February, 2017

• 7 February

  Final condenser for Barakah installed

    Abu Dhabi / Emirates Business The Emirates Nuclear Energy Corporation (ENEC) has completed the installation of the condenser for Unit 4 of the Barakah Nuclear Energy Plant, being built in the Western Region of Abu Dhabi. As one of the largest condensers in the Middle East region, the one installed at Unit 4 marks the final condenser installation at ...

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• 7 February

  Trump’s $1trn plan may buy less metal than expected

  

    Bloomberg Anyone expecting more from the Donald Trump rally in metals should probably consider just how much $1 trillion in government spending will actually buy. That’s the amount the new US president pledged to expand and rebuild American infrastructure like roads and airports over the next decade. While Trump has yet to make a formal proposal to Congress, investors ...

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• 7 February

  Google coordinates funding of legal brief versus Trump order

  

    Bloomberg Google parent Alphabet Inc. is organizing the funding of the legal brief signed by more than 120 companies that oppose President Donald Trump’s executive order on immigration, according to people familiar with the arrangement. While Alphabet is coordinating with Washington, D.C.-based law firm Mayer Brown LLP to handle the amicus brief, other companies have offered to fund a ...

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• 7 February

  Fitbit faces probe into theft of Jawbone trade secrets

  

    Bloomberg Jawbone Inc. isn’t backing down in its legal fight with Fitbit Inc., asserting in a court filing that its rival is under investigation by a criminal grand jury for theft of trade secrets. The two pioneers in wearable activity trackers have been embroiled in legal battles since May 2015, when Jawbone accused Fitbit in a lawsuit of plundering ...

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• 7 February

  Smaller Dec US trade deficit caps worst year in four

  

    Bloomberg The US trade deficit narrowed in December for the first time in three months, a modest improvement that nonetheless left the gap for all of last year at its widest since 2012. The monthly shortfall shrank 3.2 percent to $44.3 billion, Commerce Department figures showed on Tuesday. The median forecast in a Bloomberg survey of economists called for ...

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• 7 February

  US tax on imports to derail Land Rovers

  

    Bloomberg As Washington mulls a tax on imports, an auto industry study suggests the policy would deliver the sharpest blow to Tata Motors Ltd.’s Jaguar Land Rover while giving a leg up to Tesla Inc. and Ford Motor Co. In what it calls a “thought exercise,” researcher Baum & Associates LLC estimates most automakers would need to raise vehicle ...

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• 7 February

  Taiwan to revive aerospace fortunes with jet trainers

  

    TAICHUNG / AP Seeking to revive its long-dormant aerospace industry, Taiwan on Tuesday launched a $2.1 billion investment in the production of air force jet trainers to be designed and manufactured on the island to counter Chinese military and diplomatic pressure. President Tsai Ing-wen presided over a ceremony in the central city of Taichung to inaugurate the project, which ...

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• 7 February

  Singapore Airlines profit drops 36%

  

    Bloomberg Singapore Airlines Ltd., Southeast Asia’s biggest carrier, posted a 36 percent drop in third-quarter profit as passenger numbers declined and the company wrote down the value of a budget unit’s brand. Net income in the three months through December fell to S$177.2 million ($125 million) from S$274.9 million a year ago, with the drop attributed to a S$79 ...

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• 7 February

  JetBlue to trim 2017 capacity growth

  

    Bloomberg JetBlue Airways Corp. cut back on 2017 expansion plans, joining other U.S. carriers in the effort to keep the number of seats and flights in check to gain more control over pricing. The New York-based carrier is trying to catch up with larger U.S. airlines, which have been slowing growth to stanch bleeding in the closely watched measure ...

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• 7 February

  Korean Air’s debt costs set to worsen as won weakens

  

    Bloomberg Korean Air Lines Co. ended last year with a credit rating downgrade and debt-to-equity ratio approaching 1,000 percent — the worst among Asian full-service carriers. Investors of the money-losing airline face an even bleaker 2017 as a weaker won raises the cost of repaying foreign debt. The Korean currency is projected to weaken around 7 percent against the ...

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