MIAMI – The International Air Transport Association (IATA) announced collaborations with British Airways and Microsoft to further enhance the accuracy of IATA CO2 Connect for Cargo in calculating carbon emissions.
The announcement was made at the IATA World Sustainability Symposium (WSS), currently taking place in Miami.
British Airways will be contributing flight-level fuel burn data of its approximately 700 daily flights to IATA CO2 Connect.
“At British Airways, transparency and consistency are essential to our sustainability efforts. By sharing our flight-level fuel burn data with IATA CO2 Connect, we’re enhancing the accuracy of CO2 emissions’ calculations and ensuring access to reliable, clear information.
It’s crucial for the entire industry to align on these standards, and collaboration is key,” said Carrie Harris, Director of Sustainability at British Airways. – IATA
China admits economy
facing new ‘problems’
BEIJING – China’s top leaders, including president Xi Jinping, admitted yesterday that the economy was facing new “problems” and vowed to resolve a long-running housing sector crisis, state media said. Beijing this week unveiled a raft of new measures aimed at boosting its ailing economy, which the leadership aims to grow by 5% in 2024 – an objective analysts say is optimistic, given the headwinds it is facing. Yesterday, the ruling Communist Party convened a meeting of its top body, the Politburo, to “analyse and study the current economic situation”.
“Some new situations and problems have emerged in the current running of the economy,” Xinhua news agency reported after the meeting, which was attended by Xi. – Nampa/AFP
German consumer
morale improves
FRANKFURT – German shoppers are heading into October feeling slightly more optimistic, a key survey showed yesterday, even as the outlook for Europe’s biggest economy remains gloomy. The forward-looking indicator climbed to minus 21.2 points for October, up 0.7 points from a month earlier, according to pollsters GfK and the Nuremberg Institute for Market Decisions (NIM).
The survey of around 2 000 people showed a “slight increase” in consumer confidence, NIM consumer expert Rolf Buerkl said, adding however that it did not signal “the start of a noticeable recovery”. – Nampa/AFP
IMF board approves
Pakistan loan agreement
ISLAMABAD – The International Monetary Fund agreed to loan Pakistan US$7 billion to bolster its faltering economy, approving a relief package the government said would not have been possible without the support of China.
Although the South Asian nation’s economy has stabilised since it came close to defaulting last summer, it is dependent on IMF bailouts and loans from friendly countries to service its huge debt, which swallows up half of its annual revenues.
The three-year loan programme “will require sound policies and reforms” to support Pakistan’s ongoing efforts to strengthen its economy “and create conditions for stronger, more inclusive and resilient growth”, the IMF said in a statement. – Nampa/AFP
Trading halted in Hong Kong’s New World Development
HONG KONG – Share trading in property giant New World Development was suspended in Hong Kong yesterday ahead of its earnings release later in the day, amid reports its chief executive will step down, and it will post its first loss in two decades.
“At the request of (New World Development Company Limited), trading … has been halted with effect from 9h00 am yesterday, 26 September 2024, pending the release of announcements in relation to certain inside information of the company,” a filing at the Hong Kong stock exchange said.
Trade in department store unit New World Department Store China was also halted. The firm, one of Hong Kong’s largest developers, was due to release its earnings yesterday, with Bloomberg reporting that CEO Adrian Cheng would step down owing to it recording a HK$20 billion (US$2.6 billion) loss, which it said was the first in two decades. – Nampa/AFP