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 edged lower on Monday after Chinese data pointed to a further slowdown in the economy of world’s No.2 oil consumer, although prices stayed above $114 per barrel as investors remained optimistic that more global economic stimulus measures may be on the way.
KEPPEL CORP LTD
Singapore’s Keppel Corp, the world’s largest oil rig builder, said on Monday its unit is part a consortium that had won a contract worth around S$124 million ($99 million) for a waste-to-energy project in Bialystok, Poland.
SINGAPORE AIRLINES LTD
Singapore’s flagship carrier, Singapore Airlines, said on Friday it had appointed Hsieh Tsun-yan and Gautam Banerjee to its board as independent non-executive directors.
Cabin crews of the German airline will strike again on Tuesday and extend work stoppages, after a labour action on Friday over pay and cost-cutting measures brought Frankfurt airport, Germany’s busiest, to a standstill.
Europe’s largest car maker denied a German magazine report it was bracing for a slump in the economy and had told suppliers it was considering cutting production by 10 percent in the European autumn.
Oil exploration firm Petrolinvest is considering the sale of its units EcoEnergy, Silurian and Wisent, some of which hold shale gas exploration licences in Poland, Rzeczpospolita reported on Saturday without citing its sources.
State-owned holding company Cassa Depositi e Prestiti is ready to sell a 3.4 percent stake in oil and gas group Eni in the second half of September, Il Sole-24 Ore reported on Sunday.
The company’s aircraft-making unit Airbus said on Friday that it was delaying by at least three months the first delivery of Europe’s flagship army plane next year, blaming engine problems.
Turkey’s national carrier Turkish Airlines beat analysts’ forecasts in the second quarter, posting a net profit of 193.1 million lira ($105 mln) up from a 170 million lira loss in the same period a year earlier.
The automaker will manufacture 3,000 units of its new Cargo model from 2013 and will gradually raise its truck production to 20,000 units, its general manager Haydar Yenigun said.
Hyundai Motor Co and affiliate KIA Motors Corp have signed a Memorandum Of Understanding with the University of California, Berkely, and the University of
California, Davis, to build a joint research center.