February, 2018

• 26 February

  Flybe may get bid from airport operator Stobart

  

  Bloomberg Logistics specialist and airports operator Stobart Group Ltd. said it’s looking at putting together a bid for Flybe Group Plc, Britain’s biggest domestic airline, as the regional carrier grapples with declining earnings. Flybe shares rose the most in four years as Stobart said options include taking a non-controlling interest in a business that would make a cash bid for ...

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• 26 February

  London hubs could add 30 million passengers without new runways

  

  Bloomberg Two of London’s three biggest airports said they could add almost 30 million more passengers between them yearly without requiring extra runways. Stansted, the biggest hub for Ryanair Holdings Plc, plans to apply to raise a cap on annual passenger numbers by almost one-quarter to 43 million, owner Manchester Airports Group said in a statement. That would be 17 ...

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• 26 February

  Airbus super-jumbo sheds financial weight in revamped state aid deal

  

  Bloomberg Airbus SE’s revised deal with the countries that helped fund the A380 superjumbo almost two decades ago will help save the European planemaker more than $1.4 billion, according to a regulatory filing. Future obligations for refundable advances declined by about about 17 percent to an estimated $7.3 billion, Airbus said in its annual financial statements. While the balance includes ...

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• 26 February

  Southwest to review support animals in wake of dog bite of child onboard

  

  Bloomberg Southwest Airlines Co. is reviewing its policies on emotional support and service animals after a dog bit a young girl on the forehead aboard one of its planes. The dog was in the first row of seats against a bulkhead when the girl, about six years old, approached it after the owner had asked her to stay back, said ...

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• 25 February

  Adnoc Distribution posts AED1.8bn profit in 2017

  

  ABU DHABI / Agencies The UAE’s largest fuel and convenience retailer has reported strong Q4 and full year 2017 results, as Adnoc Distribution undertakes a major transformation program to improve performance even further. Adnoc Distribution, which listed on the Abu Dhabi Securities Exchange in December, posted an AED1.8bn profit for the year 2017 on revenue of AED19.8bn, the latter jumping ...

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• 25 February

  UAE ranked first globally in 50 development indices

  

  DUBAI / WAM According to the Global Competitiveness Report 2017-2018, the UAE has ranked first globally in 50 indices related to many vital community, services and development sectors. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said, “in 2007, after launching our first federal strategy, we took on ...

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• 25 February

  Envoys briefed on Expo 2020

  DUBAI / WAM UAE ambassadors and heads of the country’s missions abroad have praised the progress made in preparing for the Expo 2020 Dubai during a visit to the project site in Dubai. The visit was held on the sidelines of 12th UAE Ambassadors and Mission Heads Forum held in Abu Dhabi from February 18-22. The ambassadors were received by ...

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• 25 February

  UAE denounces Djibouti’s cancellation of DP world pact

  

  Bloomberg The United Arab Emirates denounced Djibouti’s cancellation of DP World Ltd.’s contract to run the Doraleh Container Terminal, calling it an “arbitrary” flouting of a signed agreement. “Djibouti government’s seizure of the Doraleh port is regrettable,’’ Minister of State for Foreign Affairs Anwar Gargash wrote on Twitter, in the UAE’s first official response to the cancellation of the Dubai ...

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• 25 February

  FAB okays record AED7.6bn dividend

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) has successfully concluded its annual General Assembly Meeting on Sunday at FAB’s head office in Abu Dhabi. During the meeting, the distribution of 70 percent cash dividends — AED0.70 per share — for registered, entitled shareholders for the financial year ended December 31, 2017 were approved. Owners of FAB shares registered ...

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• 25 February

  UAE reaffirms its commitment to back G5 Sahel Joint Force

  

  BRUSSELS / WAM The UAE has reiterated its commitment to support the G5 Sahel Joint Force, comprising Mali, Chad, Niger, Burkina Faso and Mauritania, to promote development, stability and combat terrorism and extremism. This announcement was made during the participation of a UAE delegation, led by Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, Minister of State ...

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