China's Home-Grown C919 Completes First Commercial Flight

China's first domestically produced passenger jet C919 flies during its first commercial flight from Shanghai to Beijing, in Shanghai on May 28, 2023. (AFP)
China's first domestically produced passenger jet C919 flies during its first commercial flight from Shanghai to Beijing, in Shanghai on May 28, 2023. (AFP)
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China's Home-Grown C919 Completes First Commercial Flight

China's first domestically produced passenger jet C919 flies during its first commercial flight from Shanghai to Beijing, in Shanghai on May 28, 2023. (AFP)
China's first domestically produced passenger jet C919 flies during its first commercial flight from Shanghai to Beijing, in Shanghai on May 28, 2023. (AFP)

China Eastern Airlines Corp Ltd entered China's home-grown narrow-body C919 jet into passenger service on Sunday and completed its first commercial flight, marking a milestone in the country's effort to become more self-reliant.

The C919 is the product of state-backed Commercial Aviation Corp of China (COMAC) which began developing the jet 15 years ago to rival Airbus SE's A320neo and Boeing Co's 737 MAX single-aisle jet families.

President Xi Jinping has hailed the project as a triumph of Chinese innovation, while on Sunday state media trumpeted the plane as a symbol of industrial prowess and national pride.

"After generations of endeavor, we finally broke the West's aviation monopoly and rid ourselves of the humiliation of '800 million shirts for one Boeing'," Beijing Daily wrote, referring to the early years of economic reform around 40 years ago when China manufactured mainly low-value goods.

The C919 took off at 10:32 a.m. (0232 GMT) from Shanghai Hongqiao International Airport where COMAC and China Eastern Airlines are headquartered, and landed two hours later at Beijing Capital Airport, showed flight tracker app Variflight.

"I'm confident about the plane. The flight was smoother than expected," one of about 130 passengers told state broadcaster CCTV as he disembarked.

The plane is scheduled to return to Shanghai on Sunday, then make a longer two-way flight to the southwestern city of Chengdu on Monday.

Lv Boyuan, a 21-year-old student and aviation enthusiast, was at Shanghai's airport on Sunday to fly to Chengdu from where he planned to return on the C919 the following day.

"I've been really looking forward to its flight, especially because it's a new-generation aircraft, unlike Boeing and Airbus equivalents which have been around for a number of years now," said Lv.

The C919 made its first flight in 2017 after years of delays and has undergone numerous test flights since.

State-backed China Eastern Airlines ordered five of the jets in March 2021. It took delivery of the first in December and has said it expects to receive the remainder this year.

In total, COMAC had won 1,035 orders from 32 customers as at 2022-end. A company official has since told media the figure exceeds 1,200.

The planemaker expects annual production to reach 150 C919 jets within five years, domestic media reported in January.

Though assembled in China, the C919 relies heavily on Western components, including engines and avionics, from firms including General Electric Co, Safran SA and Honeywell International Inc.

Li Hanming, an independent expert on Chinese aviation, said most C919 orders were letters of intent from domestic customers. Its few foreign customers include lessor GE Capital Aviation Services Ltd.

"For the C919, the domestic market is big enough," Li said.

The international market is questionable given that neither European nor US regulators have certificated the aircraft, said Greg Waldron, Asia managing editor of industry publication FlightGlobal.

"Until this happens, key international markets will be closed to the C919," he said.

The C919's predecessor, the ARJ21, is a short-haul 90-seat aircraft that entered commercial operation in 2016 and is flown by major Chinese airlines as well as Indonesia's TransNusa.

The ARJ21's use in Indonesia indicates the C919's international future lies mainly in the developing world, Waldron said.

COMAC is also developing a CR929 wide-body jet in collaboration with Russia.



Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)
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Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)

Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday.

According to Reuters, Iraq is pushing for a higher OPEC production quota as the economic fallout from the Iran war and new investment by oil majors increase pressure on Baghdad to boost output, potentially putting it at odds with the producer group.

The conflict has hit Iraq particularly hard, forcing major export cuts and depriving the state of oil revenue, which accounted for 88% of government income last year.


IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
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IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International Monetary Fund Managing Director Kristalina Georgieva said on Friday.

Georgieva said concerns about dependence on the AI investment boom and high valuations were impacting markets around the world.

"Things are going up and down, and this is likely to continue," she told an audience at IMF headquarters in Washington, adding that the volatility would complicate the job of central banks at a time when risks to price stability had been growing.

A steep rout in technology stocks on Thursday rippled through markets on fears that ⁠the Democrats' victory ⁠in the US midterm elections would increase regulatory scrutiny of AI and slow the data center build-out, sending investors to the safety of bonds.

The political jitters are hitting an AI trade already on shaky footing due to worry about return on massive spending on AI-related infrastructure, with the meltdown spurring margin calls and spooking retail investors and hedge ⁠funds alike.

Georgieva said the AI investment boom was lifting growth in some countries, helping to offset a negative oil-supply shock triggered by the war in the Middle East, but it was also adding to inflationary pressures and financial stability concerns.

The IMF last month flagged significant growth and financial stability risks from a potential ending of the AI investment boom, among other factors, including a prolonged Middle East war. At the time, it warned that a steep drop in AI investment could lead to a sharp fall in asset prices, ultimately cutting global GDP ⁠by 1.1% ⁠by 2028, including a 1.8% drop in US output.

Georgieva did not repeat the downside forecast on Friday, but acknowledged the recent market volatility.

"Should there be a slowdown in the AI-driven growth impulse, it would need to be factored in as central banks assess the necessary steps in the fight against stubborn inflation," she said.

Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the US Congress in January, Reuters reported on Friday, citing congressional aides and advocates.

That would mark a sharp shift from the Republican-led Congress, where lawmakers largely focused on promoting AI development and declined to pass legislation restricting the technology.


World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
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World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, ‌averaged 133.9 points ‌in October, down from a revised ‌135.6 ⁠in September.

The index ⁠was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.

FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year ago, as wheat and maize quotations declined. Wheat prices eased on weak import demand ⁠and improved production prospects, especially in Argentina.

"Expectations of ‌easing constraints on Black ‌Sea export flows added to the downward pressure on prices, ‌although continued disruptions to Black Sea logistics limited the decline," ‌FAO said in a statement.

Maize prices also eased after reaching a three-year high in September, pressured by the US harvest, expectations of ample supplies in South America and renewed ‌prospects of easing tensions in the Black Sea region.

Vegetable oil prices edged up 0.3%, ⁠as ⁠higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices.

Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil. They were now 28.8% above a year ago.

The dairy index fell 1.1%, as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder.

The meat index declined 1.2%, while still slightly above its year-earlier level, as ovine and bovine meat prices fell.