Bloomberg South African Airways (SAA) has identified Vodacom Group Ltd. executive Vuyani Jarana as the leading candidate to become the struggling state-owned carrier’s first permanent chief executive officer since November 2015, according to three people familiar with the matter. The debt-laden airline hasn’t made a profit since 2011 and is in talks with banks about repaying or refinancing 8.9 billion ...

Bloomberg Airlines and overseas airports will struggle to meet deadlines for implementing broad new security requirements on flights to the US, airline industry groups and consultants say. Airports have a short timeline to comply with a few of the directives the Department of Homeland Security, according to a memo from the International Air Transport Association to its members. Some technology ...

Bloomberg Alphabet Inc. said that the European Commission’s recent antitrust fine will reduce second-quarter profit by about $2.74 billion. The company plans to report the fine in a separate operating expense line on its income statement. It’s not tax deductible, so the charge will reduce Alphabet’s net income and earnings per share by the full $2.74 billion amount, it said ...

DUBAI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has announced that construction works have reached 50% on the First Contract of Improvement of Airport Street Project covering Rashidiya & Casablanca Intersections. He also added that completion rate had reached 40% for the Second Contract covering Nad Al ...

DUBAi / WAM Dubai Electricity and Water Authority (DEWA) has awarded a contract worth AED226.5 million for the construction work for a complex for its Distribution Power division at Al Ruwaiyah, Dubai. The contract includes the construction of a five-floor office building with basement and a multi-story car park, mosque, accommodation for the Imam, stores, field offices, staff accommodation, and ...

ABU DHABI / WAM Abu Dhabi General Services Company, Musanada, has announced that work is progressing in seven infrastructure projects at the area of Abu Dhabi east, as part of Musanada’s efforts to achieve the objectives of Abu Dhabi Plan, delivering sustainable infrastructure that will serve Emirate’s community and economy in line with best international standards and reinforce Abu Dhabi’s ...

LONDON­­­­ / Reuters OPEC oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers. High compliance by Gulf producers Saudi Arabia and Kuwait helped keep OPEC’s adherence with ...

Bloomberg Oil companies have spent three years slashing spending and firing workers to protect profits, only to find their hard work blown away as prices entered another bear market. The MSCI World Energy Sector Index is heading for a second consecutive quarter of declines, mirroring the drop in crude. The 90 companies that make up the index, including giants like ...

Bloomberg Mexico is racing against the clock to get natural gas pipelines online this summer. The nation has found itself “in a tight situation,” David Madero, who oversees the government’s Natural Gas Control Center, said in an interview in Mexico City. The season when gas demand typically peaks is fast approaching, and Mexico is still dealing with setbacks in getting ...

Bloomberg If there’s one thing that became clear during the White House’s “Energy Week,” it’s that South Korea is really, really into US natural gas. In less than 24 hours, South Korea’s energy companies had announced four partnerships with US companies to explore opportunities in the US natural gas business. Korea Gas Corp., the state-owned gas supplier, said it’ll look ...