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1st 3 Bell-505 helis delivered to China!

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MIRABEL (Canada): Bell Helicopter, a Textron Inc. (NYSE: TXT) company has delivered the first three Bell 505 Jet Ranger X helicopters destined for the Chinese market during a ceremony held at Bell’s facility here. 

According to details, these are the first three aircraft of 110 ordered in 2017 by Reignwood International Investment Group Company Ltd, launch operator and exclusive authorized reseller in China for the 505. This first delivery follows the recent certification of the Bell 505 by the Civil Aviation Administration of China.

President Bell Canada Cynthia Garneau commenting on this delivery held: “Our team in Mirabel is extremely proud to have built and to deliver the first aircraft to Reignwood.  This is a very important milestone for Bell in Asia-Pacific and we are thrilled to contribute to the development of the commercial rotorcraft industry in China.”

 Bell MD for North Asia Jacinto Monge maintained: “The arrival of the new Bell 505 Jet Ranger X builds on the success of the renowned Jet Ranger legacy in China. We are excited that customers will now be able to experience the new Bell 505 Jet Ranger X and we are looking forward to seeing many more taking the skies as we continue to grow our footprint in China.” 

The Bell 505 Jet Ranger X is a five-seat, single-engine, turbine helicopter, the customer-driven design of the aircraft places safety, performance and affordability at the forefront.

Bell 505 is the first helicopter in its class equipped with the Garmin G1000H Integrated Avionics Suite; it provides pilots critical flight information at a glance to maximize situational awareness. Pilot workload is further reduced by the Safran Helicopter Engines Arrius 2R with dual channel Full Authority Digital Engine Control (FADEC).

It is designed to meet a wide variety of missions with its flat floor, increased cabin volume and clamshell doors that will provide customers the configuration flexibility needed in today’s market.

The Bell 505 cargo hook has been approved by the FAA to carry up to 2,000 lbs., including water for firefighting operations. The first three Bell 505s in China will be used for air tourism, air medical and agriculture missions respectively.

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PSX: Bears stay put in the bourse!

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KARACHI: Benchmark KSE-100 Index closed in the red (41,637) losing 721 points on the week’s last trading day.

Rs. 7.65b worth of 179m shares changed hands today. Value of the shares of 238 companies plummeted, 79 augmented while 16 remained stagnant.

While Commercial Banking Sector led the trade with 43.2m shares, the five leading traders of the shares today were: K-Electric Ltd., 20.3m shares (-3.27pc); Bank Of Punjab, 15.9m shares (-2.74pc); Lotte Chemical Pakistan Ltd., 11.9m shares (-1.78pc); Summit Bank Ltd.,  9.1m shares (-1.38pc); Pakistan Elektron Ltd., 8.2m shares (-4.76pc).

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Asia

Belarus ready to supply 20K tonnes of beef to China annually

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MOLODECHNO: Belarus is ready to supply 20,000 tonnes of beef to China annually, Aleksei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry said.

“In terms of beef supplies to China, we are limited by the number of certified companies. For the time being, there are only two of them. The Agriculture and Food Ministry is working to expand the list of such enterprises. This task is under control of the minister. As the number of companies that can supply beef to China increases, so will the volume of exports.

We are potentially ready to supply up to 20,000 tonnes of beef to China per year,” he told media. Belarusian enterprises seek to enter the Chinese market with finished goods not only with raw materials. “Of course, there are certain difficulties associated with the shelf-life of products.

Today we are working actively to reduce the delivery time using rail transport. Now the dairy industry is making great headway and has started to export finished products to China such as cheeses and packaged butter and are working to make inroads into the yogurt market. We are gradually expanding the range of products.

Today there is an interest in the shipments of Belarusian canned beef to China. This issue is under consideration,” Aleksei Bogdanov said.

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With an export of 220,000 tons, Belarus remained one of the world’s largest meat exporters: 

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Asia

Asian traders cautiously end brutal week 

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HONG KONG: Asian investors ended a tumultuous week on a cautious note Friday as the prospect of a debilitating global trade war hung over regional markets.

As European Union tariffs on key US goods – including jeans, bourbon, and motorcycles – came into effect, there were fears China and the US will carry through with their own threats, locking the world’s three biggest economies in a potentially destructive face-off. The EU move was in retaliation to Donald Trump’s decision to hit steel and aluminum imports from the bloc and comes after the US and China traded tit-for-tat threats on hundreds of billions of dollars of goods. That exchange sparked an international market retreat and fuelled worries a full-blown flare-up could pummel the global economy just as it is getting back on its feet after the global financial crisis.

“We have a trade war – and it’s an escalating trade war,” SEB chief economist Robert Bergqvist told AFP in an interview. “Investors… are more cautious today, they are waiting for the right time to reduce their exposure in stock markets.” New York’s three main indexes ended down – with the Dow suffering an eighth straight loss – as investors were spooked by news that Daimler had cut its profit forecasts because of new levies on cars exported from the US to China. “We heard from Daimler about the impact of the trade tensions on sales, and there are a growing number of stories about the chance of China directly targeting US firms who do business in the country,” said Greg McKenna, chief market strategist at AxiTrader.

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