October, 2018

• 10 October

  American Airlines drops to 2-year low on higher fuel-price concerns

  

  Bloomberg American Airlines Group Inc. tumbled to the lowest in more than two years amid doubts over whether recent fare gains will be enough to cover the upward trek of oil prices. The carrier’s average cost of jet fuel rose to as much as $2.33 a gallon in the third quarter, up from an earlier forecast of $2.27 or less, …

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• 10 October

  Ikea plans to expand to a dozen new markets

  

  Bloomberg Ikea plans to expand to about a dozen new markets in the coming years, including branching into South America, as the Swedish furniture giant aims to reach a total of 3 billion potential customers by 2025. The company will in the coming years open stores in Chile, Colombia and Peru through a new Ikea franchisee called Falabella as part …

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• 10 October

  Boeing’s 737 jetliner deliveries rebound

  

  Bloomberg Boeing Co delivered 61 of its highly profitable 737 jetliners in September, up from 48 a month earlier, taking a step towards recovery from supply shortages that disrupted production at a Seattle-area factory. The increase shows progress in Boeing’s effort to smooth manufacturing problems. The planemaker brought in 600 mechanics to help tackle out-of-sequence work that left dozens of …

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• 10 October

  Seeing more airline failures, TUI beefs up jetliner fleet

  Bloomberg TUI AG, the world’s biggest holiday company, plans to renew its jetliner fleet as rising oil prices begin to push weaker rivals to the wall. TUI is likely to turn options for close to 50 Boeing Co. 737 Max aircraft into firm purchases, giving it a total of 120 orders for the upgraded model, and is switching to more …

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• 9 October

  ERC intensifies provision of aid to Yemen

  HODEIDAH / WAM The Emirates Red Crescent (ERC) intensified its humanitarian, relief and development efforts in the liberated governorates and cities of Yemen last week, to answer the needs of the Yemeni people, in light of their difficult humanitarian conditions. The ERC is also working to make the Yemeni youth happy and achieving their dreams of family stability, through its …

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• 9 October

  IEA urges Opec, major producers to lift output

  

  Bloomberg The International Energy Agency (IEA) made a direct appeal to OPEC and other major oil producers to boost output, warning that high prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA Executive Director Fatih Birol said. “Expensive energy is back at a bad time, …

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• 9 October

  IMF cuts forecast for global growth as trade war takes toll

  

  Bloomberg The International Monetary Fund (IMF) said the world economy is plateauing as the lender cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets. On the eve of its annual meetings in Bali, Indonesia, the fund on Tuesday projected a global expansion of 3.7 percent this year …

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• 9 October

  Sharjah trade mission in Lisbon to woo investors from Lisbon

  

  LISBON / WAM An official trade mission from the Sharjah Chamber of Commerce and Industry (SCCI) showcased investment opportunities, as well as various opportunities available in the emirate’s economic sectors in Lisbon, Portugal. The Sharjah trade delegation, headed by Abdallah Sultan Al Owais, SCCI Chairman, aimed to enhance economic cooperation and mutual investment between Sharjah and Portugal, under the framework …

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• 9 October

  World to install over one trillion watts of clean energy by 2023

  

  Bloomberg The world could install more than a trillion watts of renewable power over the next five years, more than the entire current generation capacity of the European Union. The International Energy Agency’s (IEA) latest annual report on renewables forecasts as much as an extra 1.3 terawatts of clean energy will be installed by 2023 under one scenario. Even in …

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• 9 October

  Global growth at risk from $100 oil next year: BofAML

  

  Bloomberg If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year — but this hinges crucially on the dollar, according to Bank of America Merrill Lynch (BofAML). Sanctions on Iran, shale bottlenecks, Venezuelan turmoil and increased demand pose an upside risk to prices, the bank said. Higher prices would slow …

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