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Abu Dhabi / WAM The latest data issued by the Organisation of the Petroleum Exporting Countries (Opec), has shown that the UAE was one of the most committed producing countries to the deal to cut oil output, aimed at rebalancing the world oil market. According to reports issued by Opec, the UAE’s average production during the third quarter of 2020 ...

Bloomberg Oil rises amid a weaker dollar and signs of improving demand in China and India. Crude futures gained as much as 2.3% in New York as the Bloomberg Dollar Spot Index weakened as much as 0.3%, raising the appeal for commodities priced in the currency. Meanwhile, refinery activity in Asia is signaling a bright spot for demand recovery. One ...

Bloomberg Delta Air Lines Inc is delaying $5 billion in aircraft deliveries until after 2022, dealing a blow to Airbus SE as the US carrier braces for years of weak travel demand. The deferrals include about $2 billion in planes that were scheduled to be handed over this year, Delta said in a statement as it reported worse-than-expected quarterly results. ...

Bloomberg Raytheon Technologies Corp began shedding salaried workers at its Pratt & Whitney jet-engine unit as the company prepares for a long slump in sales and repair work. Most of the involuntary cuts will occur over the next few days and affect workers in the US, Canada and Poland, Pratt said in an internal memo seen by Bloomberg News . ...

Bloomberg Americans are slowly starting to fly again, which signals a positive turnaround for owners of the more than $120 billion of municipal debt sold by the nation’s airports. Some 5.7 million travellers passed through checkpoints in the week ended on October 10, the most since the coronavirus pandemic scuttled air travel and halted tourism, according to the Transportation Security ...

Bloomberg Boeing is nearing 1,000 scrapped or impaired jetliner orders this year, failing to notch any sales in September, as the long 737 Max grounding and the coronavirus pandemic extended their toll. The reduction of 983 net plane orders this year has winnowed Boeing’s stockpile by 19%, according to data posted on the company’s website. Cancellations accounted for about a ...

Bloomberg Black Friday is known for massive crowds of shoppers elbowing one another aside to get a good deal. At Walmart Inc, that won’t be the case this year. The world’s biggest retailer will limit the number of customers inside its stores to just 20% of usual capacity as the threat of the coronavirus looms over this holiday shopping season. ...

Bloomberg Investors pushed the value of Instacart Inc to $17.7 billion in a new private funding round, more than doubling the valuation of the grocery-delivery startup since the start of the coronavirus pandemic. Valiant Peregrine Fund and Daniel Sundheim’s D1 Capital Partners, two existing investors in Instacart, led the round, the grocery startup said. Instacart plans to use the $200 ...

Bloomberg Wealthy buyers of mansions and penthouse apartments in London are finding that the pandemic isn’t throwing bargains their way. Luxury homes that changed hands for more than $13 million in the second quarter sold at an average 95% of their asking prices, according to latest data from broker Knight Frank. That was the smallest discount since the end of ...

Bloomberg European stocks rise with US futures as investors prepared for some of the biggest banks to report earnings including Wells Fargo & Co. and Bank of America Corp. The pound pared declines after the UK signalled it will continue efforts to reach an agreement with the European Union on their future relationship beyond Prime Minister Boris Johnson’s October 15 ...