Monday, 23 Sep 2024

Emirates REIT May Scrap Listing on Nasdaq Dubai

Airbus Wins $628 Million Contract for U.K. Military Satellite

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Airbus SE signed a contract with the U.K. Ministry of Defence to build an additional satellite to support British military communications until at least 2040.

The contract is worth more than 500 million pounds ($628 million), and covers the development and manufacture of a Skynet 6A satellite for an expected launch in 2025, the company said in a statement on Sunday.

“A new, more advanced satellite capability will provide continued communications support to the U.K. deployed forces for many years,” Defence Secretary Ben Wallace said in the statement.

The initiative follows the Skynet 5 program, which has supported U.K. military communications since 2003.

Commerce Secretary Wilbur Ross hospitalized, 'minor' issues

Wilbur Ross: Working with states to simplify regulations

Commerce Secretary Wilbur Ross on cutting more regulations and the reported Mnuchin, Kudlow clash over what’s in the next stimulus package.

WASHINGTON (AP) — Commerce Secretary Wilbur Ross was hospitalized for "minor, non-coronavirus related issues," a department spokesperson said Saturday.

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Ross, 82, is "doing well" and is expected to be released from the hospital soon, the spokesperson said in a statement.

The department did not immediately respond to a request for additional details.

NEW YORK BAR ADDS 'CUOMO CHIPS' TO MEET GOV'S NEW CORONAVIRUS BOOZE RULES

Ross, a former banker known for acquiring and restructuring failed companies, was confirmed as commerce secretary in February 2017.

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South Africa’s Pravin Gordhan Says SAA Money Yet to Be Found

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South Africa’s Minister of Public Enterprises, Pravin Gordhan, said the government has yet to determine how the rescue of South African Airways will be funded.

His ministry and the National Treasury said on July 16 they would mobilize the additional 10 billion rand ($599 million) the bankrupt airline’s administrators said is needed to effect the rescue. In a July 17 Twitter posting Finance Minister Tito Mboweni denied planning to bail out SAA.

“What government has committed to is to mobilize funding, Gordhan said in an interview on The Fix, a program on Johannesburg-based television station eNCA. “Now where it comes from, the form is comes is something that is still being worked on.”

Kuwait’s 91-Year-Old Emir Undergoes ‘Successful Surgery’

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Kuwaiti Emir Sheikh Sabah Al-Ahmed Al-Sabah underwent a “successful surgery” Sunday morning, state-run Kuwait News Agency reported.

The 91-year-old ruler had been admitted to hospital on Saturday for medical tests.

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Not all Americans think reopening US schools is safe

A fierce debate rages in the US over when to head back to school and whether it is safe to do so.

As the first day of the new school year approaches in the US, a nationwide debate is raging as President Trump pushes for students to go back to the classroom.

School districts are adopting different approaches, some opting to start the school year remotely while others are planning for a partial return with physical distancing rules in place.

Al Jazeera’s Rob Reynolds reports from Los Angeles in the US state of California.

Israel Approves Natural Gas Pipeline Link to Europe

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Israel’s cabinet approved a multinational accord to lay a pipeline that will facilitate the export to Europe of natural gas found in Israeli and Cypriot waters.

The $6 billion plan, formulated by the energy ministers of Israel, Cyprus, Greece and Italy, is for a 1,900-kilometer (1,181 miles) corridor that will link known and yet-to-be-discovered gas fields in the eastern Mediterranean basin with European markets through Cyprus, Greece and Italy. A survey of the route is currently being performed, with the aim of reaching a final investment decision within two years and completing the project by 2025.

Read more: Leaders From Israel, Cyprus, Greece Sign EastMed Gas Pipe Deal

The project has created friction with Turkey, which says it deprives Turkish Cypriots living in a breakaway state in northern Cyprus of proceeds from the island’s natural resources.

Emirates REIT May Scrap Listing on Nasdaq Dubai

Follow us @middleeast for more news on the region.

Emirates REIT will start a comprehensive review of its strategic options, including a potential de-listing from Nasdaq Dubai.

“The advantages of remaining publicly listed are heavily outweighed by the disadvantages,” the company wrote in a statement on Sunday. It cited the “climate” in the United Arab Emirates’ stock markets and the “cyclical downturn” in the real estate sector.”

Earlier on Sunday, Emirates REIT said the Dubai Financial Services Authority is investigating matters connected to its management.

Read more: Emirates REIT Asks for Identity of Traders on Suspicious Trade

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