March, 2019

• 18 March

  BOJ’s Kuroda defends 2% inflation target

  

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda said he’s still seeking to deliver 2 percent inflation after the government voiced support for a more flexible approach to the goal, which hasn’t been hit in a decade. Japan must reach 2 percent to achieve a self-sustaining cycle of economic growth, where higher corporate profits and wages fuel consumption and investment, ...

  Read More »
• 18 March

  Boeing had too much sway in vetting jets

  

  Bloomberg FAA employees warned as early as seven years ago that Boeing Co. had too much sway over safety approvals of new aircraft, prompting an investigation by Department of Transportation auditors who confirmed the agency hadn’t done enough to “hold Boeing accountable.” The 2012 investigation also found that discord over Boeing’s treatment had created a “negative work environment” among Federal ...

  Read More »
• 18 March

  Cash-strapped Jet Air delays interest payment on bond

  

  Bloomberg Jet Airways India Ltd. said it will miss a bond interest payment and grounded more planes as lenders work on a plan to restructure the cashed-strapped carrier’s debt. It’s delaying a payment due on March 19 “owing to temporary liquidity constraints,” the company said in an exchange filing. The airline has been forced to ground planes as negotiations between ...

  Read More »
• 18 March

  Southwest, mechanics reach deal in labour row

  

  Bloomberg Southwest Airlines Co. and the union for its mechanics reached an agreement in principle for a new contract, amid an exchange of lawsuits and more than six years after beginning negotiations. The proposed five-year accord would give mechanics $160 million in retroactive pay, an immediate 20 percent raise effective April 1, and 3 percent annual increases each August, according ...

  Read More »
• 18 March

  Lippo slumps after Matahari slashes payout

  Bloomberg PT Matahari Department Store was downgraded by at least four analysts and led declines among Lippo Group stocks after a slump in the retailer’s net income prompted a cut in its dividend payout. Matahari plunged as much as 22 percent in Jakarta trading, the most since December 2011, while PT Lippo Cikarang, PT Lippo Karawaci and PT Siloam International ...

  Read More »
• 17 March

  Digitisation studies to preserve UAE heritage

  DUBAi / WAM Innovation is never a tool to surpass heritage, experts argued during a joint forum held by the Hamdan bin Mohammed Heritage Centre and the Zayed University. In the digital age and at the heart of the 4th Industrial Revolution, heritage is celebrated in the UAE and not forgotten. The Innovation and Heritage Forum aimed to promote research ...

  Read More »
• 17 March

  Adnoc awards onshore block exploration to Japan’s Inpex

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Sunday signed an agreement awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s Inpex Corporation. A wholly-owned Inpex subsidiary, Jodco Exploration Limited, will hold and manage the interest in the concession on behalf of Inpex. The award has been endorsed by Abu Dhabi’s Supreme Petroleum ...

  Read More »
• 17 March

  Initiative to conserve energy, water launched in Abu Dhabi

  ABU DHABI / WAM The Abu Dhabi Department of Energy (DoE) launched the ‘Saving Energy and Water at Home’ initiative. This latest endeavour is one of three sustainable initiatives launched by the department in collaboration with Zay-ed Higher Organisation for Humanitarian Care and Special Needs (ZHO), Abu Dhabi Distribution Company, and Al Ain Distribution Company. The DoE is official partner ...

  Read More »
• 17 March

  Opec needs to stay the course on output cuts: Saudi minister

  

  Bloomberg The Organization of Petroleum Exporting Countries (Opec) and its allies have much work to do to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said. The 24-nation coalition known as Opec+ needs to “stay the course” until June as its job is nowhere near complete in terms ...

  Read More »
• 17 March

  DP World selects Infor GT Nexus to boost supply chain

  

  DUBAI / Emirates Business Global trade enabler DP World has selected the Infor GT Nexus Commerce Network as the technology backbone to power its global supply chain platform initiative. DP World’s objectives for strategic growth require innovative logistics digitalisation capabilities to power a new business initiative that will extend the value of its port and trade facilitation services to customers ...

  Read More »