Investec Bank has signed a deal to purchase four A380 superjumbo jets operated by Emirates before leasing them back to the Dubai-based carrier. The London-based bank will pay a total of USD $1 billion for the double-decker aircrafts, two of which are new and owned by Emirates. Investec, which already finances single-aisle and smaller twin-aisle aircrafts, plans to own the A380s for 12 years before selling them on the secondary market.
DXB and DWC boost winter schedules with new routes
Dubai Airports has entered the winter travel season with one of its strongest networks in history, as Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC) welcome new airlines and expanded connectivity to meet rising seasonal travel demand.
Amazon in talks to invest in OpenAI
Amazon.com Inc is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.
DXB to welcome over 4.2 million guests over next two weeks
Dubai International Airport (DXB) is gearing up to accommodate a surge in travellers over the next two weeks, marking one of the busiest travel periods of the year.
UAE, India review strategic partnership during joint sessions in Abu Dhabi
The UAE and India have reviewed the progress of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that aim to advance bilateral trade towards a shared goal of $100 billion.
Mubadala, Barings launch $500 million global real estate debt partnership
Abu Dhabi-based Mubadala Investment Company and global investment manager Barings have announced the launch of a $500 million global real estate debt partnership.
More rainfall has been forecast for Dubai from late Thursday to early Friday, the National Centre of Meteorology (NCM) said, warning residents to exercise caution.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has led messages congratulating Qatar's Emir Sheikh Tamim bin Hamad Al Thani on the country's National Day, which falls on December 18.
Dubai authorities are urging the public to take precautions as unstable weather is forecast from Wednesday, December 17, through to Friday, December 19.
