June, 2017

• 4 June

  Malaysia’s RHB Bank, AMMB seek central bank nod for merger talk

  Bloomberg RHB Bank, Malaysia’s fourth-largest lender by assets, and AMMB Holdings are planning to pursue talks to merge, people with knowledge of the matter said. The two Malaysian lenders have submitted an application for central bank approval to start formal negotiations, the people said, asking not to be identified because the information is private. Shares of AMMB have risen 21 ...

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• 4 June

  Airbus to show innovative technologies at Paris show

  

  Emirates Business At the Paris Air Show, which runs from June 19-25, Airbus will showcase its wide range of innovative technologies, products and services, from market-leading commercial and military aircraft to helicopters and space systems. In addition, there will be a new Digital Exhibition zone at the Airbus pavilion (located at the end of Chalet Row A), where traditional mock-ups ...

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• 4 June

  Air freight demand growth remains robust: IATA

  

  Cancun / Emirates Business The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 8.5% in April 2017 compared to the year-earlier period. While this was down from the 13.4% year-on-year growth recorded in March 2017, it is well above the average annual growth rate of 3.5% ...

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• 4 June

  United Airlines to suspend flights to Venezuela

  Bloomberg United Airlines Inc. will suspend flights to Venezuela next month, a move that further cuts off access to the Latin American nation engulfed in violent political protests and economic chaos. The daily service between Houston and Caracas will be canceled because of low demand, United spokesman Charles Hobart said in an email. “Because our Houston-Caracas service is not meeting ...

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• 4 June

  ‘Made in China’ may threaten Boeing and Airbus

  

  Bloomberg November 2015 was a big month for Chinese aviation. That was when the state plane manufacturer known as Comac delivered its first passenger aircraft, a 90-seat jet called the ARJ21. May 2017 may prove bigger still, after Comac completed its first test flight of a larger plane, the C919. The new jet aims to take on Boeing Co. and ...

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• 4 June

  Russia’s Rosneft sees risk of shale neutering OPEC deal

  

  Bloomberg Russia’s most powerful oil boss said the deal between OPEC and its partners to curb output won’t stabilize the crude market over the long term as US shale fills the supply shortfall. “A decrease in production under an agreement between OPEC and non-OPEC could largely be balanced out by an increase in US shale oil production by the middle ...

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• 4 June

  Saudi $5.2 billion maritime project boosts Lamprell

  

  Bloomberg Shares in Lamprell Plc gained the most in more than two years after the builder of oil rigs partnered with Saudi Aramco to develop the biggest maritime yard in the region. Saudi Arabian Oil Co., also known as Aramco, established a joint venture with the kingdom’s national shipping company Bahri, South Korea’s Hyundai Heavy Industries Co. Ltd. and Lamprell ...

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• 4 June

  Oil posts biggest weekly loss in a month as rebalancing drags

  

  Bloomberg Oil posted its biggest weekly drop in four weeks amid questions over the effectiveness of OPEC’s deal to help rebalance the market as US production continues to grow. Futures slid 1.5 percent in New York. Russia’s most powerful oil boss said output curbs by OPEC and its partners probably won’t succeed over the long term as US shale fills ...

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• 4 June

  Saudi minister says more oil output cuts possible

  MOSCOW / Reuters Saudi Arabia Energy Minister Khalid al-Falih said further oil output cuts could be needed in the future but that OPEC and other leading producers would assess the market situation in July, Russia’s TASS news agency reported. The Organization of the Petroleum Exporting Countries (OPEC) and other nations led by Russia agreed last week to extend a deal ...

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• 4 June

  Gas sellers try new tricks to lure pickier buyers

  

  Bloomberg One of the stodgier corners of the energy industry is getting more relaxed. Liquefied natural gas sellers, which once did business almost entirely on long-term, oil-linked contracts, are offering shorter deals, more pricing options, unrestricted shipping terms and in some cases are even willing to invest in the infrastructure their buyers need to import the super-chilled fuel. “In the ...

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