July, 2018

• 1 July

  Ethiopian Air to resume Eritrea flights by Sept

  Bloomberg Ethiopian Airlines Enterprise will reintroduce flights to Eritrea by mid-September, two decades after a border conflict upended relations between the Horn of Africa neighbours. “Ethiopian Airlines get ready because soon you’ll start going to Eritrea and coming back,” PM Abiy Ahmed said in Addis Ababa. “Let us not transfer to our children hatred and the holding of grudges.” Ethiopian …

  Read More »
• 1 July

  Fuel, US dollar rally means stormy skies for Brazilian airlines

  

  Bloomberg Fuel prices are up, the US dollar is rallying and that means stormy skies for Brazilian airlines. Gol Linhas Aereas Inteligentes SA is leading Brazil’s Ibovespa index losses month-to-date, with a 21 percent drop so far. The company is also heading for its biggest quarterly drop since its initial public offering in 2004. Gol and Azul SA are down …

  Read More »

June, 2018

• 30 June

  DGCX posts record H1 results, volumes up 44%

  

  DUBAI / WAM Dubai Gold and Commodities Exchange (DGCX) recorded its best H1 ever in its 13-year history, trading over 11,300,000 contracts so far in 2018, up 44 percent year-on-year (y-o-y). Traded value for the first six months of 2018 breached $250 billion for the first time too. The exchange’s record-breaking performance was sealed following a robust month of trading …

  Read More »
• 30 June

  Big oil touts gas as fossil fuel answer to global warming

  

  Bloomberg To reduce emissions and provide affordable electricity, the world needs to burn more fossil fuels, not less. That’s the message being delivered by the world’s biggest energy companies at the World Gas Conference in Washington, where they championed natural gas as the fuel of the future, rather than one that simply bridges the gap towards renewables. The world is …

  Read More »
• 30 June

  India hunting for shorter LNG deals

  

  Bloomberg The good news for global natural gas exporters is that India’s largest utility is hunting for new supplies to import. The bad: It’s seeking shorter deals than have been traditional in the past. India now consumes almost 22 million metric tons a year of liquefied natural gas, but that demand could double within just four to five years, according …

  Read More »
• 30 June

  World’s one-time biggest solar player delisted from NYSE

  Bloomberg Yingli Green Energy Holding Co., once the world’s biggest solar-panel manufacturer, has been delisted from the New York Stock Exchange as its value has plummeted. Trading was suspended after the exchange told Yingli it failed to maintain an average market capitalisation of at least $50 million for 30 consecutive trading days, the Baoding, China-based company said in a statement. …

  Read More »
• 30 June

  Crude posts biggest weekly gain in over two months

  

  Bloomberg Oil posted the biggest weekly rise in more than two months as shrinking stockpiles and supply disruptions from Canada to Libya compounded the growing isolation of OPEC’s third-largest oil producer. Futures advanced 8.1 percent this week in New York, above London-traded Brent crude’s gain of 5.1 percent. The world’s two most important oil benchmarks are diverging as Saudi Arabia’s …

  Read More »
• 30 June

  Hong Kong to charge additional rates on unsold ‘homes’

  

  Bloomberg Hong Kong will charge additional rates on unsold new apartments in a bid to limit hoarding by developers and cool a red-hot property market. Apartments left vacant for more than six months will be charged a 200 percent rate of the rental value, or equivalent to about 5 percent of the unit’s price, according to Chief Executive Carrie Lam, …

  Read More »
• 30 June

  Nike thwarts Adidas threat in US with shares hitting record

  

  Bloomberg After several quarters on the bench, Nike Inc. has finally healed the damage inflicted by Adidas AG. Nike increased sales in North America for the first time in a year, after its smaller European rival had been outmaneuvering the sneaker giant on its home turf. Nike’s improved performance, sparked by new products and a smartphone shopping app, unleashed a …

  Read More »
• 30 June

  Bali airport reopens after shutdown due to volcanic eruption

  

  Bloomberg Indonesia’s Bali airport resumed services after a halt caused by a fresh eruption at the Mount Agung that sent volcanic ashes several miles high into the sky above the popular tourist island. The airport opened at 2.30 pm local time on June 29, according to its twitter feed. The shutdown, the second in seven months, led to cancellation of …

  Read More »