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Singapore / AFP Oil prices turned lower again on Monday as Iran prepared to ship its first consignment of the commodity since sanctions were lifted, reigniting worries over a global supply glut. Both main contracts had soared more than 10 percent on Friday on a report that the OPEC producers’ club was open to output cuts that could drag prices ...

Singapore/ Bloomberg Asia’s biggest airshow kicks off in Singapore this week amid a rout in the global financial markets. You can’t tell any of that looking at plane orders for Airbus Group SE and Boeing Co. The heydays of multi-billion orders from India and nations in Southeast Asia is giving way to concerns about airlines in the region delaying delivery ...

DUBAI / WAM Air freight traffic at Dubai’s second airport, Dubai World Central (DWC), rose 7.7 percent during 2015, according to the year-end traffic report issued by operator Dubai Airports. Air cargo volumes for the year totalled 888,714 tonnes, up 7.7 percent from 824,933 tonnes recorded during 2014. Year-on-year cargo volumes increased despite a dip in fourth quarter traffic when ...

Manila / Bloomberg Philippine Airlines is considering making an announcement of new plane orders as plane makers Airbus Group SE and Boeing Co. seek to revive sales in a region battling overcapacity. The flag carrier is considering Wednesday for its announcement, President Jaime Bautista said in an interview. Bautista declined to comment on what model the carrier has chosen. The ...

Kuala Lumpur / Bloomberg Malaysia Airlines Bhd. is on track to return to profitability by 2018, helped by job cuts and route changes undertaken as the company reeled from two high-profile plane crashes in 2014. The airline’s restructuring effort is proceeding as planned and the company is finished laying off employees, Mueller said in an interview on Monday with Bloomberg ...

SINGAPORE/ AFP Civilian drones are increasingly becoming a “real and growing threat” to the safety of commercial aviation, industry group IATA warned, calling for regulations to be put in place before any serious accidents occur. Tony Tyler, director-general of the International Air Transport Association (IATA), said the threat posed by unmanned aerial vehicles is still evolving as people are only ...

Bloomberg Last year was one of the safest for airlines with the number of fatal accidents falling by two thirds – if you excluded more than 300 deaths resulting from a pilot suicide and possible terror attack. There were four fatal accidents, all involving turboprop aircraft, in 2015, down from 12 a year earlier, the International Air Transport Association (IATA) ...

DUBAi / WAM With the approval of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the ministers of the 12th Cabinet of the UAE government took the oath on Sunday before Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, at Mushrif Palace in Abu Dhabi, in the presence ...

Dubai / WAM According to Hussain Nasser Lootah, Director-General of Dubai Municipality, the population of Dubai is expected to increase to five million by 2030. Lootah was speaking on the final day of the fourth World Government Summit in Dubai, in which his speech addressed the issues of the consequences of an increasing population and depleting natural resources, an increase ...

Bloomberg Dubai stocks led a rally across Gulf Arab equity markets after oil jumped the most in seven years on Friday. The DFM General Index rose for the first time in four days on Sunday, gaining 1.6 percent at 10:44 am local time. Emaar Properties PJSC, the developer of the world’s tallest skyscraper and the company with the biggest weighting ...