Bloomberg Goldman Sachs Group Inc. and a venture founded by one of its former partners, billionaire Mike Novogratz, are investing in cryptocurrency custodian BitGo Holdings Inc., as the bank’s deep-pocketed clients keep asking about secure ways to hold those assets. Combined, Goldman Sachs and Novogratz’s Galaxy Digital Ventures contributed about $15 million to BitGo’s Series B fundraising, which brought in ...

Bloomberg The most stubborn dove in eastern Europe may finally be ready to follow the procession of central bankers lifting interest rates across emerging markets, according to Amundi Asset Management’s Hungarian unit. Rate setters in Budapest may track the European Central Bank’s expected move in the second half of next year, but a drop in global risk appetite or an ...

Bloomberg The Bank of Korea left its key interest rate unchanged as an escalating US-China trade war and meager job growth threaten to sap momentum in Asia’s fourth-largest economy. Eleven of 18 analysts surveyed by Bloomberg forecast the central bank to keep the seven-day repurchase rate at 1.5 percent. The rest predicted a hike to 1.75 percent. When Governor Lee ...

Bloomberg Boeing Co. is stepping up efforts to bolster its ties with China as President Donald Trump’s trade fight threatens to give rival Airbus SE an edge in the world’s second-biggest aviation market. In one sign of potential trouble, a Chinese airline that’s been an exclusive operator of Boeing jets for more than 30 years is said to be in ...

Bloomberg Airbus SE won a contract from Kuwait Airways for its A330-800 aircraft model, securing a vital deal for the struggling program at the expense of a reduced order for the jet’s bigger sibling. Kuwait Air agreed to buy eight A330neos while paring a commitment for the larger A350 from 10 planes to five, according to a statement. The order ...

ABU DHABI / Emirates Business Celebrating its 75th anniversary, Ikea is giving away instant cash prizes summing up to a total of AED 1,000,000 in giveaway prizes to lucky winners in the UAE, across their Dubai, Abu Dhabi and Al Ain stores. The retailer is awarding the shoppers scratch and win cards when they spend a minimum of AED400 in ...

Bloomberg Korean Air Lines Co. Chairman Cho Yang-ho is set to stand trial in an embezzlement case, adding to troubles faced by a family that’s been at the center of rage-driven scandals. Indicting Cho, prosecutors said he pocketed 19.6 billion won ($17 million) in fees meant for the carrier from maintenance and duty-free operations in the five years through 2018, ...

Bloomberg Amazon.com Inc. cracked down on fake reviews two years ago by prohibiting shoppers from getting free products directly from merchants in exchange for writing reviews. It was a major turning point for the world’s largest online retailer, which had previously seen “incentivised reviews” as a key way for consumers to discover new products. Amazon changed course because it realised ...

NEW YORK / WAM The United Arab Emirates and the United Nations Development Programme (UNDP) have announced a new Memorandum of Understanding that will allow UAE nationals to join the agency as full-time staff under a Junior Professional Officer (JPO) Programme. The agreement was signed by Reem Al Hashemy, Minister of State for International Cooperation, and Achim Steiner, Administrator of ...

DUBAI / WAM The Dubai Land Department (DLD) and the Telecommunications Regulatory Authority (TRA) signed a mem- orandum of understanding (MoU) during the Gitex Technology Week. The agreement aims to regulate real estate advertisements by setting an operational framework in the control departments, thus reducing misleading real estate advertisements. Hamad Obaid Al Mansoori, Director-General of the TRA, said, “The Authority ...