March, 2019

• 25 March

  Boeing plans to meet regulators and pilots about 737 Max fixes

  

  Bloomberg Boeing Co plans to meet this week with customers and regulators to explain plans for getting its 737 Max back into service, after the aircraft was grounded following two deadly crashes in less than five months. The planemaker invited more than 200 pilots, technical leaders and regulators for an informational session in Renton, Washington, Boeing said in an emailed …

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• 25 March

  Asiana Airlines liquidity at risk on junk rating warning

  

  Bloomberg Concern about Asiana Airlines’ liquidity is rising after two rating firms warned its debt score may be cut to junk due to a lack of transparency in its 2018 financial report. The South Korean carrier’s BBB- rating, the lowest investment-grade level, was put on negative review by both Korea Investors Service and NICE Investors Service after Asiana got a …

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• 25 March

  Nike’s N American sales miss estimates

  Bloomberg This might sound familiar to Nike Inc investors. The world’s largest sportswear company delivered strong third-quarter earnings, but missed on one important metric: North American sales. The home market dogged Nike for much of 2017 and early 2018, and the latest sales miss sent the shares down as much as 4.3 percent in New York. Third-quarter sales in Nike’s …

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• 25 March

  France-Italy leadership clash dims Ray-Ban maker’s outlook

  

  Bloomberg France and Italy, already tussling over everything from immigration to economics, have added sunglasses to their list of grievances. When Ray-Ban owner Luxottica and French prescription lens-maker Essilor completed a $53 billion merger last October, the deal seemed to clear the way for the Italian company’s 83-year-old founder Leonardo Del Vecchio to hand over management duties and start transferring …

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• 24 March

  Senaat revenues rise 3.5% to AED16.3 billion in 2018

  ABU DHABI / WAM Senaat on Sunday announced that it has achieved steady revenue growth in 2018 to reach AED16.3 billion, a 3.5% increase over the previous year (2017 revenue: AED15.7 billion). More notably, EBITDA increased to more than AED2.5 billion in 2018, a 20% increase compared to 2017, reflecting margin enhancement realised by capitalising on market opportunities and through …

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• 24 March

  Dewa, consortium complete financing for Dubai solar park

  

  Abu Dhabi / WAM Dubai Electricity and Water Authority (Dewa) and the consortium led by Saudi Arabia’s Acwa Power and Silk Road Fund, which is owned by the Chinese Government, annou-nced financial closing of the 950-megawatt fourth phase of Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world. The solar park will produce 5,000 …

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• 24 March

  UAE, Hungary strengthen ties in key sectors

  Abu Dhabi / WAM The UAE and Hungary agreed to strengthen their cooperation in the fields of science, technology and innovation. This came as senior representatives of both countries discussed creating new partners- hips in various sectors that will serve their development in areas of trade, industry, investment, renewable energy, insurance, tour-ism, science, technology, telecom- munications, aviation, education, culture and …

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• 24 March

  Stock bulls getting antsy as Fed’s magic touch no longer enough

  

  Bloomberg Investors are starting to doubt that Jerome Powell’s magic dust can keep working miracles in equities. The US Federal Reserve’s remarkably dovish stance got a polite but restrained nod from markets after trade tensions and profit woes returned to center stage. The S&P 500 Index fell 0.8 percent over the five days while the Stoxx Europe 600 Index posted …

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• 24 March

  Bad year for S Korean won might get worse

  

  Bloomberg South Korea’s won has been the worst-performing Asian currency this year. Data this week may add to its woes. Industrial production and consumer confidence numbers will be in focus as traders seek to gauge whether the recent weakness in exports and inflation is spreading. Signs of slower growth may fuel bets the Bank of Korea will follow the Federal …

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• 24 March

  China’s Sinopec sims to raise spending to 2014 high

  

  Bloomberg Sinopec Corp. aims to raise spending to the highest since 2014, joining state-owned peers in their mission to churn out more domestic oil and gas to ease China’s reliance on imports. Refining profit tumbled in the fourth quarter. Capital expenditure is budgeted at 136.3 billion yuan ($20.3 billion) this year, the world’s largest refiner said in a statement to …

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