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Libyans swap jewelry for medical treatment

Posted by on 16/11/2017
Filed under Africa, Business, Top Stories, World

Libyans swap jewelry for medical treatment

Libyans swap jewelry for medical treatment

Inflation, cash crisis hit ordinary Libyans TRIPOLI: In a square behind Libya’s central bank, black market dealers, some of them armed, carry small plastic bags filled with dollars and larger ones with dinars in and out of one of many informal exchanges. Traders buy food and other goods from abroad at the official rate and […]

Airbus lands biggest-ever deal at Dubai show

Posted by on 15/11/2017
Filed under Business

Airbus lands biggest-ever deal at Dubai show

Airbus lands biggest-ever deal at Dubai show

Aerospace firm to sell 430 planes to Indigo Partners for $49.5bn DUBAI: Airbus signed a $49.5 billion deal yesterday to sell 430 airplanes to the Phoenix-based private equity firm that owns Frontier Airlines, striking the European aerospace company’s biggest deal ever at the Dubai Air Show. Meanwhile, Boeing reached an agreement with low-cost carrier FlyDubai […]

Flydubai commits to $27 bn order for 225 Boeing 737 MAX aircraft

Posted by on 15/11/2017
Filed under Business

Flydubai commits to $27 bn order for 225 Boeing 737 MAX aircraft

Flydubai commits to $27 bn order for 225 Boeing 737 MAX aircraft

DUBAI: Dubai-based flydubai yesterday announced a commitment to a $27 billion order for 225 Boeing 737 MAX aircraft to support the growth of its fleet. This is the third aircraft order placed by the airline with Boeing in its eight-year history and follows orders placed in 2008 and 2013. This new aircraft order will support […]

Wataniya Airways adds 25 A320 aircraft to its fleet

Posted by on 14/11/2017
Filed under Business

Wataniya Airways adds 25 A320 aircraft to its fleet

Wataniya Airways adds 25 A320 aircraft to its fleet

Golden Falcon Aviation signs MoU with Airbus acquire 25 new Airbus A320neo Family aircraft. DUBAI: Golden Falcon Aviation, the exclusive aircraft provider of Wataniya Airways, has signed a Memorandum of Understanding (MoU) to acquire 25 new Airbus A320neo Family aircraft. The agreement was signed at the 2017 Dubai Airshow by Dr Hamad Al-Tuwaijri, Chairman of […]

Boeing inks $1.3bn Ethiopian Airlines deal for 777 freighters

Posted by on 14/11/2017
Filed under Business, Top Stories

Boeing inks $1.3bn Ethiopian Airlines deal for 777 freighters

Boeing inks $1.3bn Ethiopian Airlines deal for 777 freighters

Bombardier wins $2.2bn CSeries orders from EgyptAir DUBAI: Boeing Co inked a $1.3 billion deal yesterday to sell four 777 freighters to Ethiopian Airlines as an aircraft provider to a Kuwaiti carrier resuming operations tentatively agreed to buy 25 Airbus A320neos. Chicago-based Boeing and Ethiopian, Africa’s largest cargo operator, made the announcement at the biennial […]

ALAFCO seals $2.2bn deal for 20 Boeing aircraft

Posted by on 13/11/2017
Filed under Business

ALAFCO seals $2.2bn deal for 20 Boeing aircraft

ALAFCO seals $2.2bn deal for 20 Boeing aircraft

DUBAI: Kuwait’s Aviation Lease and Finance Company (ALAFCO) has completed the purchase of 20 Boeing 737 Max aircraft worth $2.2 billion. On the sidelines of the ongoing Dubai Airshow 2017 expo, ALAFCO’s deputy CEO Adel Al-Banwan and the executive vice president of Boeing Kevin McAllister put their names on the dotted line to finalize the […]

Emirates dashes Airbus’s hopes for A380 order

Posted by on 13/11/2017
Filed under Business

Emirates dashes Airbus’s hopes for A380 order

Emirates dashes Airbus’s hopes for A380 order

Dubai demand key for world’s biggest jetliner DUBAI: Dubai wants a guarantee that Airbus will keep production of the A380 superjumbo open for at least 10 years before state-owned Emirates places a new order for the world’s largest jetliner, the airline’s president said yesterday. Speaking to Reuters at the Dubai Airshow, Tim Clark also said […]

Kuwait Insurance hires actuarial expertise to strengthen its technical performance

Posted by on 13/11/2017
Filed under Business

Kuwait Insurance hires actuarial expertise to strengthen its technical performance

Kuwait Insurance hires actuarial expertise to strengthen its technical performance

KUWAIT: Kuwait Insurance Company, announced its financial results for the first nine months ending 30.09.2017. The results reported a net profit of KD7.2million for the first nine months of 2017 compared to a loss of (KD737,000) for the same period last year which shows an increase of 1,081 percent , with Earning Per Share(EPS) at […]

Omantel announces trust in Bader Al-Kharafi on top of Zain pyramid for years to come

Posted by on 13/11/2017
Filed under Business, Kuwait, Other News

Omantel announces trust in Bader Al-Kharafi on top of Zain pyramid for years to come

Omantel announces trust in Bader Al-Kharafi on top of Zain pyramid for years to come

Strategic acquisition creates synergies between Zain and Omantel KUWAIT: Oman Telecommunications (Omantel) will pay $1.35 billion to buy a further 12.1 percent stake in Kuwaiti telecoms company Zain in a deal that will expand its reach to nine Middle Eastern and North African countries. Omantel CEO Talal Al-Mamari announced Zain Vice Chairman and Group CEO […]

Trans-Pacific trade deal advances without US

Posted by on 11/11/2017
Filed under Business, Top Stories, World

Trans-Pacific trade deal advances without US

Trans-Pacific trade deal advances without US

DANANG, Vietnam: Countries in the Trans Pacific Partnership (TPP) trade deal have agreed on the core elements to move ahead without the United States, officials said yesterday, after last-minute resistance from Canada raised new doubts about its survival.   Taking the agreement forward is a boost for the principle of multilateral trade pacts after US […]

US slams World Bank lending to rich countries like China

Posted by on 09/11/2017
Filed under America, Asia, Business, Top Stories, World

US slams World Bank lending to rich countries like China

US slams World Bank lending to rich countries like China

Beijing biggest borrower with $2.4bn in loans this year – “Lending policy hurts poor countries that need help”   WASHINGTON: World Bank lending to countries like China that are rich enough to finance their own development hurts poor countries that need help, a senior US Treasury official said Wednesday. David Malpass, Treasury’s undersecretary for International […]

British shell companies linked to 52 money laundering scandals

Posted by on 09/11/2017
Filed under Business

British shell companies linked to 52 money laundering scandals

British shell companies linked to 52 money laundering scandals

LONDON: British shell companies have been linked to 52 money laundering scandals involving 80 billion pounds ($105 billion) in the past 14 years, according to researchers at campaign group Transparency International. Tax evasion and financial crime has shot to the top of the international agenda in recent days following reports based on leaked documents from […]