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Bloomberg Greece plans to pump as much as 1 billion euros ($1.1 billion) into its banks over the next five years by subsidizing a part of households’ mortgage repayments. Under the plan, some households unable to repay their home loans will restructure their debts with the banks, with the state then paying part of the remaining monthly installments, according to …
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February, 2019
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17 February
Air France-KLM tensions rise over fate of Dutch unit’s CEO
Bloomberg Just as Air France-KLM looks set to turn the page on last year’s crippling labour strife, the carrier is facing a revolt by its Dutch arm. A tussle over the reappointment of Pieter Elbers, who leads the KLM unit, sparked a noisy demonstration of support for the executive from staffers, managers and even Dutch officials, including a petition signed …
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17 February
Brazil airlines rise on back of troubles at Avianca Brasil
Bloomberg The sadness of some is the happiness of others. The Brazilian saying seems to apply perfectly to the current scenario for airlines that operate in the South American country. Oceanair Linhas Aereas Ltda, which operates under the Avianca Brasil brand, filed for judicial recovery in December, and Gol Linhas Aereas Inteligentes SA is the best-performing stock in the Ibovespa …
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17 February
Vietnam’s aviation safety gets approval for US flight
Bloomberg The US Federal Aviation Administration gave its approval to Vietnam’s air-safety system, which will allow the Southeast Asian country’s airlines to fly to the US as it seeks to bolster tourism. Vietnam’s national carrier is planning flights to California. The FAA gave Vietnam a Category 1 rating, meaning US reviewers found that the country adheres to United Nations standards …
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17 February
Shock drop in US retail sales draws skepticism over data
Bloomberg So much for a merry Christmas. That is, if you trust the numbers. Commerce Department figures show US retail sales fell 1.2 percent in December from the previous month, the most since 2009, rather than the slight increase economists had forecast. Even more confusing: There was a pullback in a measure based largely on internet sales, which had been …
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16 February
ECI to secure $3 billion in UAE non-oil exports, re-exports
Dubai / WAM Etihad Credit Insurance (ECI), set a strategy and growth plan aligned with the UAE economic agenda, setting a target to support $3 billion in non-oil exports and re-exports. The announcement came during the recent ECI 2019 Kick-Off Meeting at the Jumeirah Emirates Towers Hotel in Dubai. The event highlighted ECI’s goal to support UAE-based companies with over …
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16 February
Oil hits 2019 high as Saudis curb output
Bloomberg Oil rose to the highest level this year as Saudi Arabia curtailed output at its largest offshore field and amid signals of a thaw in US-China trade tensions. Futures in New York advanced 2.2%. Saudi Arabia was said to trim supply from its giant Safaniyah field to repair a damaged power cable. Chinese President Xi Jinping said US-China trade …
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16 February
ERC sends aid convoy to Abyan
ABYAN/ wam The Emirates Red Crescent (ERC), sent a relief aid convoy to the population in Ahwar District in Abyan Governorate in a continuation to the UAE’s humanitarian aid provided to the liberated areas in Yemen.
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16 February
Shell eyes limit to ‘how clean oil output can be’ in climate push
Bloomberg There’s only so much you can do to make oil and gas production cleaner. That was a key realization behind Royal Dutch Shell Plc’s decision to set targets to reduce greenhouse-gas emissions not just from its own operations, but also from the products it sells which are consumed by others. So far, it’s the only oil major to do …
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16 February
Redefining the commuter car
Bloomberg It’s all-electric like a Tesla. It’s priced like a Ford Fiesta. It’s one of the oddest-looking vehicles you’ve ever seen — and it may just redefine the commuter car. As General Motors Co. prepares to shut the plant near Toronto that got car-making started in Canada more than a century ago, a new model is taking shape in a …
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