Emirates airline announced Sunday that it has repaid a $500 million bond in full on its maturity date on March 24. The bond, listed on the Luxembourg Stock Exchange, was originally issued in 2004 with a seven year term. The issuing of bonds is a normal part of Emirates operating procedures.
Shanghai welcomed its first scheduled Airbus A380 service on Wednesday afternoon, when Emirates flight EK302 from Dubai arrived at Shanghai Pudong International Airport. Shanghai has became the third destination in China for Emirates' A380, following on from the launch of services to Beijing and Hong Kong in 2010.
A Syrian visitor, who allegedly possessed fake US dollar bills for circulation, was on trial on Sunday in the Court of First Instance. According to court records, 48 fake 100 dollar bills were seized from the 39-year-old Syrian visitor on January 9 and he was about to circulate. He faced the charge of possession of fake currency for circulation.
The new terminal at Kuwait International Airport, opened in 2008, was made A380 operational in November last year, and Emirates will be the first carrier to fly the superjumbo into the country. It’s not the first time that an airline has flown special A380 flights to show off its superjumbo.
The real estate sector is expected to emerge as one of the principal beneficiaries of the development of Al Maktoum International Airport, according to international real estate consultants Cluttons.
Dubai Airports announced that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and the Ruler of Dubai, has endorsed its $7.8bn (Dhs28.8bn) airport and airspace expansion programme which will boost capacity at Dubai International from 60 million to 90 million passengers per year by 2018.
Dubai will face its first big test of international investor confidence today since one of its largest companies unveiled debt restructuring proposals last month.
THE Gulf emirate of Dubai, home to the biggest port in the Middle East, on Monday opened a Dubai Logistics Corridor aimed at easing the flow of shipments between sea and air ports in the trade hub. The new facility links Jebel Ali Port and Jebel Ali Free Zone, which is home to 6,500 companies, with Dubai World Central-Al Maktoum International Airport, it said in a statement.
Dubai World Central, a logistics hub around a new airport, will be twice the size of Hong Kong island when completed. It is served by some of the world's most modern roads
There was a need for a single air traffic management system to oversee both civil and defence aviation, said the company’s chief executive Paul Griffiths.
The debt includes funds borrowed by the Dubai government to finance the expansion of Dubai International Airport, the first phase of the construction of Al Maktoum International Airport, other infrastructure projects in Dubai, borrowings by Investment Corp. of Dubai, and related party debt from the Abu Dhabi government and the Central Bank of the U.A.E. for the Dubai Financial Support Fund and the restructuring of the Dubai World Group, according to the prospectus.
DP World is drawing closer to reviving its global investment plans after increasing its cash pile to almost US$3 billion (Dh11.01bn). After pushing down costs judiciously during the downturn, including trimming its global workforce by 5 per cent, the world’s fourth-largest ports operator is in a prime position to invest in new terminals where it sees the greatest untapped demand.