Royal Air Maroc Buys 4 Boeing 7879 Dreamliner for USD 11

Rabat – Royal Air Maroc is expanding its aircraft fleet. The national carrier has  ordered four 787-9 Dreamliners from Boeing valued at USD 1.1 billion.The order includes two Dreamliners purchased in December 2016 and two purchased this month, revealed the Boeing mediaroom.The ordered  Dreamliners will  bring  Royal Air Maroc fleet of fuel-efficient 787s to a total of nine airplanes, said the mediaroom. “Today Royal Air Maroc has direct flights to 80 international destinations. Thanks to our unique position as a geographic hub and high quality service, we bring customers from all over the world to their destinations,”  Abdelhamid Addou, CEO and Chairman of RAM told the same source.“With more than 850 flights per month to Africa, Royal Air Maroc has the broadest airline presence on the continent,” he said.“With ordering new-generation planes such as the Dreamliners, RAM seeks to be  the leading airline in Africa in terms of quality of service, quality of planes and connectivity.”The flag carrier fleet includes more than 56 Boeing airplanes, including 737s, 767-300ERs, 787s and a 747-400.Boeing is a  joint venture partner of Morocco Aero-Technical Interconnect Systems (MATIS) Aerospace in Casablanca, which builds wire bundles and wire harnesses for Boeing and other aerospace companies.“Expanding the relationship between our companies that began nearly 50 years ago, Boeing is proud to support Royal Air Maroc’s growth plans within Africa and further connect Morocco to the world, ” said Ihssane Mounir, senior vice president of Global Sales and Marketing for Boeing Commercial Airplanes. read more

Markets update at midmorning

On the markets at midmorning (ET):The Toronto Stock Exchange’s S&P/TSX composite index was up 17.48 points to 15,219.58, after 90 minutes of trading.In New York, the Dow Jones industrial average was up 17.70 points to 21,981.62. The S&P 500 index was down 8.35 points to 2,468.00 and the Nasdaq composite index was down 38.95 points to 6,323.99.The Canadian dollar was trading at 79.54 cents US, down from Tuesday’s average price of 79.91 cents US.The September crude contract was down 30 cents to US$48.86 per barrel and the September natural gas contract was unchanged at US$2.82 per mmBTU.The December gold contract was down $2.80 to US$1,276.60 an ounce and the September copper contract was down one cent to US$2.87 a pound. read more

Global trust declining our world needs steppedup global leadership

“On the other hand,” he added, “ambitious climate action will not only slow temperature rise, it will be good for economies, for the environment and for public health. Climate solutions represent opportunity, and technology is on our side.  They are wise investments in an equitable, prosperous and sustainable future.  Green business truly is good business.”Turning to the funding needed for climate change mitigation and adaptation, the Secretary-General recalled the pledge to mobilize $100 billion per year for climate action in support of the developing world by 2020, and welcomed Germany’s Wednesday announcement to donate $1.5 billion to the Green Climate Fund: “the members of the G20 (group of industrialized nations) are responsible for more than three-quarters of greenhouse emissions. Yet it is equally true that G20 members have the power to bend the emissions curve. They also have the resources to provide the financing needed for both mitigation and adaptation.”Ahead of the opening of the G20 on Friday in Buenos Aires, Mr. Guterres has sent a letter to the Heads of State taking part, in which he warns of the “increasingly acute” threats to human prosperity posed by climate-change and rising inequality, and underlines the need to preserve and renew multilateralism in order to “redirect globalization towards sustainable development for all.”To achieve the 2030 Agenda for sustainable development, the UN’s blueprint to transform the world for the better, the Secretary-General outlines 7 areas for G20 leaders to prioritize: Implementing the 2030 Agenda for Sustainable Development, Financing for Sustainable Development, Climate Action, Sustainable Food Future, Gender Equality and Empowerment of Women, The Future of Work, and Migrants and Refugees.The letter ends with an appeal to the leaders to conclude with an ambitious communiqué that “responds to the challenges of our time and upholds the spirit of cooperation.” In a press briefing on Wednesday, Mr. Guterres said that the meetings, both of which he is attending, come at a crucial moment: “Our world is obviously facing a crisis of confidence. Those left behind by globalization are losing trust in governments and institutions,” he told journalists at UN Headquarters in New York.“Inequality is pervasive and increasing, especially within nations. Trade disputes are escalating. And an undercurrent of geopolitical tensions is adding further pressure to the global economy.”The UN Chief outlined some examples of the stark, climate-related challenges the world is facing, such as Tuesday’s UN Environment report – calling for a five-fold increase in climate action to limit global temperature rises to 1.5 degrees by the end of the century – and the World Meteorological Organization’s announcement that carbon dioxide levels have increased to levels not seen in 3 million years.Mr. Guterres made a passionate call for immediate action, pointing out that the social, economic and environmental costs of climate change dwarf the costs of acting now: “Failure to act means more disasters and emergencies and air pollution that could cost the global economy as much as US$21 trillion by 2050.” read more