A group of significant players in the aviation industry are cooperating to form a new alliance in the field of aircraft modification.
As leading companies in the retrofit industry, Etihad Airways Engineering, EAD Aerospace, Lufthansa Technik and Envoy Aerospace have signed a Memorandum of Understanding (MoU) to form the Independent Aircraft Modifier Alliance (IAMA).
IAMA aims to encourage aircraft owners and operators to modify and modernise their fleets through high quality equipment and rigorous inspections, irrespective of which IAMA members provide the engineering services.
The main objectives of the Independent Aircraft Modifier Alliance are to agree to common standards for the documentation and quality of Supplemental Type Certificates,
to establish an open, secure documentation platform for airline customers and aircraft owners using STCs, and to inform the relevant public and expert communities about the advantages of STC approved solutions.
The launch meeting of the IAMA is scheduled for spring 2019. The Independent Aircraft Modifier Alliance is open to all market participants including aircraft manufacturers, airlines, suppliers and lessors.
IMAX announced record-shattering opening box office during the Chinese New Year. Driven by the strong performance of three IMAX local-language films – The Wandering Earth, Crazy Alien and Pegasus – IMAX grossed ?217 million (US$32.3 million) over the period starting Feb. 5 across 599 IMAX theatres in China.
The Wandering Earth, China’s first big-budget sci-fi film, led the pack grossing more than ?185 million (US$27.6 million) in IMAX to become the highest grossing local-language film ever for IMAX.
IMAX represented more than 9% of the film’s overall gross. The film also set new IMAX records for biggest opening week and biggest single day and best three-day performance for a local-language title.
The Wandering Earth was also released exclusively in 33 IMAX 3D theatres in North America on Feb.5, three days ahead of its wider release,
grossing US$775,000 for a per screen average of US$23,500 and setting a new record as IMAX’s highest grossing Chinese release in the market.
Following the approval of all relevant authorities, BASF and Solenis have completed the transfer of BASF’s paper wet-end and water chemicals business to Solenis as announced in May 2018.
The combined company is positioned to provide an expanded product portfolio and cost-effective solutions for paper and water treatment customers.
BASF will hold a 49% share, 51% of the shares will be held by funds managed by Clayton, Dubilier & Rice and the Solenis management.
From closing, BASF will account for its share in Solenis using the equity method and include its share of the company’s net income in EBIT before special items and EBIT for the BASF Group .
BASF’s paper and water chemicals production plants strongly embedded in the Verbund in Ludwigshafen, Germany, and Nanjing, China, are not transferred, and will deliver products and raw materials to the combined entity under mid- to long-term supply agreements. BASF’s paper coating chemicals portfolio is not part of the transaction.
Google's top policy chief has called for "common rules of the road" globally when it comes to the regulation of technology, amid ongoing debate around the world on how to create legislation for the internet economy.
Karan Bhatia, vice president of global public policy and government relations at Google, said that while a one size fits all approach to regulation would not work, he would welcome some "convergence" of regulation globally.
"Some coordination on this, some level of collaboration, I think is going to be absolutely critical. We are very supportive of international efforts on multiple fronts to sort of create that level of dialogue and ideally common rules of the road," Bhatia said at the World Government Summit in Dubai on Sunday.
On the panel at the World Government Summit, Margaret Peterlin, senior vice president of global external and public affairs at AT&T, also called for a "convergence" of laws for technology firms and called for federal legislation.