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.
Indian rupee, stocks soar in relief rally after trade deal with US
India's financial markets rallied sharply on Tuesday after a trade deal that slashed US tariffs on Indian goods to 18 per cent from 50 per cent, a development that investors said lifts a key overhang over the country's stocks, bonds and currency.
UAE, DR Congo sign CEPA to strengthen economic partnership
The UAE and the Democratic Republic of Congo have formalised economic ties through signing a Comprehensive Economic Partnership Agreement (CEPA) on Monday that aims to reduce tariffs and eliminate trade barriers.
'World's Coolest Winter' boosts UAE tourism, hotel revenues hit AED 12.5 billion
The UAE's Ministry of Economy and Tourism has announced the conclusion of the sixth edition of the World’s Coolest Winter campaign, which recorded strong results across all seven emirates.
UAE and Sierra Leone sign major trade pact
The UAE and Sierra Leone have signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at strengthening trade and investment cooperation.
IMF chief praises UAE's model of economic diversification
Kristalina Georgieva, Managing Director of International Monetary Fund (IMF), has commended the UAE's non-oil trade growth as a testimony of its successful efforts at diversifying its economy, during her opening address at Arab Fiscal Forum.
