January, 2021

• 12 January

  Half of South Africa’s oil refining to shut until 2022

  

  Bloomberg South African plants owned by Glencore Plc and Petroliam Nasional Bhd that make up 43% of the nation’s oil-refining capacity are expected to stay shut until at least 2022, according to energy consultant Citac. Astron Energy Ltd, a unit of Glencore, has yet to restart the 100,000 barrel-a-day Cape Town refinery after a deadly explosion and fire in July. …

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• 12 January

  Indonesia pilot had decades of flying experience before crash

  

  Bloomberg The retrieval of the black boxes from the wreckage of Indonesia’s Sriwijaya Air Flight 182 will shed light on why the Boeing Co 737-500 jet, a 27-year workhorse of the skies, plunged into the Java Sea just minutes after take off. Until that time, there are questions over what caused the tragedy. Human error, bad weather and equipment malfunction …

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• 12 January

  Singapore Air mulls debut dollar bonds

  

  Bloomberg Singapore Airlines Ltd is considering its first-ever offering of dollar bonds, as it tries to bolster cash amid the pandemic. The city-state’s flag carrier is holding a series of fixed-income investor calls in Asia and Europe from Monday for the potential debt sale, according to a person familiar with the matter. The pandemic has devastated the global travel industry, …

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• 12 January

  Signature reaches $4.6b GIP deal, keeps its options open

  

  Bloomberg The pursuit of Signature Aviation Plc turned into a three-way contest, with Global Infrastructure Partners (GIP) rejoining the battle for the world’s largest operator of private-jet bases after an earlier bid was rejected. Signature Aviation agreed on Monday to a $4.63 billion buyout by GIP, while leaving the door open for higher offers. Investors will receive $5.50 per share …

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• 12 January

  Madrid airport reopens partially after Filomena

  Bloomberg Madrid’s international airport was ready to resume outbound operation after heavy snowfall covered the Spanish capital and much of the rest of the country prompting its closing, Transport Minister Jose Luis Abalos said. A full reopening is going to be “gradual” as airlines cancelled almost all their flights and are now reorganising their schedule, he said. Spain’s biggest hub …

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• 12 January

  Globe-trotters pledge to fly less after Covid to help climate

  

  Bloomberg More than two-fifths of the global population would be willing to fly less even after pandemic restrictions ease, according to a survey that shows a growing belief that individual actions impact the climate. The poll of more than 30,000 people published on Monday by the European Investment Bank (EIB) shows 72% of Europeans and Americans and 84% of Chinese …

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• 12 January

  M&S warns of ‘tariffs’ in Irish business

  Bloomberg Marks & Spencer (M&S) Group warned that sales will suffer from the UK’s new lockdown and as Brexit complicates doing business in countries such as Ireland. Fiscal third quarter like-for-like sales fell by 7.6%, as weaker clothing and homewares revenue offset a stronger performance in food. The company said products exported to countries such as Ireland are facing red …

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• 11 January

  China telcos rally as mainland funds buy record HK stocks

  

  Bloomberg Having slumped under the weight of a US executive order, China’s three major telecommunications companies are on the rebound in Hong Kong — supported by a record inflow of mainland cash. Mainland traders bought a record HK$19.5 billion ($2.5 billion) of Hong Kong stocks through trading links on Monday, according to data compiled by Bloomberg. China Mobile Ltd. led …

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• 11 January

  India stocks head for new highs on vaccine, earnings prospects

  

  Bloomberg India stocks advanced towards new peaks as sentiment was boosted by a positive start to the quarterly earnings season and the commencement of vaccinations in the nation this week. The S&P BSE Sensex climbed 0.5% to 49,012.73 as of 10:21 am in Mumbai, while the NSE Nifty 50 Index advanced 0.4%. Both gauges, heading toward fresh record highs, were …

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• 11 January

  Dollar advances; US futures, Asia stocks dip

  Bloomberg The dollar rises on Monday and most Asian stocks slipped along with US equity futures as traders weighed the implications of higher Treasury yields amid President-elect Joe Biden’s push for huge fiscal aid. The dollar climbed a third day against major peers. A gauge of Asia-Pacific shares dipped, South Korea erased an advance of as much as 3.6%. S&P …

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