December, 2016

• 8 December

  Traders abandon ship as OPEC cuts profits at sea

  

    Bloomberg OPEC’s decision to pump less is poised to deter some oil traders from hoarding crude at sea. The group’s pledge to cut output and ease a global glut has weakened a market structure known as contango that benefited traders who stocked crude on ships to be sold at a potential profit in the future. The planned reductions have ...

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• 8 December

  Dubai stocks mark rise, Saudi & Egypt pull back

    DUBAI / Reuters Stock markets in the United Arab Emirates rose strongly for a second straight day on Thursday while blue chips in Saudi Arabia and Egypt fell as investors kept booking profits. Dubai”s index added 1.8 percent with trading volume jumping 75 percent from the previous day as mid- and large- sized shares attract foreign funds. Emaar Properties ...

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• 8 December

  European stocks rise as ECB extends helping hand

  

    AFP European stock markets rose on Thursday after the European Central Bank extended its massive bond-buying programme, signalling that the eurozone”s fragile economy can count on its continued support. European bonds also firmed on the prospect of further ECB asset purchases, while the euro slipped against the dollar in very volatile trading. The ECB”s announcement that it will scale ...

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• 8 December

  Dubai-based Emirates ends A380 delivery standoff

  

    Bloomberg Emirates, the biggest long-haul airline, said it struck a deal to accept deliveries of A380 jets powered by Rolls-Royce Holdings Plc engines after the UK manufacturer agreed to fund measures to address performance and maintenance concerns. Dubai-based Emirates will take the first double-decker with Trent 900 engines from Rolls-Royce on December 16, two weeks later than planned, in ...

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• 8 December

  Vietnam Airlines to lease 20 A321neo planes

  

    Bloomberg Vietnam Airlines Corp. plans to lease 20 A321neo aircraft to add domestic as well as regional flights after carrying a record number of passengers in one of the world’s fastest-growing aviation markets. The Airbus planes, to be delivered starting 2018, will be used for flights within a five-hour radius, including the popular Hanoi-Ho Chi Minh City route, Chief ...

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• 8 December

  Delta tests free coach meals on US routes

    Bloomberg Delta Air Lines Inc. passengers flying coach between New York City and California may get a treat rarely seen on U.S. flights since 2010: free meals. The airline is testing the complimentary food on flights between New York’s John F. Kennedy International Airport and Los Angeles and San Francisco, which are some of the industry’s most competitive and ...

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• 8 December

  Bombardier seeks new C series deal to retain momentum

  

    Bloomberg Bombardier Inc. anticipates another major order for the C Series jet next year following project-bolstering deals from Delta Air Lines Inc. and Air Canada in 2016, and may announce a smaller contract this month. The Canadian planemaker is pursuing prospects including some high-volume opportunities and would like to gain a foothold in the low-cost airline segment next year, ...

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• 8 December

  UniCredit lifts capital level with $2.6bn Pekao unit sale

  

    Bloomberg UniCredit SpA advanced its plan to boost capital, agreeing to sell 32.8 percent of Poland’s Bank Pekao SA to Insurer PZU SA and a Polish development fund for 10.6 billion zloty ($2.6 billion). The sale will lift UniCredit’s CET1 capital ratio 55 basis points above its Sept. 30 level, the Italian bank said in a statement on Thursday. ...

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• 8 December

  BofA ups referral quota for Merrill Lynch wealth advisers

  

    Bloomberg Bank of America Corp. doubled the number of internal referrals that advisers in its Merrill Lynch wealth-management unit must make to avoid having their compensation cut. The brokers must refer at least two clients annually for banking services in other parts of the company starting in 2017, up from one, said Susan McCabe, a spokeswoman for the Charlotte, ...

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• 8 December

  World’s oldest bank asks ECB for extension

    Rome / AFP The world’s oldest bank, Italy’s Monte dei Paschi di Siena (BMPS), asked the European Central Bank for more time to raise the cash it needs to avoid being wound down. BMPS said it was asking for the extension from the end of December to mid January because the political instability created by Prime Minister Matteo Renzi’s ...

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