Dubai Aerospace Enterprise announces purchase and leaseback agreement with United for 10 new Boeing 737-9 aircraft
DUBAI (ALETIHAD)Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, Monday announced that it has signed a purchase agreement with United Airlines for 10 new Boeing 737-9 aircraft, and entered into long-term leases for the aircraft delivering between August 2025 and February 2026.Firoz Tarapore, Chief Executive Officer of DAE, commented, 'We are delighted to continue building on our valued relationship with United. Today's announcement of the purchase-lease back agreement of 10 Boeing 737-9 aircraft follows our recent acquisition of an Airbus A321neo on lease to United, and reflects our continued commitment to the North American market."We congratulate United on their continued success and look forward to further strengthening our partnership in the years ahead.'The 737‑9 is a member of the Boeing 737 MAX family, designed to deliver enhanced efficiency, improved environmental performance, and increased passenger comfort to the single-aisle market. Powered by CFM International LEAP-1B engines and incorporating advanced technology winglets, the 737 MAX offers excellent economics.The airplane family reduces fuel use and emissions by 20% compared to jets it replaces.
DAE currently owns, manages, and is committed to own or manage a total of 750 aircraft, including 225 from Boeing, with plans to further expand its fleet to meet growing market demand.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
10 hours ago
- Zawya
South Africa continues to engage the United States (US) government on the reciprocal tariffs
President Cyril Ramaphosa notes with concern the reciprocal tariffs imposed by the United States (US) on South African products. The reciprocal tariffs have been imposed by the US on a significant number of its trade partners and South Africa has not been spared. South Africa will continue negotiating with the US regarding the 30 percent tariff announced by the US, which will come into effect on or after 12h01 eastern daylight time, 7 days after 1 August 2025. All applicable exceptions published in the previous US Executive Order are set to remain in force and these exceptions covered products such as copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, stainless steel scrap and energy and energy products. Government has been engaging the United States, and has submitted a Framework Deal that aims to enhance mutually beneficial trade and investment relations. All channels of communication remain open to engage with the US and our negotiators are ready pending invitation from the US. In the meantime, Government is finalising a package to support companies that are vulnerable to the reciprocal tariffs. The package consists of a number of measures to assist companies, producers and workers affected by the tariffs on SA exports to the US. The details of the measures will be announced in due course. South Africa and US trade relations are complementary in nature and South African exports do not pose a threat to US industry. Importantly, SA exports to the US contain inputs from the African Continent and contribute to intra-Africa trade. South Africa will continue to pursue all diplomatic efforts to safeguard its national interests. It is important that as a country we keep our people at work and our companies producing some of the high-quality products destined for many parts of the world. To this end, Government will intensify its diversification strategy to create resilience of our economy and is working with export councils and industry associations, as well as top exporters to the US with a view to assist with alternative markets. In this regard, an Export Support Desk to provide updates on development and provide advisory services to exporters has been established. The details are to be published by the Department of Trade, Industry and Competition on its website. Government, through the dtic is also in constant contact with the US on the Framework Deal. The Executive order published by the United States today clarifies that goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12h01 eastern daylight time, 7 days after 1 August 2025, and entered for consumption, or withdrawn from warehouse for consumption, before 12h01 eastern daylight time on 5 October 2025, shall not be subject to such additional duty and shall instead remain subject to the additional ad valorem duties previously imposed in Executive Order 14257, as amended. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.
Zawya
14 hours ago
- Zawya
The impact of interest rate: Gainers and losers
Interest rate, arguably one of the most potent instruments in the toolkit of central banks, has always had a disproportionate impact on the economic lives of people. Underneath the technical language of monetary policy lies a deeper socio - economic divide, when interest rates move, someone gains and someone loses. But the pattern of winners and losers is rarely random. Often, it follows a familiar script written by the invisible hand of capitalism itself. Let's begin with a simple question. What happens when a bank raises the interest rate on loans from 6 per cent to 8 per cent? For many middle-income and working-class individuals who rely on bank loans for essential needs like housing, education, or transportation, this increment can mean hundreds of extra rials every year, an amount they can ill afford. Conversely, those with financial leverage corporations, investors, and individuals with capital parked in savings or fixed deposits stand to gain from higher returns. The system, by design, rewards the lender and penalises the borrower. This phenomenon is not merely theoretical. It is visible in real-world case studies. Take the United States in the early 1980s under Federal Reserve Chairman Paul Volcker, when interest rates soared to nearly 20 per cent to combat inflation. The move crushed inflation, yes but it also triggered a severe recession. Businesses collapsed under the weight of expensive credit, unemployment surged, and yet those with Treasury bonds and fixed - income assets enjoyed windfall profits. The capitalist class, with access to capital and credit, emerged largely unscathed, while millions of workers bore the brunt. Economist Thomas Piketty, in his seminal work Capital in the Twenty-First Century, argued that when the rate of return on capital (r) consistently exceeds the rate of economic growth (g), wealth concentrates at the top. Interest rates, especially when used to fight inflation, often accelerate this imbalance. When central banks raise rates to "cool down" the economy, what they often end up doing is cooling down job creation and wage growth areas that affect the lower and middle classes most, while asset holders continue to enjoy gains from safer, interest-bearing investments. In Oman, the pattern is not very different. The average citizen relies heavily on personal loans to manage rising costs, education, healthcare, housing, while fixed deposits and treasury bonds remain the domain of the financially literate and wealthy. The difference between being a borrower and a depositor isn't just financial; it is deeply structural. It determines who thrives and who merely survives. Interest rate theory itself has evolved over time. From the classical theories of interest proposed by Irving Fisher, where interest is seen as a reward for saving to Keynesian interpretations, where interest is more about liquidity preference and the demand for money, the debate has always orbited around who gets to control money, and at what price. Keynes, in The General Theory of Employment, Interest and Money, was especially critical of high interest rates during recessions, warning that they discourage investment and prolong economic stagnation. Yet, ironically, under modern capitalism, it is not uncommon for central banks to hike interest rates in the name of 'stability,' even at the cost of suppressing growth. In Islamic finance, which prohibits riba (usury or interest), the moral lens adds yet another perspective. The prohibition stems from a concern for fairness, mutual risk-sharing, and social justice. Here, profit should be the result of shared effort or trade, not from the exploitation of someone else's need. One might ask, in a society where borrowing money comes at a cost that outweighs its utility, can we claim that justice prevails? Even more subtly, interest rates affect societal behavior. When savings become more profitable due to high interest, people tend to consume less. This hurts businesses that rely on consumer spending, leading to layoffs and economic slowdown. When borrowing becomes too costly, small entrepreneurs and startups retreat from investing in innovation. The ripple effect can suffocate long-term growth in favor of short-term monetary discipline. What remains unspoken in most public discussions about interest rates is that the financial system does not operate in a vacuum. It is embedded in a capitalist structure that rewards those who already have more to lend and penalizes those who must borrow to live. In essence, the interest rate is not just a number it is a reflection of power. So, when we ask who wins and who loses from a change in interest rates, we're really asking a deeper question: Who controls the flow of money, and for whose benefit? The answer, unfortunately, is becoming clearer with every monetary policy announcement. The capitalist system tilts the playing field, and unless consciously corrected through inclusive financial policies, it will always favor the gainer over the loser. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Khaleej Times
16 hours ago
- Khaleej Times
Trump orders tariffs on dozens of countries, to take effect in a week
President Donald Trump ordered the reimposition of tariffs on dozens of trading partners Thursday, his cornerstone strategy for reshaping global trade to benefit the US economy. However, in a minor reprieve that opens the door to further negotiations, the White House said these measures will take effect in a week, not Friday as previously expected. The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while encouraging domestic manufacturing by keeping out foreign imports. But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy. And with questions hanging over the effectiveness of bilateral trade deals already struck, including with the European Union and Japan, the outcome of Trump's plan remained uncertain. Trump's new measures in an executive order raises duties on nearly 70 economies, from a current 10 per cent level imposed in April when he unleashed "reciprocal" tariffs citing unfair trade practices. The steeper levels, varying by trading partner, go as high as 41 per cent. Trump also adjusted some tariff levels threatened in April, with Switzerland now facing a higher 39 per cent duty and Thailand a lower 19 per cent rate. The tariff on Taiwanese products was revised down to 20 per cent, but its President Lai Ching-te vowed to seek an even lower level. Trump separately hiked tariffs on Canadian goods to 35 per cent, though indicating in an NBC interview he was open to further talks. Canada and Mexico face a separate tariff regime. But exemptions remain for imports entering the United States under a North American trade pact. "No doubt about it, the executive order and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since World War II," said Wendy Cutler, senior vice president of the Asia Society Policy Institute. "Whether our partners can preserve it without the United States is an open question," she added. Frantic negotiations The elevated duties come after Washington twice postponed their implementation amid a frantic series of negotiations, alongside announcements of new duties and deals with partners. Just Thursday, Trump announced he was delaying a tariff hike on Mexican products, keeping levels at 25 per cent with existing exemptions. The 90-day postponement followed talks with his counterpart Claudia Sheinbaum. The 79-year-old Republican has made tariffs core to his protectionist brand of hard-right politics. On Thursday, he claimed that the US economy had "no chance of survival or success" without tariffs. But the latest salvo came amid legal challenges against Trump's use of emergency economic powers. After a lower court said the president exceeded his authority, the US Court of Appeals heard arguments Thursday in cases against Trump's blanket tariffs targeting different countries. While Trump has touted a surge in customs revenues this year, economists warn the duties could fuel inflation. Proponents of his policy argue their impact will be one-off, but analysts are awaiting further data to gauge for more persistent effects. China remains a question mark Those who managed to strike deals with Washington to avert steeper threatened levies were Vietnam, Japan, Indonesia, the Philippines, South Korea and the EU. Britain also reached a pact with the United States, although it was not originally targeted by higher "reciprocal" tariffs. For Canada, transshipped goods to evade its 35 per cent duty would face even higher levels, said a White House fact sheet. Its trade ties with Washington faced renewed threat after Prime Minister Mark Carney announced plans to recognise a Palestinian state at the UN General Assembly in September. Trump's latest order however appeared to raise tariffs on several countries not initially targeted in April, to 15 per cent, including Ecuador, Ghana and Iceland. Notably excluded from the drama was China, which faces an August 12 deadline instead, when duties could bounce back to higher levels. Washington and Beijing at one point brought tit-for-tat tariffs to triple-digit levels, but both countries have agreed to temporarily lower these duties and are working to extend their truce.
