June, 2019

• 24 June

  Delta buys stake in Korean Air in boost to family owners

  

  Bloomberg Delta Air Lines Inc bought a stake in the parent of its joint-venture partner Korean Air Lines Co, deepening a push into Asia and bolstering the controlling family in its face-off with activist investors. The Atlanta-based airline acquired 4.3 percent of Hanjin Kal Corp, Korean Air’s largest shareholder, and expects to boost the holding to 10 percent over time, …

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• 23 June

  Tensions in Gulf can only be addressed politically: UAE

  

  Bloomberg The United Arab Emirates called for de-escalation and a political solution to the tensions gripping the Gulf region after US President Donald Trump abruptly called off a plan for airstrikes against Iran. “Tensions in the Gulf can only be addressed politically,” the UAE’s minister of state for foreign affairs, Anwar Gargash, said on Twitter on Sunday. Tensions are boiling …

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• 23 June

  Chinese investments in UAE real estate to surge 70%

  

  DUBAI / Emirates Business Chinese investments in the UAE real estate sector is set to surge in the coming months and will grow over 70 percent during 2019, reinforcing the growth potential on offer in the country, according to Fidu Properties, one of the leading Chinese companies in the UAE property market. Chinese investments have gone up 64 percent between …

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• 23 June

  Gulf spreads may fall as Trump favours Iran sanctions over attack

  

  Bloomberg Investors in Gulf assets breathed a sigh of relief after US President Donald Trump showed restraint against Iran. Calling off airstrikes and opting for additional sanctions on Iran eases the risk of military combat between the Persian nation and its Arab neighbours, and will probably have a positive impact on GCC spreads, according to Arqaam Capital Ltd. “While GCC …

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• 23 June

  Bifacial panels prove a boon for solar sector

  

  Bloomberg The solar industry has a new way of ducking the Trump administration’s tariffs on its imports: two-sided panels. The US Trade Representative said in a notice that it’s granting an exemption to solar duties for bifacial panels, ones that can generate power on both sides. The carve-out is a win for both Asian manufacturers including JinkoSolar Holding Co, LG …

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• 23 June

  Mexico energy companies plan private auctions

  

  Bloomberg After Mexico’s National Energy Control Center cancelled a widely anticipated long-term power auction almost five months ago, the frustration among private companies was palpable. Now, they are taking matters into their own hands — with the help of an upstart energy company formed by some of the power auctions’ original architects. Mexico City-based Bravos Energia is launching new, private …

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• 23 June

  Trans Mountain to start shipments by ’22

  Bloomberg The oil pipeline that Canadian Prime Minister Justin Trudeau’s government approved is slated to start shipping crude as early as 2022 and cost more than C$7.4 billion ($5.6 billion) after legal delays hampered the construction process. The Trans Mountain expansion, which would carry 590,000 more barrels of crude from Alberta’s oil sands to a port in Vancouver, was delayed …

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• 23 June

  Eleven stocks, $14b erased amid debt crisis in India

  

  Bloomberg A year after a rare default in India’s credit market led to its mini-Lehman moment, several shadow banks in the country, its oldest surviving private airline and the parent company of its biggest television broadcaster are still reeling. The fear which erased more than 1 trillion rupees ($14.4 billion) in market capitalisation of the 11 worst-hit firms is refusing …

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• 23 June

  Gulf stocks decline over US-Iran row

  

  Bloomberg Stock markets in the Gulf declined as tension between the US and Iran kept investors on high-alert. President Donald Trump said the US will impose major new sanctions on Iran on Monday, days after he abruptly called off a plan for airstrikes against the Islamic Republic, but gave no additional detail. The United Arab Emirates civil aviation authority ordered …

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• 23 June

  Crypto platform Luno starts African hiring spree

  Bloomberg Naspers Ltd-backed cryptocurrency platform Luno is planning to increase its workforce by almost 60 percent to expand its South African headquarters as Bitcoin once again breaches $10,000. The Bitcoin and Ethereum exchange will hire 150 new employees by the end of the year to boost its software-development team, taking its headcount to more than 400 across seven offices in …

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