January, 2020

• 8 January

  UAE airlines urged to assess flightpath risks

  

  ABU DHABI / WAM The General Civil Aviation Authority, GCAA, has called on national air operators to evaluate flightpath risks that may affect aviation operations. In a statement, the GCAA said that it continues to monitor and assess regional developments, and will take all necessary and appropriate measures promptly.

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• 8 January

  UAE to lead discussions on global energy transition

  

  ABU DHABI / WAM The UAE will take a leading role in discussions on the global energy transition at the 10th International Renewable Energy Agency, IRENA, Assembly between 10th and 12th January in Abu Dhabi, at the start of the 13th Abu Dhabi Sustainability Week, ADSW 2020. The UAE delegation to the Assembly will be led by Dr Thani bin ...

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• 8 January

  Boeing 737 plane crashes in Iran after takeoff, killing 176

  

  Bloomberg A Boeing Co 737-800 jetliner bound for Ukraine that crashed after takeoff in Iran, killing everyone on board, was most likely brought down by an engine fire, according to Tehran authorities. Ukraine International Airlines said 167 passengers and nine crew were on the plane, an older version of the 737 that predates Boeing’s grounded Max model, which crashed at ...

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• 8 January

  United takes $90mn ‘charge’ from HK strife

  

  Bloomberg United Airlines Holdings Inc is taking a $90 million non-cash charge in the 2019 fourth quarter to account for a steep drop in demand for flights to Hong Kong, which has been roiled by protests against the Chinese government for more than half a year. Hong Kong International Airport, a major passenger and cargo hub, imposes landing and arrival ...

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• 8 January

  Airlines divert flights from Iraqi, Iranian airspace

  

  Bloomberg Airlines around the world diverted flights from the airspace over Iran, Iraq, and the Persian Gulf after Tehran fired more than a dozen missiles at US forces in the region. In the wake of the attack, carriers ranging from Singapore Airlines Ltd and Qantas Airways Ltd to Air France-KLM and Deutsche Lufthansa AG have said they’re avoiding the area, ...

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• 8 January

  Citic to sell 22% of stake in McDonald’s China for $312m

  Bloomberg Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement on Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the ...

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• 8 January

  Hundreds of cars gutted in Norway airport fire

  

  Bloomberg A major parking-garage fire at an airport on Norway’s west coast destroyed hundreds of cars, grounded air traffic and led to an evacuation of the facilities. The fire, which started on January 07 afternoon and spread to several floors of the garage, was partly contained by 9:30 pm local time, Norwegian news agency NTB reported, citing police. There were ...

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• 8 January

  Creditor accuses Forever 21 of inflating sales projections

  

  Bloomberg Forever 21 Inc can add a lawsuit to the hurdles it’s trying to overcome as it works to woo investors in time to finance its exit from bankruptcy. An Alabama mall owner is suing Forever 21, saying it lost millions of dollars leasing space to the retailer based on misleading sales targets. Forever 21 is accused of misrepresenting sales ...

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• 8 January

  Stocks push higher, bonds slip on Trump comments

  

  Bloomberg US stocks extended gains and Treasuries turned lower after President Donald Trump toned down rhetoric against Iran, suggesting further military force is not needed. The S&P 500 pushed to a fresh intraday record after Trump said Iran appears to be “standing down,” and announced further sanctions on the country. Ten-year Treasury yields rose after tumbling overnight following Iranian airstrikes ...

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• 8 January

  Gundlach doubles down on weak-dollar call after resilient 2019

  

  Bloomberg Billionaire money manager Jeffrey Gundlach said his strongest market conviction is that the still-resilient dollar will weaken. The greenback has largely defied expectations for its demise, with the Bloomberg Dollar Spot Index ending last year less than 1% lower as foreign-exchange volatility dwindled. But the DoubleLine Capital chief executive officer said growing US government and trade deficits, a steepening ...

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