BA Owner Still Likes Norwegian, Sees Qatar Pact Exit: IAG Update - Bloomberg:
IAG SA CEO Willie Walsh dropped a couple of late bombshells at the British Airways owner’s investment day on Friday, saying his company hasn’t given up on buying Norwegian Air Shuttle ASA and that Qatar Airways, the U.K. group’s biggest investor, may quit the Oneworld Alliance.
Walsh said IAG’s interest in Norwegian may start dimming over time after it had two bids rejected, but still sounded keen on a deal, adding that he’s constantly monitoring the situation. The remarks regarding Qatar Air amount to the first independent confirmation that it was serious in a recent warning that it could walk away from Oneworld amid tensions with other members.
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Saturday 3 November 2018
The Inside Story of How Uber Got Into Business With the Saudi Arabian Government - Bloomberg
The Inside Story of How Uber Got Into Business With the Saudi Arabian Government - Bloomberg:
Even as Uber’s lawyers finalized the details of the deal, they still couldn't quite believe it would really happen. The Saudi Arabian government was set to give the San Francisco-based startup $3.5 billion, an astronomical amount. The company’s legal team had to double-check that it was even possible to send that much money in a single wire transfer. But on June 1, 2016, the Saudi Public Investment Fund sent Uber Technologies Inc. the cash in one lump sum. It was the largest single investment from a foreign government to a venture-backed startup ever—and still is.
The sprawling consequences of that mega-deal have yet to fully unfold. Two years ago, the money helped Uber settle its war with Didi Chuxing in China, fortified its position against rival Lyft Inc. and empowered then Chief Executive Officer Travis Kalanick ahead of a long, pitched battle with investors who ultimately pushed him out. Now, the deal is drawing Uber into a global reckoning over the business world's relationship with Saudi Arabia.
Even as Uber’s lawyers finalized the details of the deal, they still couldn't quite believe it would really happen. The Saudi Arabian government was set to give the San Francisco-based startup $3.5 billion, an astronomical amount. The company’s legal team had to double-check that it was even possible to send that much money in a single wire transfer. But on June 1, 2016, the Saudi Public Investment Fund sent Uber Technologies Inc. the cash in one lump sum. It was the largest single investment from a foreign government to a venture-backed startup ever—and still is.
The sprawling consequences of that mega-deal have yet to fully unfold. Two years ago, the money helped Uber settle its war with Didi Chuxing in China, fortified its position against rival Lyft Inc. and empowered then Chief Executive Officer Travis Kalanick ahead of a long, pitched battle with investors who ultimately pushed him out. Now, the deal is drawing Uber into a global reckoning over the business world's relationship with Saudi Arabia.
Saudi Prince Alwaleed’s Brother Released After Reported Arrest - Bloomberg
Saudi Prince Alwaleed’s Brother Released After Reported Arrest - Bloomberg:
The brother of Saudi Arabia’s billionaire Prince Alwaleed bin Talal was welcomed home this weekend after reportedly being detained for nearly a year, according to posts from relatives on Twitter.
The release of Prince Khaled bin Talal came as the Saudi royal family grapples with fallout from the murder of Saudi journalist Jamal Khashoggi, a government insider turned critic.
Relatives of Prince Khaled shared photos of him embracing his son, who’s been in a coma for years. “Thank God for your safety,” Princess Reem bint Alwaleed, Prince Khaled’s niece, wrote on her verified Twitter account -- using a common Arabic phrase for welcoming someone home. It was not clear why Prince Khaled was detained or why he was released, and the government didn’t immediately respond on Saturday to a request for comment.
The brother of Saudi Arabia’s billionaire Prince Alwaleed bin Talal was welcomed home this weekend after reportedly being detained for nearly a year, according to posts from relatives on Twitter.
The release of Prince Khaled bin Talal came as the Saudi royal family grapples with fallout from the murder of Saudi journalist Jamal Khashoggi, a government insider turned critic.
Relatives of Prince Khaled shared photos of him embracing his son, who’s been in a coma for years. “Thank God for your safety,” Princess Reem bint Alwaleed, Prince Khaled’s niece, wrote on her verified Twitter account -- using a common Arabic phrase for welcoming someone home. It was not clear why Prince Khaled was detained or why he was released, and the government didn’t immediately respond on Saturday to a request for comment.
IranAir looking for planes not needing U.S. sales permit - website | Reuters
IranAir looking for planes not needing U.S. sales permit - website | Reuters:
IranAir is looking to buy planes from any company not requiring U.S. sales permits and may consider Russia’s Sukhoi Superjet 100, the flag carrier’s head was quoted as saying, as Iran tries to renew its aging fleet despite facing U.S. sanctions.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC)revoked licenses for Boeing Co (BA.N) and Airbus (AIR.PA) to sell passenger jets to Iran after President Donald Trump pulled the United States out of the 2015 Iran nuclear agreement in May and reimposed sanctions.
“We welcome any (company) which is able to provide the planes needed by IranAir. We even have gone after planes such as Sukhoi 100 or planes made by non-European countries,” said IranAir Chief Executive Farzaneh Sharafbafi, quoted by Iran’s Roads Ministry website.
IranAir is looking to buy planes from any company not requiring U.S. sales permits and may consider Russia’s Sukhoi Superjet 100, the flag carrier’s head was quoted as saying, as Iran tries to renew its aging fleet despite facing U.S. sanctions.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC)revoked licenses for Boeing Co (BA.N) and Airbus (AIR.PA) to sell passenger jets to Iran after President Donald Trump pulled the United States out of the 2015 Iran nuclear agreement in May and reimposed sanctions.
“We welcome any (company) which is able to provide the planes needed by IranAir. We even have gone after planes such as Sukhoi 100 or planes made by non-European countries,” said IranAir Chief Executive Farzaneh Sharafbafi, quoted by Iran’s Roads Ministry website.
Arab neighbours hope Khashoggi outrage will rein in Saudi prince | Financial Times
Arab neighbours hope Khashoggi outrage will rein in Saudi prince | Financial Times:
Arab countries are hoping that the fallout from Jamal Khashoggi’s death will lead Crown Prince Mohammed bin Salman to temper aggressive policies that have unsettled the region since his ascent to power in Riyadh.
Arab governments in the Gulf and the Middle East have fallen over each other to defend Saudi Arabia’s de facto ruler as a Turkey-led campaign singled out some of his closest aides as alleged perpetrators of the killing of the Saudi journalist in the kingdom’s Istanbul consulate.
But privately, diplomats and senior officials from those countries have told the Financial Times that the death of the Saudi regime’s critic had confirmed their early concerns over the prince and was the latest in a series of ill-judged operations destabilising the region and threatening to sour relations with the Gulf’s protector, the US.
Arab countries are hoping that the fallout from Jamal Khashoggi’s death will lead Crown Prince Mohammed bin Salman to temper aggressive policies that have unsettled the region since his ascent to power in Riyadh.
Arab governments in the Gulf and the Middle East have fallen over each other to defend Saudi Arabia’s de facto ruler as a Turkey-led campaign singled out some of his closest aides as alleged perpetrators of the killing of the Saudi journalist in the kingdom’s Istanbul consulate.
But privately, diplomats and senior officials from those countries have told the Financial Times that the death of the Saudi regime’s critic had confirmed their early concerns over the prince and was the latest in a series of ill-judged operations destabilising the region and threatening to sour relations with the Gulf’s protector, the US.