April, 2018

• 17 April

  Allegiant Airlines drops after TV report on ‘midair breakdowns’

  

  Bloomberg The parent of Allegiant Airlines dropped following a “60 Minutes” segment detailing a high number of what the programme called “midair breakdowns” at the budget carrier. “Public documents show an alarming number of aborted takeoffs, cabin-pressure loss, emergency descents and unscheduled landings,” according to a report the CBS programme. The segment included interviews with shaken passengers and prominently featured ...

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• 16 April

  Global economy to grow 3.5%

  NEW YORK / Reuters The global economy is set to grow at a faster clip than anticipated in 2018, due mostly to lower tax rates in the United States, but tensions over trade threaten to derail months of synchronised global expansion, the Institute of Internatio-nal Finance (IIF) said on Monday. The Institute, a global financial industry association, lifted its forecast ...

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• 16 April

  ADGM named ‘fintech regulator of the year 2018’

  ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) in Abu Dhabi, has been awarded fintech Regulator of the Year 2018 at the 2018 Seamless Middle East Awards held in Dubai. The Seamless Awards is an annual platform that recognises trail-blazing companies and individuals from the finance, ecommerce and retail industries that have demonstrated unparalleled ...

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• 16 April

  UAE, South Korea discuss defence, military relations

  ABU DHABI / WAM Minister of State for Defence Affairs Mohammed Al Bowardi this morning welcomed the visiting South Korean Defence Minister Song Young-moo and his accompanying delegation. During the meeting, Al Bowardi praised the relations between the UAE and South Korea, saying they are witnessing progress and development in various fields. The UAE Minister and his South Korean counterpart ...

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• 16 April

  Aldar launches AED10bn Alghadeer masterplan

  

  ABU DHABI / Emirates Business Aldar Properties announced the launch of a new AED10 billion masterplan that will incorporate and greatly enhance one of its already established destinations — Alghadeer, which sits close to the border of Abu Dhabi and Dubai within its Seih Al Sdeirah landbank. Alghadeer masterplan consists of 14,408 units, including villas, townhouses, and maisonettes. Total residential ...

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• 16 April

  Google launches free programme in Arabic to develop digital skills

  CALIFORNIA / WAM Google announced the launch of ‘Maharat min Google’, a free digital skills-building programme in Arabic, in an effort to help people in Mena find jobs, advance their careers or grow their businesses. Based on a blended learning model, Maharat min Google provides free courses, tools, and in-person digital skills training to students, educators, job seekers and businesses. ...

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• 16 April

  Mena pharma market to top $44bn by ’20

  

  Abu Dhabi / Emirates Business UBM EMEA, the organiser of the leading global pharmaceutical exhibition CPhI, has announced the Middle East and Africa edition will make its regional debut in the UAE capital at the Abu Dhabi National Exhibition Centre (Adnec) from September 3-5. “The exhibition is designed to increase partnerships and business opportunities on both a local and international ...

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• 16 April

  Gulf SME sector to employ 22mn people in five years

  

  DUBAI / Emirates Business The introduction of Value Added Tax (VAT) in the UAE has served an opportunity for small and medium enterprises (SMEs) to review their processes and identify opportunities to streamline operations. UAE’s SMEs are key to driving economic growth, innovation and job creation in the region. According to a new study by MENA Research Partners (MRP), SMEs ...

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• 16 April

  Stanford Marine in talks to restructure $325 million in debt

  DUBAI / Reuters Stanford Marine Group, majority owned by a fund managed by private equity firm Abraaj Group, is in talks with banks to restructure a $325 million Islamic loan, banking sources said. The Dubai-based oil and gas services firm has asked banks to consider extending the maturity of its debt and restructuring repayments, the sources said. A fund managed ...

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• 16 April

  Emirates offers special summer fares

  

  Dubai / Emirates Business Emirates is offering special early bird fares for UAE travellers to destinations within its global network. Travellers who book in advance can enjoy special fares starting Monday until April 30 this year and applies to select travel periods. Economy Class passengers can enjoy fares to the Middle East starting from AED795, to Europe starting at AED2,135, ...

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