Share to Twitter Share to Linkedin United Airlines got a lift Tuesday from a strong outlook, including higher unit revenue projections, and from the Federal Aviation Administration’s move to approve the return of its Boeing BA 777 fleet, grounded for more than a year. The aircraft accounts for 10% of United’s fleet. The outlook and FAA decision were both announced late Monday. United shares closed Monday at $43.54. In Tuesday morning trading, shares had risen about 6%. “We’re pretty pleased by where we are,” United Chief Commercial Officer Andrew Nocella said Tuesday at a Bank of America BAC investor conference. “Everything is really strong. We often talk about ‘Is this the strongest environment we’ve ever seen?’ Absolutely.” United now expects current quarter total revenue per available seat mile to be up 23% to 25% over the same quarter in 2019, an improvement from previous guidance of a 17% increase, according to the Securities & … [Read more...] about United Airlines Cites ‘Strongest Environment We’ve Ever Seen’ As Demand And Fares Rise
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Malaysia’s digital economy to contribute 22.6% to GDP, create half a million jobs by 2025
SINGAPORE: The digital economy is expected to contribute 22.6 per cent of Malaysia’s gross domestic product (GDP) and create over 500,000 jobs by 2025, said Science, Technology and Innovation Minister Datuk Seri Dr Adham Baba. Dr Adham said Malaysia has placed priorities on expanding the adoption of digital consumer tools (e-commerce and digital payments); attracting, training, and retaining digital talent; fostering digital entrepreneurial ventures; providing fast fibre optics and mobile broadband Internet access; as well as coordinating innovation between universities, businesses and digital authorities. "The level of digital evolution helped cushion against the pandemic’s economic impact. For example, more digitally-evolved economies tend to derive a larger share of their GDP from high-tech sectors, where the workforce can shift to remote working more readily. "In addition, they tend to be better at delivering public services online due to superior infrastructure, experience … [Read more...] about Malaysia’s digital economy to contribute 22.6% to GDP, create half a million jobs by 2025
Grab revenue rises, loss narrows on delivery, ride demand
- A + A (May 19): Grab Holdings Ltd said revenue rose 6% in the first quarter after the ride-hailing and delivery company won back consumers as the pandemic receded in Southeast Asia. Revenue increased to US$228 million after the Singapore-based company added sales from Jaya Grocer, a platform it acquired in January. That was more than the US$139.2 million analysts were expecting, according to data compiled by Bloomberg. Grab’s net loss narrowed to US$435 million, as the company fights to gain profitability following years of heavy spending in pursuit of market share. The company managed to grow paying users 10% to 30.9 million after Southeast Asian countries removed pandemic-era restrictions. Per-user spending climbed 19%, it said. Unlike other Internet companies that are grappling with cooling post-Covid online activity, Grab’s car-hailing and delivery businesses benefit as life returned to normal. The company had struggled since becoming a publicly listed … [Read more...] about Grab revenue rises, loss narrows on delivery, ride demand
Explained | What is the upcoming WTO summit and why it is crucial for India
World Trade Organization The Ministerial Conference, the top-most decision making body of the World Trade Organization (WTO), sets the global rules of trade. The summit, therefore, sets the agenda for bilateral and multilateral trade and investments. Decisions taken at the event have long-term consequences in determining shipping volumes, trade flows, customs and monetary policy, and, in turn, the economic prosperity of nations. While usually it is held once in two years, the upcoming summit in end-November gains immense importance as it is being held for the first time since 2017. The scheduled summit for 2020 was cancelled because of COVID. Moneycontrol takes a detailed look at the issues of importance, from the right of countries to stockpile foodgrains for public distribution to farm subsidies to the rights of countries to fish in international waters. Global IP waiver for COVID vaccine Close While this will continue to be the singular issue of … [Read more...] about Explained | What is the upcoming WTO summit and why it is crucial for India
October exports rise 43% Y-o-Y led by strong global orders
Representational Image. Source: Reuters Owing to strong global orders, India's merchandise exports rose by 43 percent in October this year as compared to same period previous year. Impressively, exports also rose by nearly 40 percent as compared to October 2019, before the pandemic struck. Data released by the Commerce and Industry Ministry on November 15 showed outbound trade rise to $35.65 billion in October, up from $ 24.92 billion in October 2020. Cumulatively, exports have grown by 55 percent in the April-October period of FY22 (2021-22) as compared to the same period of 2020. Compared to 2019, exports have gone up by 26 percent over the same period, the Ministry said. After a difficult FY21 (2020-21), exports had begun rising since December. In February, before the low base effect kicked in, growth was a marginal 0.67 percent. Since then, calculated annually (Y-o-Y), exports had seen major growth owing to the low base effect which has now worn off, officials say. … [Read more...] about October exports rise 43% Y-o-Y led by strong global orders
A US$60 bil crypto collapse reveals a new kind of bank run
- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run
S&P 500, Dow slip as Cisco drags, Nasdaq steady after selloff
- A + A NEW YORK/BENGALURU (May 19): The S&P 500 and the Dow extended losses on Thursday as Cisco Systems slumped after it gave a dismal outlook, while investors fretted over the impact of surging inflation on economic growth and corporate earnings. Shares of the networking gear maker slumped 12.7% as it lowered 2022 revenue growth outlook, taking a hit from Russia exit, as well as component shortage due to China lockdowns. Kohl's Corp slipped 1.1% after the department store chain cut its full-year profit forecast, the latest US retailer to flag a hit from four-decades high inflation. The S&P consumer staples index fell 1.9% to hit a seven-month low and was the biggest decliner among the 11 major sectors, as retail firms face the brunt of rising prices hurting the purchasing power of US consumers. "The consumer component is now starting to weaken, which bolsters the perspective that we are indeed heading into a recession," said Randy Frederick, managing … [Read more...] about S&P 500, Dow slip as Cisco drags, Nasdaq steady after selloff
Plunging stocks, recession fears. Here’s how to protect your money
This is an updated version of a story that previously ran on April 28th. When it comes to fraying nerves, this spring is really outperforming. Stocks are now in bear market territory. Interest rates -- and Covid cases -- are climbing. Inflation remains high. Geopolitical unrest continues. And all of it combined is sparking recession fears . No one's finances are immune. But there are ways to guard against losses and make the most of what you have. Lock in a new job now With ultra-low unemployment and plenty of openings , it's a job seeker's market right now. But if there's a recession, that could change quickly. So make hay while you can. Read More "If you are not working, or are looking for a better position, now would be a good time to take advantage of the very strong job market and lock in a position," said Florida-based certified financial planner Mari Adam. To help in your search, here are some resume dos and … [Read more...] about Plunging stocks, recession fears. Here’s how to protect your money
Why The Digital Nomad Visa May Be Exactly What You Need
Share to Twitter Share to Linkedin In a strange way, the Covid-19 pandemic has created a new breed of entrepreneur: one that has learned how to make a living digitally, who has a laptop and is equipped to work anywhere, and who leads a mobile lifestyle. Such an individual is sometimes called a digital nomad - someone who uses technology to work remotely while being away from home. Many countries offer such individuals and their dependants digital nomad visas. Here are some details about these visas that may answer some of the questions you may have. What's A Digital Nomad Visa? Digital nomad visas are authorizations to work in countries while the applicants are staying there. Like tourist visas, they are easy to obtain but in addition, they allow for longer stays. A digital nomad visa allows its holder to work during their stay in a country provided they do not enter the local labor market. They do not compete for jobs with local residents and work … [Read more...] about Why The Digital Nomad Visa May Be Exactly What You Need
Book Review: Dana Brown’s Entertaining and Insightful Memoir of Vanity Fair, ‘Dilettante.’
Share to Twitter Share to Linkedin Upon return from a family vacation three summers ago, economist Ike Brannon remarked at a subsequent lunch about an individual at the resort who was almost literally covered in tattoos. This was an expensive resort, and Brannon wondered how he and his family were sharing the same pool. To be clear, Brannon’s wonderment about the inked up vacationer wasn’t of the nose-upturned variety; rather he wanted to know what profession afforded so much individuality and disposable income. It turns out his poolmate was a chef. To younger readers, the mention of chef likely elicits a “so what?” response. For those born in the 1970s or earlier, the response is different. We remember . We remember when chef was a “dead end” job for, yes, people with tattoos. They were referred to as cooks then. It’s a long or short way of saying that the economic thinker in Brannon was celebrating a happy truth about prosperity: it elevates all manner of … [Read more...] about Book Review: Dana Brown’s Entertaining and Insightful Memoir of Vanity Fair, ‘Dilettante.’