Wizz Exit From Abu Dhabi Leaves Hundreds of Staff in Limbo
Every employee in Abu Dhabi will have the opportunity to take another job across the budget carrier's European network, Chief Executive Officer Jozsef Varadi said on a video call with staff seen by Bloomberg News. Affected employees also are due a bonus payment in September, he said at the Monday meeting after announcing the shutdown.
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Bloomberg
26 minutes ago
- Bloomberg
Mideast Private Equity Veteran's BlueFive Sells Stake to Bahraini Fund
Hazem Ben-Gacem has sold a stake in his new firm BlueFive Capital to Bahrain's sovereign wealth fund, in an early sign of the Middle East private equity veteran leveraging his ties to investors in the oil-rich region. Mumtalakat Holding Co. has taken a stake in BlueFive, the Abu Dhabi-based firm said in a statement on Monday. 'This latest investment provides BlueFive with long-term institutional backing as it continues to scale internationally,' it said.
Yahoo
an hour ago
- Yahoo
All Nippon Airways finalizes takeover of Nippon Cargo Airlines
All Nippon Airways has finally acquired Nippon Cargo Airlines, the company announced late Sunday, ending a two year saga and creating the world's 14th largest airline group by tonnage transported. ANA postponed completing the deal eight times because of delays in regulatory reviews. Chinese competition authorities approved the deal, with conditions, in early July. The Japan Fair Trade Commission approved the transaction in January. The acquisition will help All Nippon Airways, which operates six Boeing 767 freighter aircraft and two Boeing 777 freighters, in addition to managing cargo carried by the company's passenger aircraft, expand its international air cargo network and related products to better support shippers. In 2023, ANA had nine 767 cargo jets in the fleet. Nippon Cargo Airlines owns and controls 15 Boeing 747 jumbo freighters: eight 747-8s it flies on its own, plus five older 747-400s operated on its behalf by U.S.-based Atlas Air and two 747-400s crewed by ASL Airlines Belgium. Japanese ocean and transport company Nippon Yusen Kabushiki Kaisha, also known as NYK Line, agreed in March 2023 to sell NCA to ANA, saying it faced challenges making the investments necessary to maintain the fleet as operating margins contracted. The companies took much longer than expected to finalize the deal because of difficulty receiving all approvals from nations where the companies operate, according to a high-level source with one of the companies. After initial delays, executives anticipated deal closure to happen in February 2024. Earlier this year, ANA said it expected to complete the transaction on May 1. 'The strategic integration of NCA's freighter network and specialized cargo expertise with the ANA Group's existing infrastructure will greatly improve our capability to serve our customers' needs,' said Koji Shibata, president and CEO of ANA Holdings. 'We are committed to leveraging this expanded capacity and combined knowledge to deliver exceptional value in our cargo transport solutions globally.' The final transfer of NCA shares to ANA occurred on Friday. Financial terms were not disclosed. ANA international cargo revenue for the fiscal year first quarter ended June 30 slipped 2% to $286.2 million despite a 2.5% increase in traffic volume. Demand fell for shipments from China to North America, but ANA offset the decline with more shipments from the rest of Asia to North America. Click here for more FreightWaves/American Shipper stories by Eric Kulisch. RELATED READING: Amazon launches dedicated cargo service to Colombia with 21 Air The post All Nippon Airways finalizes takeover of Nippon Cargo Airlines appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
an hour ago
- Entrepreneur
Digital Dubai Launches World's First AI-Powered Emirati Family
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. In a groundbreaking move to humanize digital services and strengthen cultural identity, Digital Dubai has unveiled the world's first virtual AI-powered Emirati family. This initiative marks a pioneering step in the UAE's digital transformation strategy, blending artificial intelligence with local heritage to enhance public engagement. The debut began with the launch of "The Girl", the first family member introduced via a social media campaign. Clad in modernized traditional attire, the animated figure was designed to appeal to children and families alike. Digital Dubai invited the public to vote on her name—choosing between Dubai, Mira, and Latifa—fostering community participation from the outset. This virtual family will expand over time to include a father, mother, and brother, each character crafted to reflect authentic Emirati values. Beyond their visual appeal, these avatars are embedded with conversational AI, enabling them to communicate key government messages, explain services, and promote digital literacy in a friendly, relatable way. According to Digital Dubai, the goal is to "humanize digital communication" and make government services more accessible to residents of all ages and nationalities. The initiative aligns with Dubai's broader vision of using advanced technology to improve quality of life and strengthen civic engagement. What sets this initiative apart is its cultural sensitivity and strategic storytelling. By anchoring AI in the context of family—a deeply valued institution in Emirati society—Digital Dubai ensures that digital transformation resonates emotionally with its people. The family will serve not just as a communication tool, but as a symbol of modern Emirati identity in the digital age. As public engagement with "The Girl" continues to grow, anticipation builds for the remaining characters. This initiative sets a global benchmark for inclusive, culturally rooted digital governance—and confirms Dubai's role as a world leader in AI-driven innovation.
