SYDNEY / Reuters A first sale of green Islamic bonds by Indonesia could help open the door for more crossover deals across Asia, as religious and environmentally-minded investors find a middle ground in the sukuk funding format. Last week, Indonesia became the first Asian sovereign to sell green sukuk, raising $1.25 billion via a five-year deal, alongside a $1.75 billion …

Islamabad / Reuters Pakistan’s capital market regulator has drafted governance rules that cover sharia-compliant companies and securities, the latest government initiative aimed at develo- ping the country’s Islamic finance industry. The move by the Securities and Exchange Commission of Pakistan (SECP) marks the first time a regulator has defined comprehensive requirements for companies that deem themselves to be compliant with …

Bloomberg The swings are getting bigger in stocks, and the divide is getting wider among people whose job is to forecast them. Bank of America (BofA) strategists led by Michael Hartnett say they see another correction coming, similar to the one in early February when about $6 trillion was erased globally. This year’s turbulence is part of a topping process …

Bloomberg Norway lowered the central bank’s inflation target after policy makers struggled to meet the goal, going against the grain in a global debate where many have called for levels to be raised to allow more room to support economies. The government reduced the target to 2 percent from 2.5 percent, bringing it in line with other central banks such …

Bloomberg American Airlines Group Inc. is crying foul over a planned $8.5 billion renovation of Chicago’s O’Hare International Airport, claiming a “secret provision” awards additional gates to United Continental Holdings Inc. in a terminal slated to be torn down. The arrangement favouring Chicago-based United was “inserted at the last minute,” American said. United called the claim “disingenuous,” denied there was …

Bloomberg A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3 billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan. The GMR-Megawide venture, which is operating and expanding another airport in central Philippines, said it can increase the airfield …

Bloomberg Airbus SE may need to stock up on the parts it needs to build wings at its UK plants to avoid the risk of delays to deliveries once Britain formally leaves the European Union. The European planemaker has warned that it can only ensure the UK factories remain untouched if its operations retain the same level of efficiency. “If …

Bloomberg Amazon.com Inc.’s data services division is recruiting for several positions in Argentina, signalling the online retailer is expanding its presence in Latin America beyond Mexico and Brazil. The Seattle-based company is advertising for eight full-time positions for its Amazon Web Services cloud-computing business. The job postings on Amazon’s company website include a senior consultant on migration, sales account managers …

Bloomberg After the strongest holiday-shopping season in more than a decade, investors have grown increasingly impatient with retailers that didn’t enjoy the good fortune. Shares of J.C. Penney Co. and Foot Locker Inc. tumbled in the wake of lukewarm results during the fourth quarter, which included the crucial Christmas season. The chains both posted weaker-than-expected comparable sales, a key benchmark. …

BARCELONA/ WAM Etisalat received ‘The Most Valuable Telecoms Brand’ in the Middle East and North Africa Region presented by Brand Finance, marking the company’s increase in brand value by 40 percent to $7.7billion, higher than any other telecom brand in the region and the only telecom provider to break the $7bn brand value mark in the region. Etisalat is the …