April, 2017

• 16 April

  Cebu Pacific offers lowest Dubai-Manila all-in fares

  

    Dubai / Emirates Business The Philippines’ leading airline, Cebu Pacific, offers a special all-in seat sale for its flights from Dubai to the Philippines. For as low as AED149 all inclusive, travelers from Dubai can fly non-stop to Manila from September 1 to March 31, 2018. The sale period runs from April 16 to April 22, or until seats ...

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• 16 April

  JetBlue founder backs overbooking

  

    Bloomberg Overbooking is a necessity for the airline industry, according to Azul SA Chief Executive Officer and JetBlue Airways Corp. founder David Neeleman. “There are a lot of no-shows,” Neeleman said at the New York Stock Exchange, shortly after Azul went public. Shares closed up 7.2 percent from their offering price in U.S. trading. “What would hurt the airlines ...

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• 16 April

  Spirit Airlines to cut back on Cuba flights

    FORT LAUDERDALE / AP Low-cost Spirit Airlines is the latest carrier to cut flights to Cuba. The Miramar-based airline began serving Havana on December 1 with twice-daily flights from Fort Lauderdale-Hollywood International Airport. But Spirit President and CEO Bob Fornaro said that “the costs of serving Havana continue to outweigh the demand for service.” The airline will reduce its ...

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• 16 April

  Electric grid study ordered by US energy chief to boost coal

  

    Bloomberg US Energy Secretary Rick Perry is ordering a study of the US electric grid, with an eye to examining whether policies that favor wind and solar energy are accelerating the retirement of coal and nuclear plants critical to ensuring steady, reliable power supplies. The 60-day review, which Perry set in motion on Friday, comes as regulators increasingly wonder ...

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• 16 April

  GE Oil & Gas, GPIC sign pact on Bahrain plant

  

    BAHRAIN / EMIRATE BUSINESS GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage agreement with Gulf Petrochemical Industries Company (GPIC), to drive the operational excellence of GPIC’s plant in Bahrain. The partnership will strengthen the competency of GPIC to supply products including ammonia and methanol that drive the growth of downstream industries and contribute to Bahrain’s national ...

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• 16 April

  Billionaire bets on old-school energy in $3bn Conoco deal

  

    Bloomberg With a $3 billion purchase from ConocoPhillips, billionaire oilman Jeffrey Hildebrand is once again trying to succeed in a corner of the oil and gas world others are leaving behind. Hildebrand’s Hilcorp Energy Co. agreed to buy the fields in the San Juan Basin, taking on holdings in the southwestern US that Conoco sees as less appealing given ...

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• 16 April

  China’s $1.4trn debt wall forcing issuance rise

  

    Bloomberg China’s bond issuers, faced with 9.7 trillion yuan ($1.4 trillion) of maturing debt this year, are stepping on the gas. Companies and governments sold 1.3 trillion yuan of onshore notes in March, about as much as in the first two months of the year combined, according to data compiled by Bloomberg that excludes certificates of deposit. Fitch Ratings ...

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• 16 April

  Malaysia mulls tougher enforcement of foreign insurer ownership cap

  

    Bloomberg Malaysia is weighing tougher enforcement of a cap on foreign ownership of insurers as it seeks to boost local participation in the industry, people with knowledge of the matter said. The central bank is considering more strictly applying an existing policy that foreign companies owning 100 percent of local insurance firms must pare their stakes to no more ...

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• 16 April

  Modi’s record infra spend boosts loan volume

  

    Bloomberg Prime Minister Narendra Modi’s ambitious plans to spend a record $60 billion on India’s infrastructure this fiscal year may provide a much-needed boost to the rupee loan market after project-finance volumes slumped last year. Bank loan commitments for project financing may potentially double to 2 trillion rupees ($31 billion) this financial year, according to Muhund Kannappan, a credit ...

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• 16 April

  Broadcom wins Japan banks’ backing for Toshiba chip bid

  

    Bloomberg Broadcom Ltd. has lined up financing from three Japan banks and private-equity firm Silver Lake as it bids for Toshiba Corp.’s semiconductor business, according to people familiar with the matter. The lending units of Mizuho Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. plan to provide about $15 billion in loans, while ...

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