August, 2023

• 22 August

  American Airlines pilots approve record contract with higher pay

  

  BLOOMBERG American Airlines Group pilots approved a new contract that would provide 46% in cumulative pay raises and retirement contributions over its four-year term, along with a bonus, improved scheduling, sick leave and insurance benefits. The pact will add about $9.6 billion in incremental costs for the airline over its duration, the Allied Pilots Association said in a statement. That ...

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• 22 August

  N Korea flies world’s worst airline to Beijing for first time since 2020

  

  BLOOMBERG North Korea’s state airline made its first international trip since the start of the Covid pandemic, in a sign of easing border restrictions that could repatriate its stranded nationals abroad and increase trade with its powerful neighbour. Flight data indicates than an Air Koryo passenger jet flew from Pyongyang to Beijing  on Tuesday, which would be the first such ...

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• 22 August

  India to get nine new ‘greenfield’ airports

  

  NEW DELHI / WAM India will build nine new “greenfield” airports to meet the steep rise in domestic and international air passenger traffic. In addition, 41 existing airports in India are being upgraded with state-of-the-art infrastructure and new facilities at a cost of about $12 billion. The high capital expenditure plan for upgrading existing airports with heavy traffic is being ...

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• 22 August

  DXB welcomes 41.6m guests in H1

  

  DUBAI / WAM Dubai International (DXB) has announced a significant milestone in its recovery with passenger traffic for the first half of the year surpassing 2019 levels. The world’s busiest international hub welcomed 41.6m guests in H1, just over 100%, compared to the traffic recorded during the first six months of 2019. DXB registered a robust performance throughout the second ...

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• 22 August

  Special Olympics UAE signs pact with fitness federation

  

  ABU DHABI / WAM Special Olympics UAE on Tuesday signed a memorandum of understanding with the Emirates Bodybuilding and Fitness Federation to develop a strategic partnership between the two entities and expanding People of Determination’s participation in powerlifting. The signed MoU allows both parties to exchange knowledge and experiences related to bodybuilding, fitness, and powerlifting, as both parties will work ...

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• 22 August

  Kezad begins AED42 million new project in Al Ma’mourah

  

  ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi (Kezad Group), the integrated trade, logistics, and industrial hub of Abu Dhabi, on Tuesday announced that it has commenced main road landscaping works across 288,000 sqm in Kezad Al Ma’mourah. The AED42 million project includes landscaping 24 km of main roads and roundabouts in Kezad Al Ma’mourah. The project also consists ...

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• 22 August

  COP28 announces  thematic programme to progress action on goals

  

  ABU DHABI / WAM The COP28 UAE Presidency has announced an ambitious and inclusive two-week thematic programme for the conference to deliver on four key goals alongside the negotiations process and as part of the critical Global Stocktake response. Taking place at Expo City Dubai from November 30 December 12, COP28 UAE will focus on fast-tracking a just, orderly and ...

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• 22 August

  RAK Ruler receives Governer of Musandam

  

  RAS AL KHAIMAH / WAM HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has received at his palace at the Saqr bin Mohammed City, Ibrahim Said Al Busaidi, Governer of the Musandam Governate in Oman, and his accompanying delegation. During the meeting, Sheikh Saud and Al Busaidi discussed the deep-rooted ties between ...

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• 22 August

  Top China hedge fund blames investors for stock rout

  

  BLOOMBERG A top-performing Chinese macro hedge fund blamed global capital for sinking the country’s stocks to the lowest levels since November. Foreign funds are primary drivers of Chinese stocks’ recent selloff, said Li Bei, founder of Shanghai Banxia Investment Management Center. Overseas investors stirred up market volatility and, “taken together, they are a bunch of aimless flies,” she said in ...

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• 22 August

  Nasdaq futures signal further gains in US technology shares

  

  BLOOMBERG Nasdaq futures signalled further gains in US tech shares after August 21’s rally, while the sector also outperformed in Europe and Asia. Contracts on US stock gauges climbed, with those on the Nasdaq 100 Index rising 0.4%. Nvidia Corp gained 1.4% in premarket trading, after an 8% jump onAugust 21 that buoyed tech stocks amid optimism about its earnings ...

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