December, 2018

• 16 December

  Emirates unveils new Real Madrid A380 decal

  

  DUBAI / Emirates Business Emirates, the world’s largest international airline and a main sponsor of Spanish football club, Real Madrid, on Sunday unveiled a new decal featuring action images of some of the club’s top players on one of its A380 aircraft. The new decal was created to mark the occasion of Real Madrid’s charter flight on an Emirates A380 ...

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• 16 December

  Dubai adds Spanish cruise line to its home porting roster

  

  Dubai / Emirates Business Dubai Tourism alongside its public and private sector partners welcomed cruise ship Horizon into Dubai, marking the debut of Pullmantur Cruise Lines in the region. To commemorate the occasion, a traditional ‘Plaques and Keys Exchange’ ceremony was hosted on board in the presence of the President and CEO of Pullmantur Cruises and the ship’s captain, as ...

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• 16 December

  Mexico allocates $23bn for Pemex to boost oil output

  

  Bloomberg Mexican President Andres Manuel Lopez Obrador is boosting Petroleos Mexicanos’ budget to 464.6 billion pesos ($23 billion) next year to reverse flagging oil production and increase domestic fuel output. The proposal sent to the lower house of congress would increase Pemex’s total budget, including capital investments, by 14 percent in 2019 compared with 407 billion pesos this year, according ...

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• 16 December

  Dominion wins nod for $7.9bn Scana takeover

  

  Bloomberg Dominion Energy Inc.’s $7.9 billion takeover of a troubled South Carolina utility was approved by state regulators, clearing way for a deal that nearly collapsed over costs from a failed nuclear project. The unanimous vote comes nearly a year after Dominion proposed buying Scana Corp, which spent about $4.9 billion to expand the V.C. Summer nuclear plant then walked ...

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• 16 December

  Occidental CEO wants to keep rigs running

  Bloomberg Occidental Petroleum Corp will look for ways to cut costs other than dropping rigs, in response to the recent slump in oil prices, according to Chief Executive Officer Vicki Hollub. “We’re going to keep our rigs running and we’re going to figure out how to reduce costs in some other way that’s not impacting people who are depending on ...

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• 16 December

  Premier Oil eyes bid for Chevron North Sea assets

  

  Bloomberg Premier Oil Plc is considering a bid for a package of North Sea oil and gas assets put on the block by US oil major Chevron Corp that’s worth about $2 billion, according to people familiar with the matter. The first round of bids is due before the end of the month, the people said, asking not to be ...

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• 16 December

  Xinyi Energy postpones $582mn Hong Kong IPO

  

  Bloomberg Xinyi Energy Holdings Ltd, an owner and operator of solar farms in China, is postponing a Hong Kong initial public offering of as much as $582 million, according to people with knowledge of the matter. The unit of Xinyi Solar Holdings Ltd has no timetable for relaunching the deal, said one of the people, who asked not to be ...

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• 16 December

  China to defuse trade war with reversal on cars

  

  Bloomberg China took more steps to defuse trade tensions with the US, confirming it will remove the retaliatory duty on automobiles imported from America and preparing to restart purchases of American corn. The 25 percent tariff imposed on vehicles as a tit-for-tat measure will be scrapped starting from January 1, the finance ministry said. China also may buy at least ...

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• 16 December

  DLF sees cash crunch toppling peers

  Bloomberg India’s largest listed property developer expects many of its smaller peers to go belly-up as creditors cut financing after a shock default. “Weaker balance sheets are going to fall off, while large listed developers will get though current liquidity crisis,” Saurabh Chawla, outgoing chief financial officer of DLF Ltd., said. Smaller developers have already been struggling amid a slump ...

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• 16 December

  China plans advanced tech plan by 2025, WSJ reports

  

  Bloomberg China plans to give foreign companies greater access to its economy and is drafting a replacement of its plan to dominate advanced technologies by 2025, the Wall Street Journal reported, citing sources briefed on the strategy. Beijing’s changes would come in response to pressure from US President Donald Trump, who launched a tit-for-tat tariff dispute with China this year ...

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