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.
Tokyo stocks close lower
TOKYO: Shares here closed lower today as uncertainty caused by factors including Brexit and trade tensions weighed on the market, wiping out early gains.
The benchmark Nikkei 225 index fell 0.34 percent or 71.48 points to 21,148.02 while the broader Topix index was down 0.91 percent or 14.50 points at 1,575.31. Tokyo shares opened higher, rebounding from sharp drops the previous day, with investors apparently relieved that Wall Street eked out gains after a volatile session.
“But sentiment worsened as investors remained cautious amid uncertain elements such as the postponement of Britain’s Brexit vote and the US-China trade war,” Daiwa Securities senior technical analyst Hikaru Sato told AFP. European stock markets and the pound slid Monday after British Prime Minister Theresa May said she was delaying a parliamentary vote on her deal to leave the EU after conceding it would not win sufficient support.
“The market is concerned that the postponement uses up valuable time before the 29th March exit date, and the risk of a no-deal scenario is growing,” David de Garis, director of economics and markets at National Australia Bank said in a commentary. The dollar slipped to 113.10 yen in late Asian trade from 113.35 yen in New York Monday afternoon. In individual stocks trade, SoftBank Group jumped 2.44 percent to 8,827 yen after announcing Monday it aims to raise over $23 billion by listing its Japanese mobile unit next week.
Nissan kept falling, down 3.10 percent at 915.7 yen after tumbling 2.90 percent on Monday as ousted chairman Carlos Ghosn was charged and faced new allegations of alleged financial misconduct. Prosecutors also charged Nissan for filing documents that allegedly understated Ghosn’s earnings. The Nikkei daily reported Tuesday that Nissan plans to book years of under-reported compensation paid to Ghosn as expenses in the year to March 2019 all at once, a move that could worsen the automaker’s balance sheet. Toyota lost 1.09 percent to 6,745 yen but Sony rose 0.72 percent to 5,735 yen.
Pound stuck a 20-month low
HONG KONG: Asian equities were mixed Tuesday as investor attempts to track gains in New York are weighed by a perfect storm of issues that have hammered global markets, while the pound remained stuck around 20-month lows on Brexit uncertainty.
Bargain-buyers tried to step in after the latest sell-off but were unable to gain traction, with fears about the outlook for the global economy keeping sentiment beaten down. The China-US trade row, signs of softness in both countries’ economies, the Huawei arrest, Brexit, demonstrations in France and tanking oil prices are among the problems facing investors, and analysts warned of more volatility to come.
Adding to those problems is upheaval in India – another crucial economy – where the head of the central Reserve Bank of India has resigned following a row with Prime Minister Narendra Modi’s administration over alleged government interference. Monday’s development sent the rupee, which was already Asia’s worst-performing currency, tumbling more than one percent Tuesday, with speculation the RBI had intervened to pare the losses. The Mumbai stock market initially fell a similar amount before bouncing back.
Global risk sentiment “is facing a towering wall of worry as virtually every major economy in the world is slowing, suggesting the synchronized global slowdown is accelerating at a much faster pace than thought,” said Stephen Innes, head of Asia-Pacific trade at OANDA. In Asian trade, Hong Kong rose 0.2 percent and Shanghai gained 0.4 percent but Tokyo shed 0.3 percent. Singapore slipped 0.3 percent, Seoul was marginally lower and Sydney rose 0.4 percent. Bangkok and Jakarta slipped, while Wellington, Manila, and Taipei were up.
Iran-US Pistachio War!
TEHRAN: Global pistachio market is dominated by Iran and the United States who are in stiff competition to gain a bigger share of the market, said the head of Iran Pistachio Association today.
Mahmoud Abtahi told Iran Daily that although the US had managed to grab a larger share of the global pistachio market in recent years, Iran’s high-quality product had been able to attract more buyers. He said the annual pistachio exports of Iran and the US stood at 160,000 tons and 200,000 tons respectively in recent years. He said Italy, Greece, Afghanistan, Syria, and Turkey were also among the main players in the world pistachio market, but none of them could compete with Iran. “Turkey is seeking to raise its pistachio harvest to gain a bigger share of the global market,” he noted.
He said Iran’s pistachio sold for between US $10 and US $12 per kilogram in the global market. Abtahi noted that Iran exports about 80 percent of its pistachio harvest, adding that the price of the product in the local market was determined by its global price as well as its supply and demand. The official referred to the 100-year history of Iran’s pistachio exports and said, “We export pistachio to almost all countries both directly and indirectly.” Abtahi reiterated that dried fruits were among the country’s most important non-oil export items, of which the share of pistachios was 70 percent.
He said that Iran mostly exports pistachio in bulk as each country processes and packs pistachio based on its preferences. “On the other hand, tariffs on packaged pistachios are high in many countries, therefore exporters prefer to export pistachio in bulk,” he said. Abtahi noted that pistachio production in Iran declined in the year to March 21, 2019, adding pistachio yields bumper crop every other year. The official blamed spring frost as the other factor responsible for a decline in Iran’s pistachio output. He said about 230,000 tons of pistachios were produced in Iran in the year to March 2018 and this figure is expected to reach 50,000 tons in the current year. The official cited Kerman, Khorasan Razavi and Yazd as the provinces with the highest number of pistachio orchards in the country.