final day of the Global Aerospace Summit in Abu Dhabi. Of the 217, 121 are based in the US, according to Mark Boggett, Managing Director of ...

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• 2 May

  UAE and New Zealand keen to bolster trade, investment ties

  

  Wellington / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Winston Peters, New Zealand’s Deputy Prime Minister and Minister of Foreign Affairs. During the meeting, the two sides discussed means to advance relations between the UAE and New Zealand, and to strengthen frameworks of cooperation across various sectors, including the trade ...

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