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.
DEWA brings electricity and water services to ChatGPT
Dubai residents can now access electricity and water services by asking questions through ChatGPT, after Dubai Electricity and Water Authority (DEWA) expanded its customer support onto the AI platform.
US, India unveil interim trade framework, move closer to broad pact
The US and India have moved closer to a trade pact, releasing an interim framework that would lower tariffs, reshape energy ties and deepen economic cooperation as both countries seek to realign global supply chains.
Aldar, Dubai Holding announce next phase of strategic partnership
Aldar and Dubai Holding have expanded their landmark joint venture, adding two strategic land plots in Dubai that will deliver almost 14,000 new homes with a combined gross development value (GDV) exceeding AED 38 billion.
Dubai regulator fines investment firm AED 1.8 million over compliance issues
The Dubai Financial Services Authority has fined Ark Capital Management Limited (Dubai) $504,000 (over AED 1.85 million) for regulatory breaches.
UAE, US sign framework to secure critical mineral supply chains
The UAE and the US have signed a framework on critical mineral supply chains, with plans to finance projects in each country in the next six months.
