December, 2021

• 6 December

  Traders dump Asean stocks on fears omicron will hammer region

  

  Bloomberg Emerging-market traders are taking the once-bitten, twice-shy approach with Southeast Asia and omicron, dumping shares from the region that was most impacted when the delta variant arrived. The MSCI AC Asean Index has fallen about 4% since US Thanksgiving — when omicron first made its presence known in markets — underperforming the near 2% decline in Latin American shares …

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• 6 December

  Ofid extends $80m loan to boost trade in Africa

  

  Vienna / WAM The Opec Fund for International Development (OFID) signed an $80 million loan agreement with the African Export-Import Bank (Afreximbank) to finance international trade directly among corporates or through financial intermediaries. The Opec Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors such as agriculture, …

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• 6 December

  After calling China’s crackdown, Strategic Vision goes big on solar

  

  Bloomberg One of the few funds to predict Beijing’s clampdown on education companies is doubling down on its bets on China’s solar companies. Ken Xu, Hong Kong-based chief investment officer at Strategic Vision Investment Ltd, withdrew from tutoring stocks in March after noting that state-backed media outlets and policy makers were echoing angst among parents about the societal impact of …

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• 6 December

  India’s Jet Airways in talks with Boeing, Airbus for $12b order

  

  Bloomberg The new owners of once-bankrupt Jet Airways India Ltd are in talks with Boeing Co and Airbus SE to purchase at least 100 narrowbody jets for the carrier’s fleet in a bid to revive what used to be the biggest private airline in the South Asian nation before it collapsed under a pile of debt. The winning bidders for …

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• 6 December

  Big airline orders move ahead despite variant

  

  Bloomberg Airlines are moving forward to finalise big commercial aircraft orders despite the newly discovered coronavirus variant and a fresh wave of travel restrictions to contain its spread, Pratt & Whitney’s top sales executive said. “The campaign activity is as high as I’ve seen, maybe ever,” said Rick Deurloo, chief commercial officer of Pratt & Whitney, a unit of Raytheon …

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• 6 December

  United Air to move operations staff to suburb in blow to Chicago

  

  Bloomberg United Airlines Holdings Inc. plans to move the network operations center that coordinates its flights globally to a Chicago suburb next year, slashing headcount at the carrier’s world headquarters at Blackstone Inc’s Willis Tower. The move was announced internally and would affect about 900 employees such as managers and technical support staff, United said. About 400 flight dispatchers could …

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• 6 December

  Mexico’s Interjet sees return to skies in 2022 with Czech planes

  

  Bloomberg The embattled Mexican airline Interjet is planning a return to operations by next year with a new fleet comprised of 10 Airbus SE A320 jets and potentially 10 Czech-made Let L-410 planes. The plan to fly again depends on the company’s ability to navigate a “distressed investing” strategy that will be separated into three tranches, said insolvency specialist Ivan …

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• 6 December

  British Airways, Phillips 66 reach pact on clean jet fuel

  Bloomberg Phillips 66 reached an agreement to supply cleaner aviation fuel to British Airways for several years as the airline seeks to lower its emissions, the companies said in a statement. As part of the deal, so-called sustainable aviation fuel — which is made from renewable feedstocks such as waste vegetable oils — will be produced at scale for the …

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• 6 December

  UK to require pre-arrival Covid tests

  Bloomberg The UK will require all travelers to take a pre-flight Covid-19 test within 48 hours prior to their flight regardless of their vaccine status, a surprise government move that prompted a swift and angry reaction from the airline industry. The measure, which takes effect on December 7, will be temporary and be reviewed as the omicron outbreak develops, Health …

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• 6 December

  Toronto home prices surge 22% with supply vanishing

  Bloomberg Toronto home prices rise to a record as a sharp decline in the number of properties coming up for sale stoked competition among buyers, leaving little prospect market will cool soon. The average price of a home sold in the Toronto region in November was was about $904,000, up 22% from last year. The number of new listings fall …

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