Boeing has warned of layoffs in its Space Launch System moon rocket program, saying it expects to have about 400 fewer positions in line with revisions to NASA's Artemis program and cost expectations.
The Seattle-based aerospace manufacturer said it will issue 60-day notices of involuntary layoffs to the affected employees in the coming weeks.
"We are working with our customer and seeking opportunities to redeploy employees across our company to minimize job losses," a Boeing spokesperson said via email.
The Artemis program, which is estimated to cost $93 billion (AED 341 trillion) through 2025, was established by the US space agency during the first administration of President Donald Trump. It represents the flagship American effort to return astronauts to the moon for the first time since NASA's Apollo 17 mission.
The program, however, has had significant delays and rising costs.
Artemis 2, previously planned for late 2024 and involving a crewed flight around the moon, is now scheduled for September 2025. Artemis 3, planned as the first astronaut moon landing under the program, is now planned for September 2026, delayed from late 2025.
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
The UAE has launched an urgent humanitarian mission to assist communities affected by Hurricane Melissa, which devastated parts of Jamaica, Haiti and Cuba.
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, looked at ways to advance cooperation with South Korea in key sectors during talks with President Lee Jae-myung in Gyeongju.