Bloomberg Southwest Airlines Co. and the union for its mechanics reached an agreement in principle for a new contract, amid an exchange of lawsuits and more than six years after beginning negotiations. The proposed five-year accord would give mechanics $160 million in retroactive pay, an immediate 20 percent raise effective April 1, and 3 percent annual increases each August, according ...
Read More »Lippo slumps after Matahari slashes payout
Bloomberg PT Matahari Department Store was downgraded by at least four analysts and led declines among Lippo Group stocks after a slump in the retailer’s net income prompted a cut in its dividend payout. Matahari plunged as much as 22 percent in Jakarta trading, the most since December 2011, while PT Lippo Cikarang, PT Lippo Karawaci and PT Siloam International ...
Read More »Digitisation studies to preserve UAE heritage
DUBAi / WAM Innovation is never a tool to surpass heritage, experts argued during a joint forum held by the Hamdan bin Mohammed Heritage Centre and the Zayed University. In the digital age and at the heart of the 4th Industrial Revolution, heritage is celebrated in the UAE and not forgotten. The Innovation and Heritage Forum aimed to promote research ...
Read More »Adnoc awards onshore block exploration to Japan’s Inpex
ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Sunday signed an agreement awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s Inpex Corporation. A wholly-owned Inpex subsidiary, Jodco Exploration Limited, will hold and manage the interest in the concession on behalf of Inpex. The award has been endorsed by Abu Dhabi’s Supreme Petroleum ...
Read More »Initiative to conserve energy, water launched in Abu Dhabi
ABU DHABI / WAM The Abu Dhabi Department of Energy (DoE) launched the ‘Saving Energy and Water at Home’ initiative. This latest endeavour is one of three sustainable initiatives launched by the department in collaboration with Zay-ed Higher Organisation for Humanitarian Care and Special Needs (ZHO), Abu Dhabi Distribution Company, and Al Ain Distribution Company. The DoE is official partner ...
Read More »Opec needs to stay the course on output cuts: Saudi minister
Bloomberg The Organization of Petroleum Exporting Countries (Opec) and its allies have much work to do to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said. The 24-nation coalition known as Opec+ needs to “stay the course†until June as its job is nowhere near complete in terms ...
Read More »DP World selects Infor GT Nexus to boost supply chain
DUBAI / Emirates Business Global trade enabler DP World has selected the Infor GT Nexus Commerce Network as the technology backbone to power its global supply chain platform initiative. DP World’s objectives for strategic growth require innovative logistics digitalisation capabilities to power a new business initiative that will extend the value of its port and trade facilitation services to customers ...
Read More »Sharjah terminal welcomes India’s MV Port Klang
SHARJAH / WAM Gulftainer, a privately owned independent port operator, welcomed the MV Port Klang from Sunmarine Shipping Services on a maiden call at its gateway flagship Sharjah Container Terminal (SCT). The vessel is one of the shipping group’s fastest services between the Indian subcontinent and the UAE. The MV Port Klang offers the fastest direct express service between Sharjah’s ...
Read More »Empower saves electricity worth AED3bn in 2018
Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has achieved total electricity savings of 1160 MW, worth AED 3 billion, in 2018 “As per its vision, Empower adopts an integrated strategy that contributes in raising customers awareness about conservation of energy. We thrive to reduce energy consumption and protect the environment ...
Read More »Al Habtoor Motors announces winners of 2019 DSF campaign
Dubai / Emirates Business The recently concluded DSF promotion of Al Habtoor Motors was a grand success. During the final draw held in Dubai and Sharjah 5 winners names were declared with each winning a brand new Lancer EX sedan. This year Mitsubishi customers had great reasons to celebrate their buy with exciting great value deals on the entire range ...
Read More »