Bloomberg Hungary’s central bank kept its monetary policy unchanged despite an uptick in inflation and a weakening forint, pledging to review its setup in June when its updated forecasts are due. Central bankers, who held the benchmark rate at 0.9 percent and the overnight deposit rate at minus 0.05 percent, said financing costs would remain favourable but a cautious approach …

Bloomberg European regulators assessing changes to Boeing Co’s grounded 737 Max will scrutinise the jet’s entire flight-control system before a return to the skies can be approved. The review by the European Union Aviation Safety Agency (EASA) will include the plane’s displays, alerts and air-data systems, as well as the aircraft’s autopilot function, EASA Director Patrick Ky wrote in a …

Bloomberg Walmart Inc hired an executive who has held senior roles at Google, Microsoft Corp and Amazon.com Inc as its new technology chief, while expanding and elevating the role. Suresh Kumar will join Walmart on July 8 as the retailer’s chief technology officer and chief development officer, reporting to chief executive officer Doug McMillon. He’ll be based out of the …

Bloomberg It’s not often that an entire economy is thrown off course by a single corporate event. But that’s what appears to have happened in Iceland. The recent bankruptcy of budget airline Wow Air has delivered such a blow to the Icelandic tourist industry, and the wider economy, that the central bank cut its main interest rate by half a …

Bloomberg Two months ago, Amazon.com Inc halted orders from thousands of suppliers with no explanation. Panic ensued — until the orders quietly resumed weeks later, with Amazon suggesting the pause was part of a campaign to weed out counterfeit products. Suppliers breathed a sigh of relief. Now a larger, more permanent purge is coming that will upend the relationship between …

ABU DHABI / WAM The UAE’s non-oil foreign trade, including direct and free zone trade, and customs warehouses, reached a total of AED1.628 trillion in 2018, announced the Federal Customs Authority (FCA) on Tuesday. In a statement, the authority noted that direct non-oil foreign trade accounted for 63 percent (AED1.025 trillion) of the total value, while free zone trade and …

ABU DHABI / WAM Mubadala Aerospace’s Turbine Services and Solutions, a maintenance repair and overhaul (MRO) provider for aircraft engines, gas turbines and driven equipment, has unveiled a new identity for its MRO business, which will now be known as Sanad Aerotech. The new brand positioning reflects the focus of Mubadala Aerospace on engineering excellence, underpinned by industry-leading reliability, innovation …

Bloomberg Brent crude traded around $70 a barrel as a two-day rebound eased on signs the US and China are still far from reaching a trade deal, but prices remained supported by supply risks in the Middle East. Futures in London held steady after rallying 3.5 percent. President Donald Trump said on a state visit to Japan that the US …

Bloomberg Noted economist and Harvard professor Carmen Reinhart has become the latest person to sound the alarm about Hong Kong, saying the city’s property market is showing signs of a bubble. “There are elements in the Hong Kong picture that are very reminiscent of Ireland, Spain, Iceland” before their crises, she told the Nomura Investment Forum Asia 2019 in Singapore. …

Bloomberg US equity futures steadied with European stocks as traders returned from American and UK holidays with a cautious outlook. The dollar advanced with Treasuries. Contracts on the S&P 500 fluctuated alongside those on the Dow Jones Industrial Average and the Nasdaq 100. The Stoxx Europe 600 index was steady, erasing earlier losses after better-than-forecast economic confidence data and as …