June, 2023

• 1 June

  China’s C919 passenger jet makes first commercial flight

  

  BLOOMBERG A made-in-China aircraft to rival Boeing Co and Airbus SE underwent its maiden commercial flight on May 28, almost six months after being delivered to China Eastern Airlines Corp. Flight MU9191 took off from Shanghai at 10:32 am local time, China Eastern said on its Weibo account. The plane carried 128 passengers and landed safely at Beijing, People’s Daily ...

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• 1 June

  Rolls-Royce may cut thousands of jobs in turnaround plan

  

  BLOOMBERG Rolls-Royce Holdings Plc could cut thousands of jobs after the company hired consultants led by McKinsey & Co to advise on streamlining its operations, The Times reported. Part of the turnaround plan will see the combination of non-manufacturing departments in each of the company’s civil aerospace, defense and power systems divisions, the newspaper said, citing an unidentified consultancy source. ...

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• 1 June

  European stocks climb on debt deal and softer inflation data

  

  BLOOMBERG European stocks climbed after three days of declines, while US futures edged higher after the House passed a deal to avert a US default and Federal Reserve officials hinted at a pause in interest-rate hikes. Banks and carmakers led gains in the Stoxx Europe 600 index as data showed euro-area inflation slowed more than analysts’ estimates in May. Adnoc ...

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• 1 June

  Ghana nears deal with pension funds on $2.6bn debt revamp

  

  BLOOMBERG Ghana’s pension funds are close to agreeing to a deal to restructure $2.6 billion worth of government bonds they hold, according to an umbrella body for the industry. Under the plan, the pension funds will receive more interest payments, but over a longer period of time, according to Thomas Esso, executive secretary of the Chamber of Corporate Trustees. The ...

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• 1 June

  UAE President receives phone call from President of Democratic Republic of Congo

  

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received a phone call from Félix Tshisekedi, President of the Democratic Republic of the Congo. During the call, the two leaders discussed opportunities to enhance cooperation aimed at supporting the sustainable development and economic prosperity of both nations. The conversation between His Highness and President Tshisekedi also ...

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May, 2023

• 31 May

  UAE’s Etihad Airways named Environmental Airline of 2023

  

  ABU DHABI / WAM Etihad Airways has been named Environmental Airline of the Year 2023 for the second year running in the Airline Ratings awards. The Airline Ratings awards acknowledge the best of the aviation industry and rank airlines on their innovation, route networks and safety score against strict assessment criteria. The awards recognised Etihad’s commitment to sustainable aviation through ...

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• 31 May

  Adnoc signs pacts with 60 firms at Make it in the Emirates forum

  

  ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc) announced on Wednesday at the Make it in the Emirates forum in Abu Dhabi, new agreements with more than 60 UAE-based and international companies to locally manufacture critical non-oil products in its supply chain. The new agreements bring Adnoc closer to its target to locally manufacture AED70 billion ($19 billion) ...

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• 31 May

  Khaled bin Mohamed bin Zayed visits second edition of Make it in the Emirates forum

  

  ABU DHABI / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, on Wednesday attended the second edition of the ‘Make it in the Emirates’ forum. Taking place at the Abu Dhabi Energy Centre, the forum is organised in partnership with the Ministry of Industry and ...

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• 31 May

  Mohammed bin Rashid approves new futuristic masterplan for Palm Jebel Ali

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the new futuristic development masterplan of Palm Jebel Ali. Part of the Dubai 2040 Urban Master Plan, Palm Jebel Ali is one of a series of visionary projects being undertaken by world-leading Dubai-based real estate master developer ...

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• 31 May

  Rate hikes putting market stability at risk, warns ECB

  

  BLOOMBERG  The European Central Bank (ECB) said that financial markets will be vulnerable to negative shocks as it continues the fight against inflation, with real estate among the sectors at risk. Higher interest rates are testing the resilience of households, companies, governments and property markets, the institution said on Wednesday in its biannual Financial Stability Review. That’s leaves investors potentially ...

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