ALEXANDRIA / WAM Units from the UAE Armed Forces are participating in the joint military exercise, entitled, “Saif Al Arab,” held in Egypt and attended by many friendly countries. Dubbed “The Sword of Arabs”, the exercise began on Tuesday and will continue until November 26 at the Mohamed Naguib Military Base and other parts of the Northern Military Region. Over ...

Bloomberg Physical cargoes of crude oil from Russia, the US and the Middle East were getting snapped up at higher prices as buyers across Asia entered a bidding war to secure supplies. January shipments of Russian ESPO, a favourite among Chinese and Japanese refiners, were sold at a five-month high premium over Dubai prices after spot differentials for Sokol rose ...

Bloomberg South Africa’s power utility, the nation’s biggest producer of greenhouse gases that mainly uses coal for electricity generation, is working on a plan aimed at net zero emissions by 2050. Eskom Holdings SOC Ltd “has an aspirational vision” of reaching the goal, which includes the creation of jobs, the utility said in a reply to questions. “We are currently ...

Bloomberg Delta Air Lines Inc is sidestepping millions of dollars in US tariffs on European jetliners by initially routing them far outside the country to such places as Amsterdam, Tokyo and El Salvador. The US carrier has taken delivery of seven European-built Airbus SE planes since President Donald Trump’s levies took effect in October 2019. Rather than flying them home ...

Bloomberg US regulators plan on Wednesday to unveil the long-awaited final requirements for allowing Boeing Co’s grounded 737 Max to return to service after 20 months, according to a person briefed on the plans. The Federal Aviation Administration (FAA) has begun notifying the aviation industry of its schedule, said the person, who wasn’t able to discuss the matter publicly and ...

Bloomberg AirAsia Japan Co has filed for bankruptcy with the Tokyo District Court after flagging last month it would cease operations in the country, as the coronavirus pandemic that’s wiped out travel globally took its toll. The arm of Malaysia’s AirAsia Group Bhd then received a provisional administration order from the court on Tuesday, it said in a statement. “Given ...

Bloomberg EasyJet Plc extended the terms of a government-backed loan in the UK to bolster liquidity as a new wave of coronavirus lockdowns crimps travel in Europe. Britain’s biggest discount airline posted a loss of 835 million pounds ($1.1 billion) for the year through September, within a range already announced, and said in a statement on Tuesday that it will ...

Bloomberg Greater Toronto Airports Authority (GTAA) is monitoring bond market conditions as its most recent debt deal outperforms the wider Canadian dollar corporate bond market. GTAA’s C$500 million ($382 million) of secured bonds due 2028 were quoted at a spread of around 88 basis points over similar-duration government securities, or around 21 basis points tighter than where they were first ...

Bloomberg Carlyle Group Inc is weighing new plans to sell Hunkemoller, the Dutch swimwear retailer, according to people familiar with the matter. The US private equity firm is working with investment bank JPMorgan Chase & Co on a potential sale of the business next year, the people said, asking not to be identified discussing confidential information. No final decisions have ...

Bloomberg A global stock rally powered by hopes that new Covid-19 vaccines will bolster economic growth paused on Tuesday as investors weighed the near-term spread of the virus. The Stoxx Europe 600 Index fluctuated at the open, while S&P 500 futures retreated a day after the underlying benchmark closed at an all-time high on news that Moderna Inc’s vaccine was ...