Stock Markets
Biman Bangladesh to buy 10 Airbus jets, breaking Boeing reliance
State-owned carrier Biman Bangladesh Airlines has decided to purchase 10 planes from Airbus, in a shift from its Boeing-dominated fleet, the South Asian country’s junior minister for civil aviation told Reuters on Monday.
“As per our requirement, the decision has been taken to purchase 10 aircraft in phases. The technical committee is assessing now,” Mahbub Ali said.
Ali’s comments came after sources said the airline was close to a deal to buy 10 Airbus A350 widebody planes, marking its first order with the French planemaker.
It was not clear whether the deal would be finalised in time for the Paris Airshow, which opens on Monday.
Airbus declined to comment. Biman did not respond to a request for comment.
“Every country has both Airbus and Boeing in their fleet. We didn’t have an Airbus in our fleet,”
Ali said, as the airline looks to break its reliance on the U.S. planemaker that typically dominates widebody orders.
The 51-year-old airline has a fleet of more than 20 mostly Boeing planes, over half of which are widebodies, and some Dash-8 turboprops.
Biman Bangladesh’s demand for more widebody aircraft comes as travel is seeing a strong post-pandemic rebound. The carrier flies non-stop to 20 destinations worldwide including Britain, Malaysia, Thailand and Canada.
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New York, New York–(Newsfile Corp. – December 28, 2024) – Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Krystal Biotech , Inc. (NASDAQ: NASDAQ:) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.
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U.Today – American ETP issuer ProShares has made another decisive move to expand its ETF products suite. The asset manager has applied to list three new Bitcoin-linked ETF products, with stock market native products as reserves. These filings come amid growing consideration of more leniency in U.S. SEC approvals next year with a new Chairman set to take office.
ProShares Bitcoin ETF filings
Per an update from ETF Store President Nate Geraci, the three filings from ProShares include the S&P 500 Bitcoin ETF, the Nasdaq-100 Bitcoin ETF and the Gold Bitcoin ETF, respectively.
Nate Geraci states these products are long in the underlying stocks or gold. These would now feature a short USD and long Bitcoin position using offerings. The dual-faced model of these new ETFs made him call the prospective offerings “BTC hedged ETFs.”
Since spot Bitcoin and ETF products secured approval from the U.S. SEC, there has been no slowing down in the number of filings.
While the number of crypto ETFs like , Hedera, and ETF products has grown, asset managers are also intensifying how these offerings target traditional finance products more closely.
Geraci aptly observed that “Bitcoin is starting to eat tradfi.”
Year of crypto Wall Street takeover
The timing of the current filing has triggered commentary from market experts on how unrelenting ETF issuers are in driving more reach for the product. Beyond the $5,500 Ethereum price forecast from Galaxy Digital (TSX:), the firm also issued a major ETF adoption prediction.
As noted, at least one big asset manager will allocate 2% of its Assets Under Management (AuM) to Bitcoin, underscoring the potential for the asset to go mainstream on Wall Street.
Already, many traditional firms are buying Bitcoin through ETFs, complementing the unrelenting acquisitions from spot buyers like MicroStrategy.
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