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IATA warns rising costs for airport infrastructure are risk for airlines

IATA warns rising costs for airport infrastructure are risk for airlines

SINGAPORE: The growing cost of airport infrastructure poses risks to the airline industry’s profitability and growth, the head of the International Air Transport Association (IATA) said, adding there was an infrastructure crisis almost everywhere in the world. “We see the costs rising to where it could be unbearable for the airlines and passengers,” IATA CEO […]

February 5, 2018 | By | Reply More
Asian demand for 16,000 planes spells jackpot for Airbus, Boeing

Asian demand for 16,000 planes spells jackpot for Airbus, Boeing

Asia Pacific is likely to have 3.5 billion passengers by 2036 and carriers will need more aircrafts to meet this demand. SINGAPORE: Airbus and Boeing have never had it so good in Asia. The rapid growth of mainland Chinese carriers and the entry of many budget operators has meant billions of dollars in orders for […]

February 5, 2018 | By | Reply More
Oil prices fall on strong dollar, Brent near one-month low

Oil prices fall on strong dollar, Brent near one-month low

Brent LCOc1 was down 75 cents, or 1.1%, at US$67.83 a barrel at 0033 GMT, after falling 1.5% on Friday. TOKYO: Oil prices on Monday extended declines from the end of last week on the back of a stronger dollar, with Brent crude falling to its lowest in nearly a month. Other markets dropped as […]

February 5, 2018 | By | Reply More
Broadcom to raise Qualcomm bid in push for talks, sources say

Broadcom to raise Qualcomm bid in push for talks, sources say

NEW YORK: Broadcom Ltd plans to unveil a new approximately US$120 billion offer for Qualcomm Inc on Monday, aiming to ratchet up pressure on its US semiconductor peer to engage in negotiations, people familiar with the matter said on Sunday. The move comes ahead of a Qualcomm shareholder meeting scheduled for March 6, when Broadcom […]

February 5, 2018 | By | Reply More
UPS order for Boeing freighters highlights trade growth

UPS order for Boeing freighters highlights trade growth

SINGAPORE: A recovery in international trade is reviving demand for aircraft once proudly linked to long-haul passenger travel and now mainly dependent on hauling cargo to stay in production. The upturn underscores a solid economic backdrop to this week’s Singapore Airshow, as the airline industry heads into its ninth year of global profits. On the […]

February 5, 2018 | By | Reply More
Alibaba deepens India push with BigBasket investment

Alibaba deepens India push with BigBasket investment

MUMBAI: China’s Alibaba became the biggest shareholder in India’s leading online grocer BigBasket after a US$300-million funding round, stepping up its rivalry with Amazon in the country. Alibaba invested US$146 million in the grocer, subscribing to compulsorily convertible preference shares, BigBasket said in a filing to Indian regulators. Investors picked up stakes in BigBasket through […]

February 5, 2018 | By | Reply More
Perfect storm: China’s blizzard exposes flaws in rail, coal policies

Perfect storm: China’s blizzard exposes flaws in rail, coal policies

BEIJING: China’s worst blizzard this winter exposed a flaw in Beijing’s drive to create remote coal mining hubs as it tries to streamline heavy industries and clear the air in populated regions: a lack of railroads to get the fuel to market. Heavy snow storms snarled the world’s largest rail network this week, closing highways, […]

February 4, 2018 | By | Reply More
Exxon sees global oil demand plunging by 2040 under climate regulations

Exxon sees global oil demand plunging by 2040 under climate regulations

HOUSTON: Exxon Mobil Corp said on Friday that it expects global oil demand to drop sharply by 2040 if regulations aimed at limiting the impact of greenhouse gas emissions on climate are fully implemented. Under this scenario, Exxon projected world oil consumption will drop 0.4% annually to 2040 to about 78 million barrels per day […]

February 4, 2018 | By | Reply More
Britain to probe if airlines deliberately split passenger groups

Britain to probe if airlines deliberately split passenger groups

Some customers have complained that they have been seated away from their friends or family in order to force them to pay extra for allocated seating. LONDON: Britain’s Civil Aviation Authority (CAA) said on Saturday it was beginning a review into airlines’ seating policies, including whether some operators were deliberating splitting up groups of passengers […]

February 4, 2018 | By | Reply More
Merck’s consumer health sale at risk as Nestle bows out, say sources

Merck’s consumer health sale at risk as Nestle bows out, say sources

LONDON/FRANKFURT: The sale of Merck KGaA’s consumer health unit has been thrown off track after Nestle has pulled out, leaving the race to buy the maker of Seven Seas vitamins without its main contender, sources familiar with the matter told Reuters. Nestle has walked away from the process, led by JPMorgan, after months of negotiations […]

February 4, 2018 | By | Reply More