Airbus set to close deal for majority stake in Bombardier Cseries

Above, an Airbus A320neo aircraft and a Bombardier CSeries aircraft are park in Colomiers near Toulouse in October 2017, during the announcement of Bombardier’s sale to Airbus a 50.01 percent stake in its flagship commercial jet for a symbolic Canadian dollar. (Reuters)
Updated 08 June 2018
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Airbus set to close deal for majority stake in Bombardier Cseries

SYDNEY: Airbus is set to close a deal to take a controlling stake in Bombardier Inc’s CSeries jetliner program, effective July 1, the companies said on Friday, in a move expected to kickstart the European planemaker’s ability to put its marketing and cost-cutting muscle into the Canadian plane program.
Bombardier agreed in October to sell Airbus a 50.01 percent stake in its flagship commercial jet for a symbolic Canadian dollar, as the plane program battled sluggish sales and low production, which made it harder to keep a lid on costs.
Airbus, by contrast, will be able to offer airlines deals by packaging the CSeries with its own jets and is expected to use its purchasing prowess to drastically cut the price of parts, along with improving efficiencies internally.
Bombardier will now own about 31 percent, while Investissement Quebec, the investment arm of the province of Quebec, will hold a 19 percent stake.
The Quebec government, through its financing arm, took a 49 percent stake in the CSeries program in 2015 for $1 billion. Quebec’s share, most recently worth 38 percent, slipped to 19 percent following the deal with Airbus.


Dubai eyes stronger business, investment ties with Egypt

Competitive advantage: Dubai’s reputation as a wealth generator and investment stronghold continues to drive the city’s growth. (Reuters)
Updated 23 July 2018
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Dubai eyes stronger business, investment ties with Egypt

  • Dubai’s global reputation as a wealth generator and investment stronghold continues to drive the city’s growth and was a matter of interest to the visiting Egyptian delegates

Dubai has moved to further strengthen the emirate’s business and investment ties with Egypt, following meetings with a high-level Egyptian delegation.

During the discussions held in Dubai, Dubai FDI and Egyptian delegates from the General Authority for Investment and Free Zones appraised the many foreign investments coming into the city as a result of the government’s intensive efforts to create a business-friendly environment.
Dubai FDI (the investment agency of the Dubai Economic Development Department) also took the opportunity to explain its mandate and role in creating a business-appropriate landscape to attract international companies and help stimulate capital growth.
Khalid Al-Boom, Deputy CEO of Dubai FDI, who welcomed the Egyptian officials, said that Dubai and Egypt’s joint efforts and deepening relations constitute a significant boost to the government’s initiative to make Dubai one of the most sustainable and competitive business hubs in the world. Al-Boom also said that the visit would further reinforce government-to-government ties and promote sharing of knowledge of expertise.
He noted that the current favorable business environment would further push a new phase of economic and investment cooperation between the two countries to help realize their growth and development goals.
“We at Dubai FDI are fully committed to continue on the path toward success and optimize Dubai’s transformation and potential to make the emirate’s one of the most stable economies in the Middle East and the world,” he concluded. The Egyptian delegates were introduced to local business, government, and legislative processes and procedures. Dubai FDI officials also discussed promising business opportunities and key services that benefit foreign companies operating in the emirate.
The Dubai Government has rolled out a comprehensive program to help foreign companies interested in starting their business in the city. The visiting delegation toured the Dubai Multi Commodities Center and the Dubai Silicon Oasis Authority, during which they were informed about the institutions’ best practices, development strategies, main service offerings, and major investment opportunities.
Dubai’s global reputation as a wealth generator and investment stronghold continues to drive the city’s growth and was a matter of interest to the visiting Egyptian delegates. They were informed that though Dubai moved away from traditional trading and looked to its natural resources for sustenance in the latter half of the 20th century, revenue from oil was soon complemented and later almost replaced with a knowledge-based and services driven economy.
The innovative businesses which establish themselves in Dubai are supported by the Emirate’s ambition to drive technology, pioneer new innovation and foster thought leadership.
Trade, logistics, financial services, hospitality and tourism, real estate, construction and manufacturing now make up more than 90 percent of business activity in the Emirate.
This diversification, along with Dubai’s strategic location, infrastructure and ease of business philosophy, make it a popular choice for local and international organizations to begin operations and expand into the Middle East.