November, 2018

• 13 November

  India’s Tata vets Jet Airways books for potential purchase

  

  Bloomberg Tata Group is conducting due diligence on Jet Airways India Ltd., as the conglomerate looks to expand its footprint in the country’s growing air travel sector by potentially buying a stake in the cash-strapped carrier, according to people familiar with the matter. The talks are still in their early stages and there’s no certainty they would result in a ...

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• 13 November

  Cathay says sophisticated data hack lasted months

  

  Bloomberg Cathay Pacific Airways Ltd., which is under fire for the world’s biggest airline data breach, said the sophisticated attacks lasted months as it took steps to shield its exposed computer network. The attacks were most intense March through May and continued, Asia’s biggest airline said in a written submission to Hong Kong’s legislature before a panel hearing this week. ...

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• 13 November

  Singapore Airlines’ Q2 profit tumbles 81% as fuel costs sting

  

  Bloomberg Singapore Airlines Ltd. reported an 81 percent plunge in second-quarter profit as higher fuel costs weighed on earnings. Net income for the three months through September fell to S$56.4 million ($41 million) from S$293.3 million a year earlier. Sales rose 5.6 percent to S$4.06 billion. The premium Asian carrier joins others such as Deutsche Lufthansa AG and Air China ...

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• 13 November

  ‘Traders’ gain as Zurich airport stock drops

  Bloomberg Options traders who bet against Zurich airport have booked a 10,000 percent windfall as proposed modifications to aviation charges send shares of the hub tumbling. Flughafen Zurich AG, as the airport company is known, dropped the most since 2003 after saying measures unveiled by the national regulator would reduce its aviation revenue by $148 million or 25 percent. The ...

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• 13 November

  Premier Foods CEO to step down after battle with activists

  

  Bloomberg Premier Foods Plc’s chief executive officer will step down as the maker of Bisto gravy and Mr. Kipling snacks weighs asset sales following pressure from activist hedge fund Oasis Management Co. CEO Gavin Darby will leave on January 31, the company said on Tuesday in a statement. Premier Foods also said it is in discussions with potential buyers of ...

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• 12 November

  Aldar awards $91mn contract for Alghadeer

  

  ABU DHABI / WAM Aldar Properties on Monday announced appointment of Al Rakha Contracting and General Transport LLC as the main contractor for infrastructure buildings and early works package for the first neighbourhood in the second phase of Alghadeer — an AED10 billion mega development, situated close to the border of Abu Dhabi and Dubai. The AED335 million ($91.2 million) ...

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• 12 November

  Eni sells Mubadala 20% stake in Egypt Nour field

  

  ABU DHABI / WAM Mubadala Petroleum announced that it has agreed with Eni to purchase a 20 percent participating interest from Eni’s share in the Nour North Sinai Offshore Area ‘Nour’ concession, an offshore exploration block in Egypt. Eni is the operator of the concession through its subsidiary (IEOC). In the concession, which is in participation with Egyptian Natural Gas ...

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• 12 November

  DP World marks $3.3bn listings on Nasdaq Dubai

  

  DUBAI / WAM Sultan Ahmed bin Sulayem, Group Chairman and CEO of global trade enabler DP World, rang the market-opening bell on Monday to celebrate the multi-currency listing on Nasdaq Dubai of four debt listings. The four listings together amount to a value of about $3.3 billion. The listings comprise a 10-year $1 billion and three conventional bonds of 30 ...

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• 12 November

  Adnoc, Aramco explore gas, LNG tie-ups

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) signed, on Monday, a framework agreement with Saudi Aramco, to explore potential opportunities for collaboration in the natural gas and liquefied natural gas (LNG) sectors. The cooperation brings together two of the world’s leading energy producers from the Arabian Gulf to work together in an area of strategic importance ...

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• 12 November

  UAE, Iraq review bilateral ties, discuss regional developments

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Barham Ahmed Salih of Iraq discussed bilateral relations between the UAE and Iraq and means of developing them across various sectors. During the meeting, held at the Presidential Palace in Abu Dhabi, ...

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