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Bangkok / Tribune News Service The Commerce Ministry says it has found 15 companies in Phuket and two in Phang Nga in likely breach of the Foreign Business Act (FBA) for having a nominee structure in businesses reserved for Thais. In two cases, foreigners were allegedly using Thai identity cards illicitly. Sarote Suwattigul, deputy director-general of the Foreign Trade ...
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June, 2016
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19 June
Nissan bets on ethanol for fuel-cell vehicles
Tokyo / AFP Nissan says it is developing fuel-cell technology that can power cars using plant-based ethanol, a first for the auto industry, and hopes to launch the system in time for Tokyo’s 2020 Olympics. Japan’s number-two automaker said its experimental technology would let vehicles drive more than 600 kilometres (375 miles) on a single fill, similar to gasoline-powered ...
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19 June
Fake goods often better than originals, says Alibaba’s Jack Ma
Beijing / AFP China’s unbranded goods are often better than the branded originals they imitate, founder of e-commerce giant Alibaba Jack Ma said, posing an additional challenge to the battle against sales of counterfeits. “The problem is that the fake products today, they make better quality, better price than the real product, than the real names,” he said in a ...
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19 June
Iran, Boeing clinch $17bn deal for 100 airliners
Tehran /Â AFP Iran and US aerospace giant Boeing have reached an agreement for the purchase of 100 aircraft to renew the country’s ageing fleet, the head of Tehran’s civil aviation authority announced on Sunday. “We have 250 planes in the country, 230 need to be replaced,” said Ali Abedzadeh, the head of the civil aviation body, adding that the ...
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19 June
Air India cancels leave for cabin crew during Haj season
New Delhi / Tribune News Service Air India has prohibited its cabin crew from taking leave during Haj season when the national carrier flies passengers for their pilgrimage to holy cities in Saudi Arabia. A circular sent to employees on June 9 said that cabin crew should not apply for leave between August 4 and October 16. “Strict compliance ...
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19 June
Avianca drops most since October
Berlin / Bloomberg Avianca Holdings SA dropped the most in seven months, paring a rally that was sparked by speculation other airlines may seek to acquire a stake in the company, after Chairman German Efromovich said he’s currently seeking a partner rather than a buyer for the company. The stock dropped 7 percent to 2,475 pesos at 1:15 p.m. ...
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19 June
Ariane 5 launches two satellites into space
Kourou / AFP Europe’s Ariane 5 rocket launcher successfully sent two telecoms satellites, one for a US-based communications service provider and one for an Indonesian bank, into space. They were launched from Kourou, in French Guiana, at 6:38 pm (2138 GMT), according to launch company Arianespace. It was the third launch of the year, placing into orbit the Echo ...
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19 June
Industry ‘godfather’ to cede CEO’s role at Air Lease
Los Angeles / Bloomberg The self-proclaimed godfather of the aircraft-leasing industry, Steven Udvar-Hazy, is stepping down as chief executive officer of Air Lease Corp. Udvar-Hazy, 70, will become executive chairman of the board on July 1, Air Lease said in a statement. John Plueger, 61, the chief operating officer of the commercial-aircraft leasing company, will take over as CEO. ...
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19 June
World’s biggest jetliner available for rent at 40% discount
New Delhi / Bloomberg Used Airbus Group SE A380 superjumbos are being offered at a 40 percent discount to the $2 million-plus monthly rental rate for a new plane as leasing firm Doric seeks to spur demand for the second-hand jets. Doric is in talks with a number of potential operators for a tranche of double-deckers that could be ...
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18 June
DEWA supports Ramadan Forum
DUBAI / wam The Dubai Electricity and Water Authority (DEWA) is supporting the Rashid bin Mohammed Ramadan Forum as its strategic partner, under the patronage of HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Foundation (MBRF). The forum was organised by the Department of Islamic Affairs and Charitable Activities (IACAD), ...
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