Bloomberg The second fatal crash of a Boeing Co. 737 Max aircraft in less than five months is creating a new hierarchy in aviation safety. Thrusting to the top: China. Three days after an Ethiopian Airlines jet crashed, killing all 157 people on board, country after country ignored assessments by the US Federal Aviation Administration that the plane is safe …
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Bloomberg A pilot shortage for one. A cash crunch for another. And now the Boeing Max crisis. As Indian airlines ground plane after plane, passengers can expect to pay a lot more. Airfares for domestic travel may rise by 20 percent heading into the annual school break, a prime time for families to travel, according to an online booking firm. …
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Bloomberg Inditex SA fell the most in 2019 after the Spanish owner of the Zara apparel chain reported the weakest earnings growth in five years, showing it’s not immune to the retail malaise that has burdened rival Hennes & Mauritz AB. Even a more generous dividend policy unveiled on Wednesday failed to stem the decline. The shares fell as much …
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Emirates business The International Air Transport Association (IATA) called on governments and the air cargo industry to focus on three priorities to accommodate the expanding demand for air cargo and ensure the economic and social benefits of aviation can be maximised. The three priorities are: Accelerating the speed of process modernisation; Implementing and enforcing global standards; and keeping borders open …
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DUBAI / WAM Dubai-based master developer Nakheel is heading back to MIPIM, the leading real estate exhibition held at Palais des Festivals in Cannes, France, for the fourth year. The developer will showcase plethora of real estate investment opportunities — including newly-launched residential projects — collectively worth more than $15.8 billion. Nakheel, which first represented Dubai at MIPIM in 2016, …
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Bloomberg Boeing Co. grappled with more groundings of its most important airliner as operators from Brazil to South Korea idled the 737 Max following a second deadly crash, throwing the US manufacturer deeper into crisis. In a sign that the tragedy in Ethiopia, which killed everyone on board, threatens to become a commercial fiasco for Boeing, launch customer Lion Air …
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Bloomberg The rally in US technology stocks continued, with Apple and Visa leading the pack as investors grew confident the Federal Reserve won’t rush to raise rates. Boeing and Brexit otherwise dominated headlines, as the planemaker’s woes deepened and the pound fell before a key vote. The Nasdaq 100 took its two-day advance towards 3 percent after wobbling earlier in …
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Bloomberg India’s benchmark equity index extended gains with the highest close in more than five months after two opinion polls showed Prime Minister Narendra Modi’s ruling coalition would be close to getting the seats needed to form a government, when election results are announced in May. The S&P BSE Sensex climbed 1.3 percent to 37,535.66 at the 3:30 p.m. close …
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Bloomberg The decision of the world’s largest sovereign wealth fund to reduce holdings in oil stocks wasn’t as far-reaching as the industry feared, but dealt a symbolic blow to fossil fuels that will reverberate for energy companies and their investors. While the divestment by Norway’s $1 trillion fund doesn’t include Big Oil, instead rooting out $7.5 billion of companies that …
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Bloomberg Canada’s oil producers made a small dent in their near-total dependence on the US market after a surge of shipments flowed to China and the UK last year. The holder of the world’s third-largest crude reserves sent 3.43 million barrels a day, or 96.4 percent of its oil exports, to its southern neighbour, the smallest percentage in data stretching …
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