Latest news with #777
Business Insider
22-05-2025
- Business
- Business Insider
TAT Technologies expands MRO partnership with cargo carrier
TAT Technologies (TATT) 'announced the signing of a five-year maintenance, repair, and overhaul – MRO – agreement with one of the world's leading cargo carriers. This agreement is a 5-year extension of an existing contract for APU repairs on the U.S. fleet of 767 and 757 aircraft, now expanded to support the carrier's global fleet. Additionally, under this extension, TAT will provide repair services for two new APU platforms: B737 and A300. The company was also awarded the 777 APU contract for the next 7 years. The parties are expecting to sign the extension for the 777 APU during May- June 2025. The total value of the contracts is estimated to be between $40 million to $55 million over the next five years.' Confident Investing Starts Here:
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Dubai: Investors lose millions of dirhams as brokerage firm vanishes overnight
A black garbage bag and a mop resting inside a bucket lean against suite 302 at Capital Golden Tower — the only remnants outside Gulf First Commercial Brokers' now-abandoned offices in Business Bay. Until last month, around 40 employees filled suites 302 and 305, relentlessly cold-calling investors with forex offers. Today, both spaces stand empty: phone wires ripped from walls, dust coating the floors, and millions in investor funds gone without explanation. Among the scores left in limbo are Keralite expats Mohammad and Fayaz Poyyl, who invested $75,000 between them. "I came here looking for answers, but there's nothing, no one. Just empty offices. We called every number, no one responds" said Fayaz, standing outside the doors. 'It's like they never existed.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. The scheme's mechanics are now coming to light. Sanjiv, another Indian investor, described how Gulf First Commercial Brokers aggressively pushed clients toward Sigma-One Capital, an unregulated online platform. "They guaranteed safe returns," he said, explaining how repeated assurances convinced him to invest his life savings. Mohammad, who lost $50,000, revealed staff used the names Gulf First and Sigma-One interchangeably, claiming they were the same operation. A police complaint has been filed against both firms. Investigations confirm Sigma-One Capital operates without DFSA or SCA authorisation. The company claims a St. Lucia registration and a Bur Dubai office in Musalla Tower, but no such office exists. In fact, there are no records of the company ever operating there. "I wish I'd checked their credentials," said another investor. "Now we're left with empty offices and emptier bank accounts." Familiar playbook The scam follows a familiar pattern. In March, Khaleej Times uncovered how UAE residents lost millions to dubious platforms like DuttFx and EVM Prime— all promoted through cold calls promising "secure trading environments". Victims typically maxed out credit cards or took loans, only to discover the companies' Dubai offices were fictional. Investors suspect these operations belong to the same syndicate. Fayaz and Mohammad said they were convinced to invest purely based on phone conversations. 'My relationship manager convinced me to make an initial deposit of $1,000. Over time, I was pressured into adding more funds, lured by the illusion of smooth trading and early profits,' Fayaz recalled. An investor who lost over $230,000 (Dh844,777) to Sigma-One Capital said the company paired him a relationship manager who spoke his native Kannada and promised incredible returns. "The platform showed small profits at first, and I even withdrew some money — just enough to build trust," the investor recalled. "Then the pressure started. They blocked withdrawals and pushed me toward riskier trades while demanding more deposits." The situation deteriorated as his relationship manager intensified demands. 'He kept urging me to invest more, while the trading platform began displaying irregularities. It even showed trades in obscure or non-existent assets like ' — a discovery I made much later.' Desperate to recoup losses, he drained his financial resources. "I used credit cards, bank transfers, even my wife's savings," he admitted. "Each deposit was supposed to be the last." His story mirrors many others left financially ruined. AA now fields daily calls from creditors after borrowing from friends and taking a personal loan to invest. Another victim faces bank lawsuits after maxing out two credit cards. Security staff at Capital Golden Tower described a rushed evacuation. "They returned the keys, cleared everything out and left like they were in a hurry," said a guard. "Now we have people coming daily asking about them." Sources reveal the operation followed a calculated script: Call centres would initiate contact, secure first deposits, then hand targets to relationship managers. Khaleej Times tried reaching Sigma-One and Gulf First Commercial Brokers' employees. Most phones went unanswered; the sole respondent, a regional manager, hung up upon hearing "newspaper".
Time of India
16-05-2025
- Business
- Time of India
Emirates in talks with Musk's SpaceX to get Starlink on flights
HighlightsEmirates Airlines is in discussions with Space Exploration Technologies Corp., known as SpaceX, to enhance its in-flight Wi-Fi service by potentially integrating the Starlink internet service into its widebody fleet of approximately 250 jets. While Emirates considers the details of the deal, including whether the Starlink service would be complimentary or limited to loyalty and premium passengers, the airline faces challenges as Starlink is not currently authorized for use in the United Arab Emirates. The successful integration of Starlink into Emirates' fleet would not only enhance the airline's in-flight services but would also provide a significant endorsement for Starlink as it expands its presence in the aviation industry. Emirates is in discussions with Elon Musk 's SpaceX to overhaul the carrier's internet service as the world's largest international airline looks to enhance its in-flight Wi-Fi . The Dubai-based company is considering a deal to fit its widebody jets with SpaceX's Starlink internet service, according to people familiar with the matter. It's unclear whether Emirates, which has a widebody fleet of about 250 jets and more than 300 on order from Boeing Co. and Airbus SE, would make the service complimentary or only free to loyalty and premium passengers, said the people, asking not to be identified as the negotiations are confidential. While more airlines around the world are rolling out the Starlink service on board, winning Emirates would be an important endorsement for the product because the airline has one of the biggest fleets and is globally recognised for its premium service. At the same time, Starlink doesn't work in China and Russia, two major markets that Emirates serves, meaning the airline would need to consider a workaround or cut the product off over those airspaces. Starlink is also not certified for Emirates' signature product, the Airbus A380 double decker. The service does work on Boeing's 777, a jet that makes up more than half of the airline's fleet. The Airbus A350, which Emirates has begun adding to its fleet, should receive Starlink approval in the next few weeks, according to its website. Emirates said it's committed to the best in-flight service, while declining to comment on the deal. SpaceX didn't respond to a request for comment. The carrier is in negotiations over the monthly payments to Starlink, which include a charge for every seat—whether it is occupied or not, one person said. But some fees could come down if the carrier makes concessions including signing on for longer or buying a higher number of units, the person added. Most passengers on Emirates—which operates some of the longest routes globally—now have to pay for internet packages on board. The deal is not final and the airline could decide to partner with another provider like Viasat Inc., the people cautioned. For now, Starlink isn't authorised for use in the United Arab Emirates, and a deal would likely require a reversal of that policy. Earlier this week, Musk said Saudi Arabia will authorise the use of Starlink for aviation and maritime purposes as part of President Donald Trump's Riyadh visit. In the region, Qatar, Bahrain and Jordan allow the use of Starlink. The President lands in Abu Dhabi on Thursday, where he is expected to secure $1.4 trillion in deals spanning technology, infrastructure, aerospace and defense. The UAE houses the leading space centre in the region and has struck deals with Musk to use SpaceX's launchpad for several projects. Emirates competitor Qatar Airways started rolling out the satellite internet for passengers across its Boeing 777 fleet last year. Riyadh Air, Saudi Arabia's startup carrier that's set to launch by the end of the year, has partnered with Viasat.
Time of India
15-05-2025
- Business
- Time of India
Emirates in talks with Musk's SpaceX to get Starlink on flights
Emirates is in discussions with Elon Musk 's SpaceX to overhaul the carrier's internet service as the world's largest international airline looks to enhance its in-flight Wi-Fi . The Dubai-based company is considering a deal to fit its widebody jets with SpaceX's Starlink internet service, according to people familiar with the matter. It's unclear whether Emirates, which has a widebody fleet of about 250 jets and more than 300 on order from Boeing Co. and Airbus SE, would make the service complimentary or only free to loyalty and premium passengers, said the people, asking not to be identified as the negotiations are confidential. While more airlines around the world are rolling out the Starlink service on board, winning Emirates would be an important endorsement for the product because the airline has one of the biggest fleets and is globally recognised for its premium service. At the same time, Starlink doesn't work in China and Russia, two major markets that Emirates serves, meaning the airline would need to consider a workaround or cut the product off over those airspaces. Starlink is also not certified for Emirates' signature product, the Airbus A380 double decker. The service does work on Boeing's 777, a jet that makes up more than half of the airline's fleet. The Airbus A350, which Emirates has begun adding to its fleet, should receive Starlink approval in the next few weeks, according to its website. Emirates said it's committed to the best in-flight service, while declining to comment on the deal. SpaceX didn't respond to a request for comment. Also Read: Elon Musk flaunts Tesla Optimus Robots to Trump and MBS in high-stakes Saudi visit The carrier is in negotiations over the monthly payments to Starlink, which include a charge for every seat—whether it is occupied or not, one person said. But some fees could come down if the carrier makes concessions including signing on for longer or buying a higher number of units, the person added. Most passengers on Emirates—which operates some of the longest routes globally—now have to pay for internet packages on board. The deal is not final and the airline could decide to partner with another provider like Viasat Inc., the people cautioned. For now, Starlink isn't authorised for use in the United Arab Emirates, and a deal would likely require a reversal of that policy. Earlier this week, Musk said Saudi Arabia will authorise the use of Starlink for aviation and maritime purposes as part of President Donald Trump's Riyadh visit. In the region, Qatar, Bahrain and Jordan allow the use of Starlink. The President lands in Abu Dhabi on Thursday, where he is expected to secure $1.4 trillion in deals spanning technology, infrastructure, aerospace and defense. The UAE houses the leading space centre in the region and has struck deals with Musk to use SpaceX's launchpad for several projects. Emirates competitor Qatar Airways started rolling out the satellite internet for passengers across its Boeing 777 fleet last year. Riyadh Air, Saudi Arabia's startup carrier that's set to launch by the end of the year, has partnered with Viasat. Also Read: OpenAI plans Stargate data centre in UAE in push beyond US: Report
Vancouver Sun
15-05-2025
- Business
- Vancouver Sun
Emirates in talks with Musk's SpaceX to get Starlink on flights
Emirates is in discussions with Elon Musk's SpaceX to overhaul the carrier's internet service as the world's largest international airline looks to enhance its in-flight Wi-Fi. The Dubai-based company is considering a deal to fit its widebody jets with SpaceX's Starlink internet service, according to people familiar with the matter. It's unclear whether Emirates, which has a widebody fleet of about 250 jets and more than 300 on order from Boeing Co. and Airbus SE, would make the service complimentary or only free to loyalty and premium passengers, said the people, asking not to be identified as the negotiations are confidential. While more airlines around the world are rolling out the Starlink service on board, winning Emirates would be an important endorsement for the product because the airline has one of the biggest fleets and is globally recognized for its premium service. At the same time, Starlink doesn't work in China and Russia, two major markets that Emirates serves, meaning the airline would need to consider a workaround or cut the product off over those air spaces. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Starlink is also not certified for Emirates' signature product, the Airbus A380 double decker. The service does work on Boeing's 777, a jet that makes up more than half of the airline's fleet. The Airbus A350, which Emirates has begun adding to its fleet, should receive Starlink approval in the next few weeks, according to its website. Emirates said it's committed to the best in-flight service, while declining to comment on the deal. SpaceX didn't respond to a request for comment. The carrier is in negotiations over the monthly payments to Starlink, which include a charge for every seat — whether it is occupied or not, one person said. But some fees could come down if the carrier makes concessions including signing on for longer or buying a higher number of units, the person added. Most passengers on Emirates — which operates some of the longest routes globally — now have to pay for internet packages on board. The deal is not final and the airline could decide to partner with another provider like Viasat Inc., the people cautioned. For now, Starlink isn't authorized for use in the United Arab Emirates, and a deal would likely require a reversal of that policy. Earlier this week, Musk said Saudi Arabia will authorize the use of Starlink for aviation and maritime purposes as part of President Donald Trump's Riyadh visit. In the region, Qatar, Bahrain and Jordan allow the use of Starlink. Emirates competitor Qatar Airways started rolling out the satellite internet for passengers across its Boeing 777 fleet last year. Riyadh Air, Saudi Arabia's startup carrier that's set to launch by the end of the year, has partnered with Viasat.
