July, 2019

• 29 July

  Boeing’s 737 Max timetable for return remains a guesswork

  

  When will Boeing Co.’s 737 Max return to the skies? It’s anybody’s guess. The aerospace giant said that it was planning for an early fourth-quarter return for the jet, giving investors hope that it had turned the corner on the crisis that’s engulfed the best-selling plane following two fatal crashes. But in the earnings call, executives threw out an alternative ...

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• 29 July

  Facebook balances rise and fall of a shifting empire

  

  One of the toughest corporate strategies is managing a declining asset while investing in promising but nascent ones. It’s such a well-known difficulty that famous books have been written about it. This management balancing act might be even tougher in technology. If a company has a slow-growing or declining tech asset, often it simply dies or gets taken over by ...

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• 29 July

  Ryanair clings to profit outlook amid Max grounding, fare war

  

  Bloomberg Ryanair Holdings Plc clung to its full-year earnings outlook as a fare war and the grounding of Boeing Co’s 737 Max jetliner ate into first-quarter profit at Europe’s biggest discount airline. Margins on ticket sales are shrinking, with a glut of seats hurting prices in Germany and concerns around Brexit weighing on UK demand, Ryanair said. At the same ...

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• 29 July

  Africa’s Amazon to solve ‘location issue’ with Vivo

  

  Bloomberg Jumia Technologies AG’s plan to expand its online retail and trading platform in less developed parts of Africa has long had one significant challenge: A lack of formal addresses for deliveries. That may be about to change due to an agreement with Vivo Energy Plc, the London-listed owner of more than 2,100 Shell and Engen-branded service stations across the ...

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• 29 July

  HNA considers to refinance Swissport debt as sale stalls

  

  Bloomberg HNA Group Co is considering refinancing Swissport International’s debt after talks to sell the airport-cargo handler stalled on valuation, people familiar with the matter said. The Chinese conglomerate is working with advisers to extend Swissport’s debt maturities and ease pressure from creditors, the people said, asking not to be identified because the matter is private. While the refinancing is ...

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• 29 July

  Air France set to order new A220 jets

  Bloomberg Air France is set to approve the purchase of 50 to 70 new Airbus jets, French newspaper Journal du Dimanche (JDD) reports, in a boon for the European aviation giant. Chief Executive Officer Ben Smith, who took the reins of Paris-based Air France-KLM last year, will outline his plans for updating the airline’s fleet when the company announces its ...

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• 29 July

  Nestle gains as Starbucks coffee capsules help sales speed up

  

  Bloomberg Nestle SA shares gained to a record after a new line of Starbucks coffee products helped spur the food company’s fastest quarterly revenue growth in more than three years. Since February, the Swiss company has been selling Starbucks-branded capsules for Nespresso and Dolce Gusto machines, along with roast and ground. That’s boosting growth as the company forecast it may ...

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• 28 July

  DIFC boosts UAE financial sector development, posts growth

  DUBAI / WAM Dubai International Financial Centre (DIFC) has reinforced its contribution to the UAE’s economy and its commitment to driving the future of finance, following strong performance during the first half of 2019. The centre saw sustained growth in the first half of 2019, welcoming more than 250 new companies, and bringing the total number of active registered firms ...

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• 28 July

  Dana Gas share of Kurdistan oil reserves up 10%

  

  SHARJAH / WAM Dana Gas, a regional private sector natural gas company, announced that its share of the proved plus probable (2P) hydrocarbon reserves at Pearl Petroleum Company’s Khor Mor and Chemchemal Fields in the Kurdistan Region of Iraq have increased by 10 percent, following the recent certification of reserves by Gaffney Cline Associates (GCA). The independently audited report, prepared ...

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• 28 July

  Dubai, Singapore fostering clean energy cooperation

  

  SINGAPORE / WAM A high-level delegation headed by Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (Dewa) visited Singapore to promote joint relations and exchange of best global experie- nces and practices in renewable and clean energy and sustainability. During the visit, Al Tayer met with Masagos Zulkifli, Singapore’s Minister of Environment and Water ...

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