Dubai Aerospace Said to Seek Buyer for Aircraft Maintenance Unit
DAE is working with Morgan Stanley on a potential sale of its 80% stake in the Jordan-based aircraft maintenance, repair and overhaul company Joramco, the people said, asking not to be named as the information is private. Plans are at an early stage and may not result in a deal, the people said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
4 minutes ago
- Business Insider
A 'seismic' 39% tariff on Switzerland is rocking the watch world, and even pre-owned Rolexes could see price hikes
Watch collectors might want to skip the Rolex boutique and head straight for the pawn shop this year. That is, if the Trump administration's new 39% tariff on goods from Switzerland sticks. The White House released updated tariff plans on Thursday, raising the rate from the proposed 31% announced earlier this year. The tariff escalation caught the watch community off guard. Switzerland is a manufacturing hub for luxury watches like Rolex and Cartier. Eugene Tutunikov, CEO of watch marketplace Swiss Watch Expo, told Business Insider the announcement "was a complete shock" and that "its effects will be immediate." Leading brands, including Rolex, have already raised prices in the US this year, likely in response to tariffs, Morgan Stanley analysts wrote in a July report about the Swiss watch market. US imports of Swiss goods have faced a 10% baseline tariff since April. A new 39% tariff on Swiss imports to the US would put more pressure on luxury watchmakers. That could lead to higher prices on Swiss-made goods shipped to the US, or less inventory for American shoppers. While the Swiss government could still try to negotiate, the tariff is currently set to take effect on August 7. Collectors and watchmakers may soon have to reckon with this new reality. Joshua Ganjei, CEO of watch marketplace European Watch Company, thinks more shoppers will turn to pre-owned models of high-end watches like Rolexes over brand-new ones. After all, a secondhand watch from a US-based seller won't face the added cost of a new Swiss-made model shipped from overseas. "For many American collectors, the 39% tariff instantly turned new releases from Swiss brands into a luxury few can justify," Ganjei said. According to the Morgan Stanley report, pre-owned watch dealers have reported an increase in demand this year since Swiss-made brands began raising their prices in the US. Prices in the secondhand market have been falling since mid-2022, though the rate of decline has narrowed. Pre-owned watches could also get more expensive, though. While the inventory already in the US won't face tariffs, heightened demand could drive up prices on the secondary market as well. Tutunikov said he thinks the pre-owned market will react to higher tariffs "much faster" than large retailers and hike prices sooner. He expects prices on the secondary market to jump as much as 10% in the next month and potentially reach up to 35% in the next six months, "as demand overwhelmingly shifts to available inventory." "This isn't just a tax; it's a seismic event that will cause a stark divergence between the new and pre-owned markets," Tutunikov said.
Yahoo
6 minutes ago
- Yahoo
Why AbbVie Stock Flew Higher on Friday
Key Points A trio of analysts raised their price targets on the pharmaceutical sector mainstay. This came a day after it published second-quarter results. 10 stocks we like better than AbbVie › A bellwether stock in the lately rather up-and-down pharmaceutical sector, AbbVie (NYSE: ABBV) finished the trading week in style. The company's shares closed more than 3% higher in price thanks in no small part to a clutch of post-earnings analyst price-target increases. With that performance, Abbvie crushed the S&P 500 index, which dived by 1.6% on the day. A bullish stampede As typically happens when a publicly traded company posts better-than-expected quarterly results, those pundits made the positive changes a day after AbbVie published its estimates-besting second-quarter figures. None of the price-target hikes were particularly dramatic, but since they came from analysts already bullish on AbbVie, they boosted sentiment on the stock. Morgan Stanley's Terrance Flynn now feels the shares are worth $255 apiece, up from his previous level of $250. His peers Gary Nachman at Raymond James and Guggenheim's Vamil Divan also upped their fair value assessments. In the former's case, he added $9 per share for a new price target of $236, while the latter increased his to $227 from $216. All three analysts maintained their equivalent of a buy recommendation on the stock. Blockbuster success Divan's note detailing his price-target change indicated the general tone of those modifications. According to reports, the pundit expressed admiration for the company's performance, singling out the growth in sales of certain blockbuster drugs, notably Skyrizi. Divan pointed out that much of this improvement was due to volume growth, meaning demand remains strong for such products. Should you buy stock in AbbVie right now? Before you buy stock in AbbVie, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and AbbVie wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie. The Motley Fool has a disclosure policy. Why AbbVie Stock Flew Higher on Friday was originally published by The Motley Fool 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
Business Upturn
7 minutes ago
- Business Upturn
Nibe secures Rs 6.12 crore defence order from Israel's Elbit Systems Land
By Aman Shukla Published on August 2, 2025, 13:43 IST Nibe Limited has announced the receipt of a significant international order from Elbit Systems Land Ltd, a renowned Israel-based defence technology company. Under the terms of the agreement, Nibe will manufacture and supply parts for the GATR 70mm Guided Rocket (10km range), with the total contract valued at USD 700,000, approximately ₹6.12 crore. The order, which falls under the purview of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is scheduled for completion by September 2026. This marks a key milestone for Nibe Limited in the global defence manufacturing sector and highlights its growing presence in international markets. This development reflects Nibe's increasing capabilities in high-precision manufacturing for defence applications and opens new avenues for future international collaborations. The company continues to focus on delivering high-quality components aligned with global defence standards. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
