March, 2018

• 24 March

  Kenya Airways plans to add 20 new routes in five years

  

  Bloomberg Kenya Airways Plc plans to add as many as 20 new destinations in Africa, Europe and Asia in the next five years, Chief Executive Officer Sebastian Mikosz said. The route-network expansion will help sub-Saharan Africa’s third-biggest carrier, in the midst of a turnaround programme after a record loss in 2016, return to profit. The airline reported a 6.1 billion-shilling …

  Read More »
• 24 March

  Airbus loses contest with Boeing to sell A330neo to American

  

  Bloomberg Airbus SE has lost a contest with Boeing Co. to sell wide-body jets to American Airlines Group Inc., dealing a blow to the European planemaker’s efforts to boost A330neo orders in the world’s biggest aviation market. Talks with American over the re-engined model have ended, Airbus said in response to questions from Bloomberg, saying it was unwilling to match …

  Read More »
• 24 March

  Ryanair to revive plans for Ukraine flights, says PM

  

  Bloomberg Ryanair Holdings Plc has revived plans to extend its network further east than ever before with flights from Ukraine, according to the European country’s premier. A deal formalising the expansion should be signed later this week, Ukrainian Prime Minister Volodymyr Hroisman said in a statement on the government’s official website. Europe’s biggest discount airline had previously aimed to serve …

  Read More »
• 24 March

  US airlines drop as Southwest forecast spurs fare anxiety

  Bloomberg US airlines tumbled after Southwest Airlines Co. cut its forecast for an industry revenue benchmark, citing stepped-up competition and a surprise drop in travel demand. The weaker outlook is spurring investor fears that United Continental Holdings Inc.’s expansion plan will rekindle fare wars that have plagued the industry off and on since 2015. When the supply of seats outstrips …

  Read More »
• 24 March

  Amazon squeezes suppliers to curb losses in price wars

  

  Bloomberg Amazon.com Inc., locked in a margin-crushing price war, is offloading costs onto suppliers and limiting the number of single, low-priced items shoppers can purchase in an effort to offset rising shipping costs. In a marked shift in strategy, the e-commerce giant is raising transportation fees for suppliers of beverages, diapers and other heavy, bulky products that are expensive to …

  Read More »
• 21 March

  Petrofac wins India contract

  LONDON / WAM UAE-based Petrofac, a leading service provider to the oil and gas production and processing industry, on Wednesday announced that it has been awarded a contract by Hindustan Petroleum Corporation Limited, HPCL, for its Sulphur Recovery Unit (SRU) Block Package for the Visakh Refinery Modernisation Project at Visakhapatnam in the Indian state of Andhra Pradesh. The lump-sum EPC …

  Read More »
• 21 March

  OPEC deal compliance hits record in Feb

  

  LONDON / Reuters Compliance with a global deal to cut oil supply hit a new high in February, a joint OPEC and non-OPEC committee estimated, suggesting a rise in the price of crude has not weakened commitment. Producers in the pact achieved 138 percent of pledged output reductions last month, OPEC said in a statement, a record since the deal …

  Read More »
• 21 March

  Stocks fluctuate, dollar drops ahead of Fed’s policy meeting

  

  Bloomberg US stocks swung between gains and losses, the dollar weakened and Treasuries steadied as traders await the Federal Reserve’s first policy decision since Jerome Powell took the helm. The S&P 500 Index fluctuated, while the Dow Jones Industrial Average and Nasdaq Composite Index edged lower. Leisure companies and banks were among the biggest losers in the Stoxx Europe 600 …

  Read More »
• 21 March

  Blue-chips lift Saudi, Aldar, Emaar climb

  

  Reuters Saudi Arabia’s stock market rose on Wednesday, lifted by its expected inclusion in the secondary FTSE emerging market index, while United Arab Emirates’ markets were boosted by its top two property companies. The Saudi index gained 0.5 percent to close at 7,762 points, backed by leading stocks that investors expect to attract foreign funds if the FTSE upgrade is …

  Read More »
• 21 March

  New shipping fuel regulations set to bring gains for top oil refiners

  

  Bloomberg Ready the cash-printing machines — the world’s most sophisticated refineries are about to enjoy great times thanks to what might seem like a minor tweak in rules for the type of fuel ships consume. From 2020, vessels must buy fuel with less sulfur, or alternatively be fitted with equipment to curb emissions of the pollutant. One thing is clear: …

  Read More »