July, 2017

• 8 July

  RBS exits Chinese securities venture in $52 million sale

  

  Bloomberg Royal Bank of Scotland Group (RBS) will sell its stake in a Chinese securities joint venture to Guolian Securities Co. for 354 million yuan ($52 million), becoming the latest foreign bank to leave its mainland partnership. The Edinburgh-based bank bought the 33.3 percent of Hua Ying Securities Co. for 266.4 million yuan and will sell it at 1.2 times ...

  Read More »
• 8 July

  Cerberus weighs Commerzbank stake in bank push

  Bloomberg Cerberus Capital Management is weighing a plan to purchase a stake in Commerzbank AG as the U.S. buyout firm seeks to add investments in European lenders, according to people familiar with the matter. Cerberus is considering building a minority stake by buying shares in the German bank on the market, the people said, asking not to be identified because ...

  Read More »
• 8 July

  Bank of Canada witnesses strongest business outlook

  

  Bloomberg Canadian business leaders reported the strongest outlook since 2011 including record hiring plans, according to a central bank survey. The overall Business Outlook Survey Indicator — an aggregate gauge — measured 2.81, up from 0.73 in the last report, according to the Bank of Canada’s quarterly Business Outlook Survey published in Ottawa. Results for nearly all survey questions were ...

  Read More »
• 8 July

  Buying Air India will bolster overseas network: IndiGo

  

  Bloomberg IndiGo, the only carrier that has made a pitch to purchase Air India Ltd., sought to allay investor concerns about the budget operator buying the unprofitable national carrier, saying a deal would help speed up its plans for low-cost, long-distance flights. Spelling out the rationale for their interest in the highly indebted airline in a conference call with analysts, ...

  Read More »
• 8 July

  Airbus A350-1000 completes hot weather test at Al Ain airport

  

  Al Ain / emirates business The A350-1000 test aircraft, MSN065, successfully completed the hot weather tests at the Al Ain International airport. The tests which took place from July 4-7, involved the aircraft undergo extreme weather conditions at temperatures above 40 degrees Celsius. The objective of the tests is to check systems behaviour with a focus on the cabin, including ...

  Read More »
• 8 July

  Cathay Pacific to buy out partner DHL’s 40% stake in cargo unit

  

  Bloomberg Cathay Pacific Airways Ltd. agreed to buy out the stake owned by partner DHL International GmbH in a cargo venture as the premium Asian carrier revamps its operations as part of a three-year transformation program. Under the non-binding preliminary agreement, Cathay will purchase the 40 percent held by the German company in AHK Air Hong Kong Ltd., making it ...

  Read More »
• 8 July

  Debt-laden SAA gets funds to avoid default

  

  Bloomberg South Africa’s National Treasury has transferred funds to South African Airways (SAA) to help the state-owned airline avoid default on its debt to Standard Chartered Plc., according to a statement from the department on Saturday. “Government has decided to transfer funds from the National Revenue Fund to South African Airways to allow the airline to pay back its debt ...

  Read More »
• 8 July

  Europe guzzles Asian jet fuel as travel season heats up

  

  Bloomberg Asian shipments of jet fuel to Europe are soaring this month as summer holiday travel picks up and freight costs decline. Cargoes of petroleum products bound for Europe from South Korea, Singapore and China are set to rise to at least 450,000 tons in July, vessel-tracking data show. That’s the highest level since Bloomberg started tracking the shipments in ...

  Read More »
• 5 July

  Ministers: Qatari response ‘negative’

  

  CAIRO / Reuters Foreign ministers from the four Arab states leading the boycott of Qatar expressed disappointment on Wednesday with the tiny Gulf nation’s “negative” response to their demands, but did not announce new sanctions against Doha. “The response the four states got was overall negative and lacked any content. We find it did not provide a basis for Qatar ...

  Read More »
• 5 July

  DEWA’s app to help spur adoption of solar energy

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) has launched a web application to help customers easily decide on the installation of photovoltaic (PV) panels on their rooftops to generate electricity from solar power. Introduced under the ‘Shams Dubai’ initiative, the application, dubbed ‘Shams Dubai Calculator’, will provide detailed comparisons and additional information to help consumers conveniently and smoothly ...

  Read More »