August, 2023

• 14 August

  Mohamed Al Hussaini meets  with Iranian ambassador

  

  DUBAI / WAM Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, met with Reza Ameri, ambassador of the Islamic Republic of Iran to the UAE. During the meeting, held at the Ministry of Finance’s Dubai office, Al Hussaini highlighted the efforts of boosting cooperation between both countries. They also discussed matters of mutual interest. Al Hussaini presented prospects ...

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• 14 August

  Dewa selects Masdar as bidder for 1,800MW MBR solar park

  

  DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority PJSC (Dewa), on Sunday announced that the Abu Dhabi Future Energy Company PJSC – Masdar is the Preferred bidder to build and operate the 1,800MW 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park for using photovoltaic (PV) solar panels based on ...

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• 14 August

  Under patronage of Sheikh Nahyan 29th Abu Dhabi International Chess Festival to take place in emirate

  

  ABU DHABI / ad media Under the patronage of His Highness Sheikh Nahyan bin Zayed Al Nahyan, Chairman of Abu Dhabi Sports Council, the 29th Abu Dhabi International Chess Festival will take place from August 14-25 at the Radisson Blu Hotel in Abu Dhabi, with a total prize fund of AED300,000. The festival will be held under the supervision of ...

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• 13 August

  CVC exploring IPO of $7.7bn perfume retailer Douglas

  

  BLOOMBERG CVC Capital Partners is weighing an initial public offering of Douglas and could seek a value of more than €7 billion ($7.7 billion) for the German perfume retailer, people with knowledge of the matter said. The private equity firm is working with independent adviser Rothschild & Co as it explores a possible 2024 IPO of the business, according to ...

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• 13 August

  Turkish Air net income climbs 18% on strong passenger revenue

  

  BLOOMBERG Turkish Airlines reported an 18% increase in net income in dollar terms during the first half of 2023 from a year ago, with passenger revenues offsetting a decline in the cargo unit. The national carrier’s total revenue rose 25% during the same period to $9.5 billion while profits stood at $868 million, driven by a 50% surge in passenger ...

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• 13 August

  Travel giant TUI flags UK challenges

  

  BLOOMBERG TUI AG said it expects its summer 2023 travel season to be close to pre-pandemic levels even as the pace of growth tapers off amid higher inflation and rising interest rates. The world’s biggest tour operator said underlying earnings before interest and tax rose to €169 million ($185 million) in the quarter ended on June 30, its first profitable ...

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• 13 August

  Ryanair says new Italy decree on airfares ‘illegal’

  

  BLOOMBERG Ryanair Holdings Plc senior executive Eddie Wilson said a new decree passed by the Italian government to reduce the impact of rising airfares this summer is illegal. “It’s ridiculous, illegal and goes against free market laws,” Wilson, who is chief executive officer of Ryanair’s main unit, said in an interview with Ansa newswire. If the new package isn’t scrapped, ...

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• 13 August

  Cathay bullish on prospects as profit soars to 13-year high

  

  BLOOMBERG Cathay Pacific Airways Ltd expects its strong recovery from the Covid crisis to continue through the rest of the year after the carrier announced its biggest half-yearly profit since 2010. “We’re extremely pleased with the performance to date,” Chairman Patrick Healy said at a post-earnings media briefing. “We expect to see a solid performance through the rest of the ...

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• 13 August

  Trump takes aim at DeSantis in duel at Iowa state fair

  

  BLOOMBERG Donald Trump and Ron DeSantis faced off with dueling events at Iowa’s state fair, taking their fight for the presidential nomination to the traditional political jamboree while avoiding a direct confrontation. Courting thousands of potential Republican voters, the two candidates didn’t cross paths but their appearances had the feel of a showdown in the crucial first-in-the-nation caucus state. But ...

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• 13 August

  New Zealand’s ruling Labour Party pledges to exempt fruit and vegetables from GST

  

  BLOOMBERG New Zealand’s ruling Labour Party said it will exempt fruit and vegetables from the Goods and Services Tax (GST) if it wins a third term at elections in October. Unveiling the party’s tax policy on Sunday in Wellington, Prime Minister Chris Hipkins also pledged to increase benefits for low-income families that he said would deliver an average of NZ$47 ...

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