Bloomberg The International Monetary Fund (IMF) warned that the world economy still faces an uneven recovery until the coronavirus is tamed even as it offered a less-dire view of this year’s recession following massive stimulus from central banks and governments. The fund now forecasts world gross domestic product (GDP) to shrink 4.4% this year, compared with the 5.2% drop seen …

Dubai / WAM Union Properties announced on Tuesday its financial results for the three-month period ended on September 30, with a net profit of AED509.2 million (approximately 12 fils per share), while the profit for the nine-month period of the current year reached to AED348.8 million (approximately 8 fils per share). With these realised profits, the group has cleared all …

Bloomberg The oil market will suffer a long-lasting blow from the coronavirus, with demand taking years to recover and peaking at a lower level, the International Energy Agency (IEA) said. After an unprecedented 8% drop this year, global oil consumption will return to pre-crisis levels in 2023, provided Covid-19 is brought under control next year, the Paris-based agency said on …

Bloomberg SSE Plc rose after it agreed to sell its 50% stakes in two energy from waste ventures as part of its plan to focus on renewable generation. The Scottish utility will sell its holdings in Multifuel Energy Ltd and Multifuel Energy 2 Ltd to the European Diversified Infrastructure Fund III, a fund managed by First Sentier Investors, for a …

Bloomberg Amazon.com’s two-day Prime Day sale kicked off on Tuesday, which is expected to give the world’s largest e-commerce company an early advantage over brick-and-mortar rivals still contending with pandemic-spooked consumers wary of battling Black Friday crowds. With Prime Day delayed to October from July this year, Amazon single-handedly could yank the pivotal holiday season forward — a long-predicted “Christmas …

Bloomberg Apollo Global Management Inc’s Sun Country Airlines is planning to restart its push for an initial public offering as soon as next year if travel demand picks up across the industry, said the carrier’s top executive. Sun Country’s core business of taking Midwest leisure travellers to Florida, Las Vegas and other warm-weather destinations has already recovered enough to turn …

Bloomberg Allegiant Airlines is weighing purchases of used Airbus SE planes as soon as early 2021, bucking an unprecedented travel collapse that has gutted demand for jetliners. The carrier has been “inundated” with calls from airlines and aircraft lessors seeking to sell planes at deep discounts as they contend with the coronavirus pandemic, said Allegiant Chief Financial Officer Greg Anderson. …

Bloomberg Singapore Airlines Ltd said all seats on its Airbus SE A380 jetliner pop-up restaurants were reserved within 30 minutes of bookings opening. With flights largely grounded by the coronavirus pandemic, Singapore Airlines is trying novel ways to raise money, including using two of the superjumbos parked at Changi Airport as temporary eateries. A meal in a suite costs S$642 …

Bloomberg Pilots of an Airbus SE A320neo jet in India shut down a Pratt & Whitney engine mid-air last month after it encountered problems, people familiar with the incident said, reviving concerns about the turbines that have been plagued by issues since their debut in early 2016. The twin-engine jet, operated by Go Airlines India Ltd, landed safely using its …

Bloomberg Poland’s newest stock listing was a roaring success on its first day of trading, taking over as the biggest stock on the country’s main exchange and adding almost two-thirds in market value. Allegro.eu SA shares jumped 63% to close at 70 zloty in its first trading session in Warsaw on October 12, lifting the company’s value to 72 billion …