For all the disagreement in the industry about the future of aviation, there’s perfect accord on one point: There’s going to be a lot more of it. The world’s air passengers flew a combined 7.64 trillion kilometers (4.75 trillion miles) in 2017, according to Boeing Co.’s latest 20-year market outlook. By 2037, that will rise to 18.97 trillion kilometers, with ...

Bloomberg India’s government is asking the central bank to hand over a part of its surplus reserves and loosen liquidity norms for lenders — demands that are likely to escalate a standoff with the monetary authority that’s fiercely protective of its independence. The matter is pending before the board of the Reserve Bank of India and may be taken up ...

Bloomberg It’s time to start loading up on “cheap” yen. Using options to bet on gains for Japan’s currency is a smart wager for 2019, according to Societe Generale. The yen reached its weakest since early October, before recovering as concern over China’s economy fuelled declines in global equities and eroded risk appetite. The yen traded at 113.85 per dollar ...

Bloomberg China’s biggest banks dragged down the stock market as investors took a dim view of the government’s unprecedented move to tell firms exactly how much they must lend to the country’s struggling private sector. At least a third of new loans should go to non-state companies, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said. Private ...

Bloomberg The man poised to become chairman of Danske Bank A/S is aware that the task ahead is huge. If elected to the post this month, Karsten Dybvad says he and the board will spend the “coming years” trying to “restore confidence in the bank.” The 62-year-old trained economist has been handpicked by Danske’s biggest shareholder, A.P. Moller Holding A/S. ...

Bloomberg Spanish banks were hit for the second time in a week after the Mexican government proposed scrapping certain bank commissions, including ATM withdrawal fees. Banco Bilbao Vizcaya Argentaria SA plummeted as much as 7 percent, the biggest intraday drop in two years. The lender was down 5.7 percent as of 4:25 pm in Madrid trading, the largest decliner in ...

DUBAI / WAM The Dubai Diamond Exchange (DDE), in collaboration with Stargems Group, announced the completion of six successful rough diamond tenders of SACIM goods (Anhui-Congo Mining Investment Company) with over two million carats auctioned. The tenders were held at Almas Tower with around 200 diamond companies in attendance and facilitated by Dubai Diamond Exchange, a subsidiary of DMCC. Earlier ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan, issued a federal law, authori- sing UAE Cabinet to grant temporary licenses for tes-ting and vetting of innovations that utilise future tech and its applications such artificial intelligence (AI). The study towards developing new legislations will begin with launch of RegLab in January 2019. RegLabwill be largest lab ...

SHANGHAI / WAM The Abu Dhabi National Oil Company (Adnoc) announced, on Saturday, it has concluded a new long-term liquefied petroleum gas (LPG) sales agreement with Wanhua Chemical Group of China. Under the terms of the 10-year contract, Wanhua will purchase up to 1 million metric tonnes of LPG per annum. The agreement, which was signed by Abdulla Salem Al ...

WARSAW / WAM Prospects of propelling economic cooperation between the UAE and Poland were the main topic of discussions as Mohammed Sharaf Al Hashemi, Assistant Minister of Foreign Affairs and Inter-national Cooperation for Economic and Commercial Affairs, met Deputy Minister for Polish Diplomacy, Maciej Lang, in in Warsaw. “There are promising pros-pects of intensifying cooperation between two sides,” said Al ...