August, 2020

• 9 August

  Emirates ramps up services to Pakistan

  

  Dubai / WAM Emirates has announced it will increase its passenger services to/from Pakistan starting August 10, offering customers enhanced connectivity to over 70 destinations within its current network, via Dubai. The Dubai-based airline is set to ramp up its flight frequency to/from Karachi, Islamabad, Lahore, and Sialkot; and resume passenger services to Peshawar — providing customers worldwide with greater ...

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• 9 August

  World’s biggest power traders flock to Japan’s $136b market

  

  Bloomberg Some of the world’s biggest energy traders are looking to get ahead in Japan’s nascent power market. From Royal Dutch Shell to German utility RWE, companies are hiring, reassigning staff and building relationships with Japanese firms to profit in the $136 billion market. After building markets in Europe and the US, they have their sights on the third-biggest economy, ...

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• 9 August

  Nigeria signs deal over oil exports

  

  Bloomberg Nigeria’s state oil company signed a preliminary agreement to end a dispute with two energy companies over oil exports, signalling a move towards resolving similar disagreements with other oil majors on revenue from several offshore oil fields. The Nigerian National Petroleum Corp said in a statement on Twitter it signed a deal with China’s Cnooc and Lagos-based South Atlantic ...

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• 9 August

  Yes, it’s a depression now

  

  We have been too gentle with reality. It must be clear to almost everyone by now that the sudden and sharp economic downturn that began in late March is something more than a severe recession. That label was, perhaps, justifiable for the 2007-2009 Great Recession, when unemployment reached a peak of 10%. It isn’t now. “This situation is so dire ...

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• 9 August

  Can Adidas survive second wave?

  

  Back in March, Adidas AG Chief Executive Officer Kasper Rorsted likened dealing with the Covid-19 outbreak to a football match. There was a great first half of the game before the virus struck. The half-time break was longer than expected, but play would eventually resume. He showed just how damaging that halt was, but he said the tournament is now ...

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• 9 August

  Trump’s TikTok ban is Big Tech’s problem

  It finally happened. After a month of threatening to do so, President Donald Trump issued executive orders that will ban the popular Chinese-owned social media apps TikTok and WeChat in the US on national security concerns. There are still some unknowns around the language and implementation of the decrees, and there’s a chance they get dialed back later during trade ...

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• 9 August

  Inflation is coming, Big Tech won’t protect you

  Over the past decade, it’s almost been too easy for Americans to manage their wealth. A textbook 60/40 portfolio — in its simplest incarnation, exposure to the S&P 500 Index and Treasury bonds — was an effortless winner. The US boasted the world’s best stock market, and bonds, apart from offering interest income, provided a nice hedge against equity risks. ...

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• 9 August

  Covid-19: Lufthansa steps up measures to cut costs

  

  Bloomberg Deutsche Lufthansa AG warned that compulsory dismissals are likely in Germany amid slow progress in talks with unions, stiffening its tone as it braces for years of reduced demand. Europe’s biggest airline posted an adjusted operating loss of 1.7 billion euros ($2 billion) in the second quarter — its biggest ever — wrapping up a dismal set of results ...

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• 9 August

  Pilot erred in India crash: Aviation watchdog chief

  

  Bloomberg The Air India Express jet that overshot the runway on August 07, killing at least 18 people, had touched down too far along the airstrip, the chief of India’s aviation regulator said amid ongoing investigations. Arun Kumar, director general for civil aviation, told CNN News-18 that the plane landed about 3,000 feet into a 9,000 feet-long runway, causing it ...

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• 9 August

  Korean Air’s quarterly profit defies Covid-19 travel slump

  

  Bloomberg Korean Air Lines provided some rare positive news for the devastated global aviation industry, reporting a quarterly profit after flying planes loaded with products from South Korean technology giants to homebound consumers around the world. The carrier’s operating profit was 148.5 billion won ($125 million) for the April-June period. Cargo sales climbed 95% from a year earlier to 1.23 ...

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