Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Monday.
WORLD OIL PRICES
Brent crude rose above $114 per barrel to a more than three-month high on Monday on renewed fears of supply disruption as Israel’s latest comments on stopping Iran from proceeding with a disputed nuclear programme stoked tension in the region.
Of the 111,814 cars registered in the Czech Republic in the first seven months of the year, nearly 17,000 were later unregistered and exported. Officially the car market grew by 4.3 percent in the period, but excluding the re-exports, it was only up by 0.8 percent.
TIGER AIRWAYS HOLDINGS LTD
– Budget carrier Tiger Airways said it carried 532,000 passengers in July, 49 percent more than a year ago, but its passenger load factor slipped one percentage point to 84 percent.
The German auto parts and tyre maker expects third-quarter sales to be “slightly” lower than in the second quarter because of the summer holidays and described new order levels as “pleasant,” Frankfurter Allgemeine Sonntagszeitung reported on Sunday, citing the company’sfinance chief.
BP – Eagle Rock Energy Partners said on Friday that it will acquire BP America’s two processing plants and associated gathering system in the Texas Panhandle for $227.5 million in cash to expand in the liquids-rich region.
IAG – British Airways parent may consider taking a stake in its oneworld alliance partner American Airlines, a move that could block any takeover of American by IAG rival Delta.
Geely Automobile Holdings Ltd said its total sales volume for July was 28,322 units, up 30 percent over the same month last year, but was down 18 percent from June due to seasonal reasons. Its export volume was maintained at over 10,000 units in July.
SOUTH SUDAN OIL
A pipeline allowing South Sudan to export its oil via the Kenyan port of Lamu, freeing the landlocked country from reliance on a route through Sudan, will cost $3 billion, Finance Minister Kosti Manibe said.
Oil prices slipped on Friday on data showing China’s crude oil imports dropped in July and on weaker global oil demand forecasts by the International Energy Agency.
KIA Motors Corp will start its global social service business, ‘Green Light Project’ in Tanzania, Africa.