January, 2021

• 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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• 11 January

  Ajman real estate deals reach AED8.9b in 2020

  

  AJMAN / WAM The annual real estate report issued by the Department of Land and Real Estate Regulation in Ajman highlighted the stable performance of the emirate’s real estate market, noting that real estate transactions in 2020 totalled AED8.9 billion. Nasser Al Marzouqi, Deputy Director-General of the Department, stressed that Ajman’s real estate sector has maintained its positive performance, due …

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• 10 January

  British power grid system creaks at risk of blackouts

  

  Bloomberg The UK power market is showing signs of strain. For the fourth time this winter National Grid Plc warned that the buffer needed to ensure security of supply and keep the lights on was too small. While the UK has made swift progress on switching from fossil fuels to renewables, this is the downside to cleaning up its energy …

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• 10 January

  South Sudan’s major power provider closes

  Bloomberg South Sudan’s main electricity provider will stop supplying power to the national grid after the government failed to allocate the foreign exchange it needs for operations. The Ezra Construction and Development Group supplies 33 megawatts to the Juba Electric Distribution, for which it is paid in foreign exchange. The government is contractually obliged to allocate Jedco hard currency as …

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