Lockheed unveils new F-21 fighter jet configured for India

Lockheed previously offered India their F-16 jet fighter, above, but proposed to manufacture custom-made planes for India. (AFP)
Updated 20 February 2019
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Lockheed unveils new F-21 fighter jet configured for India

  • The firm said the new plane is tailored to India’s needs
  • A number of airplane manufacturers are competing to win India’s upcoming military purchase

NEW DELHI: Lockheed Martin offered India a new combat jet, F-21, on Wednesday to be made locally, in a bid to win a large military order worth over $15 billion.
The US defense firm had earlier offered its F-16 fighter used by countries around the world for the Indian air force’s ongoing competition for 114 planes to be made in India.
But Lockheed, unveiling the plan at an airshow in the southern city of Bengaluru, said it was offering India a new plane configured for its needs.
“The F-21 is different, inside and out,” Vivek Lall, vice president of Strategy and Business Development for Lockheed Martin Aeronautics, said in a statement.
The company will build the plane in collaboration with Tata Advanced Systems, the firm said.
Lockheed is competing with Boeing’s F/A-18, Saab’s Gripen, Dassault Aviation’s Rafale, the Eurofighter Typhoon and a Russian aircraft for the air force order.


Dubai schools allowed to raise fees after last year’s freeze hit GEMS listing

Updated 26 March 2019
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Dubai schools allowed to raise fees after last year’s freeze hit GEMS listing

  • UAE authorities fixed the fees in hopes of stimulating the economy
  • The maximum increase for next year will be 2.07 percent for 90 percent of the schools

DUBAI: Dubai will allow a modest increase in school fees for the majority of students in the 2019-2020 academic year, the government said, after last year’s freeze triggered a delay in the London listing of a major school operator.
The move is likely to provide some reprieve for private investors such as private equity firms, who own most of the schools in the country, a Gulf Arab state that acts as a Middle East hub for international companies.
Last year’s move to freeze Dubai school had hit the initial public offering of Blackstone-backed, Middle East-focused education company GEMS, Reuters had reported, citing sources. The London listing was delayed after authorities in Dubai unexpectedly decided to freeze tuition fees, meaning the company’s financial forecasts had to be adjusted, they said.
Dubai’s move last year to freeze school fees came amid a number of other measures to cut costs in a bid to stimulate the economy that has been hurt by a downturn in property prices.
The Dubai government said it will allow an increase in school fees for 90 percent of students by a maximum 2.07 percent from the 2019-2020 academic year.
Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, the crown prince and son of Dubai’s ruler, approved the new framework where the Dubai School Inspection Bureau will assess the quality of education in each school against its index and rank them accordingly.
Schools in which the quality of education is declining according to the government’s index will not be allowed to increase their fees.
Only 10 percent of the students in Dubai will have their fees increased by more than 2.07 percent, it said.