Bloomberg Malaysia’s central bank cut its benchmark interest rate in a surprise move on Wednesday, the first in Southeast Asia to do so this year as it seeks to support its economy amid lingering global uncertainty. Bank Negara Malaysia reduced the overnight policy rate to 2.75%, a 25 basis-point cut predicted by just two of the 26 economists surveyed by ...

Bloomberg UBS Group AG Chairman Axel Weber said his top priority for the next months is working to reduce a $5 billion French tax fine that’s prompted the bank to postpone a decision on future share buybacks until the second half of the year. The Swiss lender was slapped with the fine after a Paris court found it guilty of ...

Bloomberg Ukraine is stepping up plans to slash Europe’s highest benchmark borrowing costs. Inflation has plummeted to the lowest in almost six years after the hryvnia outshone all other currencies against the dollar in 2019. The more benign backdrop will be reflected in this month’s quarterly projections for interest rates, according to the central bank. “This forecast will be more ...

Bloomberg The International Monetary Fund’s (IMF) influence in Pakistan’s central bank got another boost with the appointment of a second senior official from the fund. Murtaza Syed was appointed as deputy governor at the State Bank of Pakistan for a three-year term, according to a finance ministry notification. Syed was previously deputy division chief in the IMF’s strategy, policy, and ...

Bloomberg Boeing Co said its grounded 737 Max won’t be cleared to fly until the middle of this year, at least six months later than previously anticipated, adding to the company’s financial burden. The US planemaker is resetting expectations as it addresses two recent setbacks for the embattled Max: a software flaw that will require more work than expected and ...

Bloomberg United Airlines Holdings Inc declared an early victory on its 2020 profit goal, handing a steady keel to President Scott Kirby as he prepares to take over as chief executive officer in four months. Adjusted earnings climbed to $12.05 a share in 2019, United said in a statement, achieving a longstanding target that the company initially set for this ...

Bloomberg Burberry Group Plc became the latest victim of the Hong Kong protests as sales in that market dropped by half over the Christmas quarter, while the spread of a new viral disease in Asia risks dimming the outlook further. The stock fell as much as 4.1% even after the company raised its forecast for full-year sales growth to a ...

Bloomberg News that J Sainsbury Plc Chief Executive Officer Mike Coupe is leaving in May marks the end of an unrewarding chapter for the UK grocer’s shareholders. Competition from German discounters Aldi and Lidl and a shift to online shopping have put British supermarkets including Tesco Plc and Wm Morrison Supermarkets Plc under pressure, but Sainsbury shares have suffered the ...

Bloomberg More than two decades after a war split them apart and created one of the biggest national rivalries in Europe, Serbia and Kosovo took a step towards renewing flights between their capitals. In a US-brokered deal, Serbia, Kosovo and carrier Deutsche Lufthansa AG signed a letter of intent that puts in place conditions for the flights to resume. “It ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), published its 2020 Global Investment Outlook Report, ‘Shaping tomorrow, today’. The report, written by the bank’s industry experts, examines the current global economic and investment environment, providing insights into key macro-economic trends. According to the report, FAB is expecting growth in 2020 for the UAE. The International Monetary Fund (IMF), forecasts that the ...