Bloomberg Depositors started lining up outside Banesco Banco Universal’s branches in eastern Caracas, hoping to get cash — and answers — after Venezuela’s government seized the nation’s largest privately held bank. Half a dozen police officers carrying assault weapons stood outside the landmark emerald-glass headquarters of the institution known as Banesco after news of what authorities called a 90-day intervention ...

Bloomberg Amazon.com Inc. is offering to pass along the discounts it gets on credit-card fees to other retailers if they use its online payments service, according to people with knowledge of the matter, in a new threat to PayPal Holdings Inc. and card-issuing banks. The move shows Amazon is willing to sacrifice the profitability of its payments system to spread ...

Bloomberg A Southwest Airlines Co. jetliner made an unscheduled landing after a window cracked, two weeks after an accident on a separate plane in which a passenger was partially sucked out of a destroyed window and died. Flight 957 from Chicago-Midway to Newark, New Jersey, didn’t lose cabin pressure as it diverted to Cleveland, Southwest said in a statement. An ...

Bloomberg Hennes & Mauritz AB Chairman Stefan Persson may be single-handedly propping up shares in the Swedish fashion retailer. In April alone, the billionaire acquired about 18.2 million shares in Stockholm-based H&M for $278 million, bringing the value of purchases since the beginning of last year to 13.4 billion kronor. The transactions mean that Persson and his family now hold ...

Bloomberg Construction lights were so bright they were confusing to pilots who tried to land at night in July 2017 when a fatigued Air Canada crew almost struck four aircraft on the ground in San Francisco, according to preliminary reports. The National Transportation Safety Board (NTSB) released more than 500 pages of investigative reports, including a video recording of the ...

ABU DHABI / Emirates Business IBM announced the launch of its innovation and industry client center in Abu Dhabi. Inaugurated under the patronage of the Abu Dhabi Government, the center aims to fast track the digital transformation of both public and private organisations through advanced technologies in artificial intelligence, cloud, blockchain, security, analytics, IoT and quantum computing. The inauguration took ...

DUBAI / Emirates Business Emirates Islamic has won ‘best Islamic banking brand’ award from Global Brands Magazine, an independent leading brand publication that was established with the aim of honouring excellence in brand performance. The award reaffirms the bank’s excellence in innovation, improvement in customer service, and overall credentials as a leading Islamic bank in the UAE. Wasim Saifi, Deputy ...

DUBAI / Emirates Business Dubai’s trade for auto parts and accessories was valued at AED39.9 billion in 2017, a three percent increase over the previous year (AED38.7 billion), according to figures released by Dubai Customs on Wednesday. Imports of tyres, batteries, engine components and systems into Dubai were valued at AED22.35 billion last year, while the value of exports and ...

ABU DHABI / WAM Adnoc Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (Adnoc), has signed a contract with Borouge, a leading provider of value creating plastics solutions, to handle its Ruwais container terminal operations. The five-year contract, awarded through a competitive bidding process, is the first deal signed between Borouge and Adnoc ...

Dubai / WAM UAE-based Transguard Group on Wednesday released its annual figures for the financial year ending March 31, revealing another record, with revenue, profitand headcount increasing across the board. The figures, audited by PricewaterhouseCoopers, highlight the gro-up’s strength in the market, gene- rating revenue of more than AED2.3 billion, a 22% increase over the previous year and profit over ...