November, 2018

• 11 November

  Nike sock supplier plans biggest Pakistan private sector IPO

  

  Bloomberg Interloop Ltd., which makes socks for Nike and Adidas, is planning Pakistan’s biggest ever initial public offering by a private firm. The company plans to raise $51 million to expand its sock manufacturing capacity by around 20 percent and enter the denim business, said Chairman and Co-Founder Musadaq Zulqarnain. It will offer 12.5 percent of the business in the ...

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• 11 November

  Horizon Air worker who crashed plane bent on suicide, not terror

  

  Bloomberg The Horizon Air worker who stole an airplane from Seattle’s airport and took it for a ride crashed intentionally to commit suicide, the FBI said in a report that concluded he had no apparent ties to terrorism. Ground service agent Richard Russell, 28, acted alone and no charges are planned in the August incident, the agency said. Investigators found ...

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• 11 November

  Biggest neo customer upgraded 125 planes

  Bloomberg Airbus SE’s latest monthly order tally signalled a big change for India’s IndiGo. The planemaker’s biggest customer for the A320neo is upgrading 125 of its existing orders for the narrowbody’s bigger sister model. IndiGo, one of the few Indian carriers with enough cash to aggressively expand, has been mapping out a way to build a long-haul, low-cost business taking ...

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• 11 November

  Venezuelan airline revives direct flight from Caracas to NY

  Bloomberg Venezuelan airline Aerolineas Estelar Latinoamerica CA will begin to offer a direct flight from Caracas to New York more than two years after the route disappeared from its itineraries. Isolated Venezuelans have few options when flying. Carriers such as Delta Air Lines Inc., Latam Airlines SA and Avianca Holdings SA have scrapped flights to Caracas for security reasons as ...

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• 11 November

  Toshiba loses $806mn buying into America’s natural gas boom

  

  Bloomberg Buy high, sell low and guarantee a loss. It’s not exactly what Toshiba Corp planned when it dipped its toes in liquefied natural gas trading. Yet that’s exactly how it turned out, as the Japanese industrial giant capped off its five-year misadventure in LNG by paying ENN Ecological Holdings Co $806 million to take its interest in a US ...

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• 11 November

  End is near for ‘frack holiday’ as Permian expects 2019 boom

  

  Bloomberg The oil fields of West Texas don’t sit still for long. Take Carrizo Oil & Gas Inc.’s operations, for instance. Just three months after moving drill rigs out of the Permian Basin because of pipeline shortages, the Houston-based explorer is already talking about bringing them back in the middle of next year. That’s one of several signs the end ...

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• 11 November

  Exxon unit bets on $2bn Canada oil sands project

  Bloomberg Almost two years after Exxon Mobil Corp removed billions of barrels of oil-sands crude from its reserves, its Imperial Oil Ltd unit is investing again, saying low Canadian crude prices that scared off the other majors make it a perfect time to build. Imperial Chief Executive Officer Rich Kruger puts the rationale for the C$2.6 billion ($2 billion) Aspen ...

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• 11 November

  A fifth of China’s housing is empty. That’s 50mn homes

  

  Bloomberg Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country. Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to ...

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• 11 November

  ‘Samsung to make 1mn foldable phones’

  

  Bloomberg Samsung Electronics Co. will roll out its foldable phone in the first half of next year and produce at least 1 million of them, Yonhap News reported, citing the company’s smartphone chief DJ Koh. The Suwon, South Korea-based company gave a glimpse of its foldable-screen phone at a developer conference in San Francisco without providing details on its price, ...

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• 11 November

  China touts success of import fair with $58 billion in deals

  Bloomberg Chinese companies signed a combined $57.83 billion worth of intended one-year deals at the country’s first import fair this week, China Central Television reported, as the government seeks to boost demand for foreign goods amid trade tension with the US. Agreements to buy goods and services were signed by firms among the more than 3,600 exhibitors at the China ...

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