September, 2017

• 11 September

  Korean budget carrier sees room for air-fare reduction

  Bloomberg A new South Korean budget carrier says it can help push air fares down by as much as 30 percent and still stay profitable in a market already crowded with six rivals. Aero K Airlines Co., backed by venture capital funds, plans to use new, fuel-efficient aircraft and a base where airport levies are at least 60 percent cheaper ...

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• 11 September

  Pratt’s balky new jet engines get stepped-up scrutiny from India

  

  Bloomberg Regulators in India are stepping up scrutiny of Pratt & Whitney’s new jet engines as the US manufacturer tries to overcome glitches that have grounded some Airbus SE planes. The geared turbofan engines are now being inspected after as few as 350 hours of operation, down from initial plans for every 1,000 hours, Civil Aviation Minister Ashok Gajapathi Raju ...

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• 10 September

  UAE investments in AI to hit AED33bn in 2017

  

  ABU DHABI / WAM The UAE has secured significant strides in areas of Artificial Intelligence (AI), with the country’s investments growing by 70 percent over the past three years, and projected to hit AED33 billion by the end of this year, according to economic analysts. The figures drive home the fact that UAE is ready to embrace AI technologies, managing ...

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• 10 September

  Abu Dhabi smartest city in Middle East

  Abu Dhabi / Emirates Business The Abu Dhabi Systems and Information Center (ADSIC) announced that the emirate of Abu Dhabi has ranked first place in the Middle East in terms of indicators outlined by the 2017 Cities in Motion Index, which was published by the Spain-based University of Navarra’s IESE Business School. Now in its fourth Edition, the Cities in ...

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• 10 September

  ADNOC mulls listing 10% stake in fuel retail business next year

  

  Dubai / Reuters Abu Dhabi National Oil Co (ADNOC) could list more than 10 percent of its fuel retail business by early 2018 and one or two more businesses later as part of a major shake-up, sources familiar with the matter said. The listing for ADNOC Distribution, which manages petrol stations and convenience stores across the UAE as well as ...

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• 10 September

  Global halal industry valued at $2.3 trillion

  

  DUBAI / WAM The UAE has gone a long way in the international halal industry which is estimated at $2.3 trillion, according to Abdula Abdel- kader Al Moeini, Director General of Emirates Authority for Standardisation and Metrology (ESMA). China has been invited to participate in Global Halal Industry Platform which has been promoted during a tour by ESMA representatives in ...

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• 10 September

  Industrial strategy: AED165bn boost to Dubai’s GDP by 2030

  

  DUBAI / WAM Dubai’s industrial sector has seen significant progress this year, under a new strategy launched by the Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The Dubai Industrial Strategy, which entered the implementation phase earlier this year, aims to elevate the emirate into a global platform for ...

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• 10 September

  Emaar tops Forbes’ 100 leading realty developers list

  Dubai / Emirates Business Forbes Middle East welcomed representatives of the region’s leading real estate companies at an exclusive event, held to unveil its Top 100 Real Estate Companies in the Arab World for the second year running. The top 40 listed real estate developers have a combined market value of $90.5 billion, revenues of $18.1 billion, profits of $5.1 ...

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• 10 September

  Middle East coffee industry to reach $4.4bn in 4 years

  Dubai / WAM The ‘third wave’ coffee movement is fuelling the growth of the Middle East’s coffee industry, which is expected to climb to $4.4 billion by 2021, according to Euromonitor International. The new movement has seen a shift in consumer appreciation of coffee as an artisan, specialist and quality experience, rather than a commodity. As a beverage with multi-cultural ...

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• 10 September

  Mega-events to draw $44bn in UAE tourism value by ’20

  

  Dubai / Emirates Business Virtual reality concerts and matches, augmented reality apps, and immersive audiovisual will catalyze $44 billion in UAE tourism receipts by 2020, and transform the live entertainment and mega-event experience for millions of people across the Middle East and Africa. With the UAE enhancing its role as a global leisure, tourism, and entertainment hub, it is set ...

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