Bloomberg For months, global regulators have been scrambling to get a grip on cryptocurrencies. Yet, even as they debate potential action, a key question looms: What exactly are these things? Now, a consensus appears to be forming around how to define these new instruments. In a speech at the annual general meeting of the Bank for International Settlements in Basel, ...

Bloomberg With a month to go before the world’s major airlines must comply with Beijing’s order to recognise Taiwan as part of China, US carriers risk flying fewer mainland passengers by staying defiant. While Japan Airlines Co., ANA Holdings Inc. and Australia’s Qantas Airways Ltd. have changed how they described Taiwan on their websites, Delta Air Lines Inc. and American ...

Bloomberg Boeing Co. isn’t waiting for next month’s Farnborough International Airshow to unveil blockbuster aircraft deals — or start booking cash. The Chicago-based planemaker is poised to bolster its backlog with orders valued at $14.4 billion thanks to two transactions announced. That’s a break from an industry practice of stockpiling sales for the biggest annual trade expo that alternates between ...

Bloomberg Jet Airways India Ltd. purchased another 75 of Boeing Co.’s 737 Max aircraft for about $8.8 billion as it looks to continue rapid expansion in the world’s fastest-growing major aviation market. The latest purchase brings the airline’s backlog for the narrowbody plane to 225, Jet said. It already placed two 75-plane orders, the most recent in April, with the ...

Bloomberg Neiman Marcus Group went online for its latest management search, hiring a former Amazon.com Inc. executive to run its luxury department store Bergdorf Goodman as it refocuses efforts on growing internet sales. Darcy Penick, previously chief executive officer of Amazon subsidiary Shopbop, will be tasked with speeding up the company’s “digital transformation,” according to a statement. She will step ...

Bloomberg The demise of Toys ‘R’ Us in the US has left billions of dollars in sales up for grabs, and Party City Holdco Inc. is going after that gaping hole. Party City plans to operate 50 pop-up toy stores from September through the holiday-shopping season, possibly in former locations of the defunct chain, executives said. The assortment will include ...

DUBAI / WAM As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial year 2017. As much as AED15.8 billion been disseminated to 466,482 investors. The number of listed companies that have outsourced the dividend distribution process to DFM increased from 35 companies during the previous year ...

DUBAI / WAM The Dubai World Trade Centre (DWTC) has announced up to 70 percent reduction on licencing and incorporation fees within the DWTC Authority (DWTCA), a Free Zone (FZ) offering offshore licences for businesses, and ‘One Central’, to spur business and benefit multi-sector growth. The DWTC’s programme will provide highly competitive offerings with the twin objectives of supporting inward ...

Bloomberg Abraaj Group has reached an agreement to sell its stake in Middlesex University’s Dubai campus to Amanat Holdings PJSC for about $100 million, people with knowledge of the matter said. An initial agreement has been signed and the deal is yet to close, the people said, asking not to be identified because the information is private. Dubai-based Amanat would ...

Bloomberg China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the US, saying unilateral actions risked pushing the world into a recession. Vice Premier Liu He — President Xi Jinping’s top economic adviser — said China and the EU had agreed to defend the multilateral trading system, following talks on Monday in Beijing. The ...