Boeing urges ExIm revival in US


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The US plane maker Boeing will not be able to compete on a “level playing field” with European rival Airbus if American politicians do not revive the US Export-Import Bank (ExIm), a top official said yesterday.

ExIm financed $27 billion worth of US exports last year, and Boeing was the largest beneficiary with loans and guarantees of $7bn.

“Without it [ExIm] we are not at level playing field with our competition. We have one bank in the US, [while the] Europeans have three,” said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes.

Blocking the bank would represent a major blow to the Seattle-based aircraft manufacturer and a boon for Airbus.

“It is a challenge to us and our customers. They also like an array of channels to finance their aircraft. They like a balance in their portfolio,” Mr Tinseth said.

Late last month, the US House of Representatives voted to revive the ExIm bank, after the bank closed for new business on July 1 when conservatives voted not to renew its charter.

The move not to reauthorise the 81-year-old institution led to protests from companies such as Boeing and General Electric, which benefit from the bank’s funding.

Asked about the effect on their international sales if ExIm is permanently shut down, Mr Tinseth said: “I’m not going to speculate, but it is important to us today. All we can do is to make our case.”

Boeing yesterday also forecast that airlines in the Middle East will need 3,180 aircraft over the next 20 years, with an estimated value of $730bn.

UAE airlines are major customers of Boeing. Emirates Airline is the largest operator of the company’s 777 aircraft. At the 2013 Dubai Airshow, the Dubai carrier placed a $76bn order for 150 of the 777X aircraft due to come into service in 2020.

Separately, Mr Tinseth said that other than the Gulf’s big three carriers, the Egyptian market is the one to watch “very carefully and closely”.

He said: “It is a big market in terms of population, growing economy. It is starting to stabilise again.”

Last week, Egypt Air’s chief executive said that the airline would take a call on whether to buy or lease new planes next year.

selgazzar@thenational.ae

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Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
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if you go

The flights

Air France offer flights from Dubai and Abu Dhabi to Cayenne, connecting in Paris from Dh7,300.

The tour

Cox & Kings (coxandkings.com) has a 14-night Hidden Guianas tour of Guyana, Suriname and French Guiana. It includes accommodation, domestic flights, transfers, a local tour manager and guided sightseeing. Contact for price.

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Ticket prices

General admission Dh295 (under-three free)

Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free

Buy tickets at: wbworldabudhabi.com/en/tickets

The years Ramadan fell in May

1987

1954

1921

1888

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 

Review: Tomb Raider
Dir: Roar Uthaug
Starring: Alicia Vikander, Dominic West, Daniel Wu, Walter Goggins
​​​​​​​two stars

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AT4 Ultimate, as tested

Engine: 6.2-litre V8

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Transmission: 10-speed automatic

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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

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Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
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MATCH INFO

Real Madrid 3 (Kroos 4', Ramos 30', Marcelo 37')

Eibar 1 (Bigas 60')