Boeing is set to make USD $50 million (AED 183.6 million) in payments to families of the victims of two 737 MAX crashes.
The model, which is Boeing’s best-selling jet, was grounded around the world in March.
It came after an Ethiopian Airlines and Lion Air plane crashed in similar circumstances, killing 346 people in total.
Ken Feinberg, who is a veteran compensation expert, was hired by Boeing to oversee the distribution of funds.
H.H. Sheikh Hamdan praises progress of Dubai Cashless Strategy
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has praised the progress of the Dubai Cashless Strategy, with cashless transactions now accounting for 90.1 per cent of all transactions in the Emirate.
DIEZ doubles size of Oraseya Capital fund to AED1 billion
The Dubai Integrated Economic Zones Authority (DIEZ) has announced the doubling of the venture capital fund managed by its investment arm, Oraseya Capital, from AED500 million to AED1 billion.
UAE ranked top worldwide in AI integration across key sectors
The United Arab Emirates has ranked first worldwide in Artificial Intelligence integration, with 70.1 per cent of its working-age population using AI.
UAE to participate in annual IMF, World Bank meetings in Bangkok
A UAE delegation is set to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), taking place in Thailand's Bangkok from October 12-18.
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