June, 2022

• 15 June

  Oil gains as investors weigh tight supply, demand risks

  

    Bloomberg Oil rises as investors weighed a tight supply outlook and the potential responses from consumers and policy makers alike. West Texas Intermediate gained for a second session, trading above $122 a barrel. President Biden will travel to Saudi Arabia next month and will discuss energy production, according to US National Security Counsel Coordinator John Kirby. The meeting will ...

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• 15 June

  Air France-KLM raises $2.4b in rights issue to slash debt

  

    Bloomberg Air France-KLM vowed to expand low-cost and transatlantic flights after raising 2.26 billion euros ($2.4 billion) to repay a chunk of the state aid that helped the carrier survive the Covid-19 crisis. The proceeds of the rights issue launched last month will be used to reimburse about 1.7 billion euros of bonds issued last year and held by ...

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• 15 June

  IndiGo looks close to get delivery of first cargo jet

  

    Bloomberg IndiGo, India’s largest airline, looks close to inducting its first freighter plane as it seeks to capture the boom in air cargo driven by the pandemic. An IndiGo CarGo-branded aircraft was spotted at Seletar Airport in Singapore’s north east. Seletar is a much smaller airport than Changi Airport, serving mainly private jets, a few regional commercial flights and ...

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• 15 June

  Cathay Pacific’s first-half loss to narrow as airline plots recovery

  

    Bloomberg Cathay Pacific Airways Ltd flagged it will post a narrower first-half loss than the previous year on continued strong cargo demand and cost-cutting measures. “Our consolidated losses in the first half of 2022, while substantial, are expected to be lower than the consolidated losses reported in the first half of 2021,” Ronald Lam, the airline’s chief customer and ...

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• 15 June

  Canada to end vaccine rule for air travel

  

    Bloomberg Canada plans to end Covid-19 vaccine mandates for domestic air and rail travel, as well as outbound international travel, CBC News reported, citing people with direct knowledge of the decision. An announcement was expected on Tuesday. The government may reinstate the vaccine requirement if there’s a new variant of the virus, CBC reported. Prime Minister Justin Trudeau’s government ...

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• 15 June

  AirAsia turns to India to fill gap left by China tourists

    Bloomberg With the major tourism market of China still mostly sealed off from the rest of the world, AirAsia, the budget carrier of Capital A Bhd, is turning to India to make up the shortfall. “India is definitely a very, very important market,” AirAsia Malaysia Chief Executive Officer Riad Asmat said on the sidelines of the Aviation Festival Asia ...

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• 15 June

  Louis Vuitton to open Saint-Tropez restaurant for summer

  

    Bloomberg Louis Vuitton is set to open its first restaurant in France, just in time for the summer season. The fashion brand owned by the luxury conglomerate LVMH SE is opening the dining spot, to be called Mory Sacko at Louis Vuitton, in the Riviera town of Saint-Tropez on June 17. The 40-seat spot with outdoor dining will be ...

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• 14 June

  US futures pare gains as European stocks retreat

  

    Bloomberg US equity futures pared gains on Tuesday and a rebound in European stocks proved short-lived, suggesting markets aren’t out of the woods after a rout driven by expectations of sharper Federal Reserve interest-rate hikes to fight inflation. S&P 500 contracts came off session highs to trade around 0.5%, signalling some relief after the plunge that erased $1.3 trillion ...

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• 14 June

  RBI assurance may not ease India bond selloff, says top fund

  

    Bloomberg Indian central bank’s verbal pledge to support a record government-borrowing program hasn’t been backed by actions so far and that may lead to a deeper selloff in the bond market, according to a top fund manager. The RBI “has just started doing a little bit of open-mouth operations in the sense they want the yield curve to behave ...

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• 14 June

  Tenders worth $6 billion awarded in Kuwait in ’21

  

    Kuwait/ WAM The Central Agency for Public Tenders of Kuwait (CAPT) has stated that the agency awarded 235 tenders worth $5.9 billion in 2021. Secretary-General of CAPT Usama Al-Duaij told Kuna that number of awarded tenders has been mounting on an annual basis, however, the total sum of offers reached, in 2020, only 98 ones, worth approx $1 billion, ...

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