June, 2018

• 4 June

  Emirates to launch daily A380 services to Osaka

  

  Dubai / Emirates Business Emirates, the world’s largest international airline, will introduce regular scheduled commercial Airbus A380 services to Osaka (KIX) in Japan on October 28. The deployment of the double-decker aircraft represents a capacity increase of 38%, and means that travellers will enjoy the comfort of an A380 to and from two Japanese gateways, as the flagship aircraft already ...

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• 4 June

  Total unconvinced by hydrogen cars as France unveils subsidies

  

  Bloomberg France’s biggest energy company expressed skepticism about the economics of hydrogen-powered vehicles as the government unveiled subsidies to promote the gas as way of cutting fossil-fuel consumption and fighting climate change. “We find it difficult to be convinced it has a future in 10 years time,” Total SA Chief Executive Officer Patrick Pouyanne said in an interview with local ...

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• 4 June

  OPEC, allies say more investment needed to ensure oil supply

  

  Bloomberg OPEC and its allies in the global oil output cuts stressed the need to maintain their cooperation to stimulate adequate investments to ensure stable oil supply. Energy ministers from Saudi Arabia, the United Arab Emirates, Kuwait, Algeria and Oman held an unofficial consultative meeting in Kuwait City, the Kuwait News Agency reported, citing a statement from the joint ministerial ...

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• 4 June

  Social media furor hits Thailand’s oil giant

  

  Bloomberg Thailand has joined the global wave of anxiety over climbing energy costs. A social media furor over pump prices erupted in the past week, prompting state-run oil refiner PTT Pcl to defend itself in a Facebook post by Chief Executive Officer Tevin Vongvanich. The country’s military government rolled out fuel subsides for diesel and cooking gas. The developments signal ...

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• 4 June

  US set to announce biofuel policy changes

  Bloomberg The Trump administration is slated to unveil biofuel policy changes, including efforts to tamp down costs for refiners while broadening the market for ethanol, according to people familiar with the action. The announcement follows weeks of negotiations by the Agriculture Department, Environmental Protection Agency and Energy Department to flesh out a tentative deal struck at the White House last ...

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• 4 June

  Toshiba ex-chip unit targets acquisitions enroute an IPO

  

  Bloomberg Toshiba Corp.’s former memory chip business, acquired this month by a group led by Bain Capital, intends to pursue acquisitions as it prepares for an initial public offering in three years. Toshiba Memory Corp. intends to rely on its own cash flow to sustain capital spending at a pace of hundreds of billions of yen a year, Yuji Sugimoto, ...

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• 4 June

  Chinese regulator probes Samsung, Hynix amid ‘chip-price’

  

  Bloomberg Samsung Electronics Co. and SK Hynix Inc., two of the world’s biggest chipmakers, said they’re being investigated by China’s government after their US rival Micron Technology Inc. received a similar visit from the country’s regulators. Investigators from China’s regulatory agency visited Samsung’s Chinese sales offices on May 31, Suwon, South Korea-based company said in an emailed statement. “Samsung is ...

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• 4 June

  Japan finance minister to take pay cut over scandal

  

  Bloomberg Japanese Finance Minister Taro Aso will take a pay cut to take responsibility for officials under him who altered documents on a cut-price land sale to a school with links to Prime Minister Shinzo Abe and his wife Akie. Aso, 77, who is also deputy prime minister, said he wasn’t considering resigning. He’s the highest ranking official to be ...

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• 4 June

  Vanity car plates are Malaysia’s latest revenue tactic

  Bloomberg As Malaysia grapples with its 1 trillion-ringgit ($252 billion) debt burden, it is banking on public support to raise funds via unconventional methods, from donations to a vanity plate auction. The government will offer a series of car number plates bearing the country’s name, ranging from Malaysia 1 to Malaysia 9999, to “cultivate love for the country” while generating ...

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• 4 June

  Macquarie fund bets on revival of shipbuilders in S Korea

  

  Bloomberg Park Hong-sik, a fund manager who correctly predicted the rally of South Korean technology stocks in 2017, has a new bet for this year: Shipbuilders. Four of the world’s five best-performing major shipbuilders this year are from South Korea, including Daewoo Shipbuilding & Marine Engineering Co., which has rallied 94 percent, according to the Bloomberg Intelligence Asia Shipbuilding Valuation ...

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