LONDON / Reuters The Japanese Bankers Association (JBA) and the China Banking Association (CBA) have joined forces to challenge proposed European Union regulations aimed at policing possible market risk posed by foreign lenders doing business in the bloc. In a letter to the European Commission seen by Reuters, the JBA and CBA — which represent hundreds of lenders from both ...

FRANKFURT / Reuters Once one of Germany’s chief power brokers in finance, Deutsche Bank Chairman Paul Achleitner’s switch of chief executive has triggered criticism that it was rushed through, casting a cloud over his own future. Achleitner forced out CEO John Cryan after a row that centred on what some describe as Cryan’s ‘indecisiveness’ in cutting jobs and costs, according ...

Bloomberg A plan to sell off India’s flagship airline is facing headwinds before it even gets started. Narendra Modi’s boldest asset sale yet is the proposed divestment of Air India, the nation’s money-losing flag carrier, has run into rough weather after some of the potential bidders opted out upset with the government’s terms. This setback, however, is the least of ...

Bloomberg Hundreds of flights were disrupted Saturday as a severe spring storm threatened to dump record snowfall on parts of the Midwestern US, while ice and freezing rain hit Canada’s Ontario province. Minneapolis-St. Paul International Airport, a regional hub for Delta Air Lines, has had to slow or halt aircraft throughout the day, contributing to about 350 cancelled flights, according ...

Bloomberg Boeing Co. proposed to build fighter jets in India along with two local firms, as the US giant prepares to bid for the world’s biggest combat aircraft order, joining the likes of Lockheed Martin Corp. and Saab AB. Boeing will partner state-run Hindustan Aeronautics Ltd. and Mahindra Defense Systems to manufacture the F/A-18 Super Hornet in India at a ...

Bloomberg Tax cuts have given a boost to Americans’ take-home pay this year. The question hanging over the US economy is whether they are putting the extra cash towards savings and debt, or using it to go shopping. Retail-sales data due on Monday from the Commerce Department will help provide an answer, and economists are betting that consumers finally opened ...

LONDON / Reuters Rolls-Royce requires more money and more inspections to fix problems with Trent 1000 engines on Boeing 787 Dreamliner planes, leading to further disruption for airlines and testing relations between Rolls and its customers. Problems with engine turbine blades wearing out sooner than expected have hampered a restructuring programme prompted by the engineering company’s declining older engine programmes ...

DUBAI / WAM The Dubai Land Department (DLD) revealed that real estate transactions in Dubai for the first three months of 2018 totalled AED58 billion through 13,759 sales. Commenting on the announcement, Sultan Butti bin Mejren, Director-General of DLD, said, “The Dubai real estate market continues to show continuous growth, driven by general optimism and confidence in the real estate ...

DUBAI / WAM Deyaar on Saturday announced its preliminary unaudited financial results for the first quarter of 2018, ending on March 31, 2018. Deyaar reported a year-on-year increase in revenues by nearly 25 percent to over AED176 million for the first quarter of 2018, compared to AED142 million last year. Deyaar reported a healthy rise in net profit by more ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) has been awarded the ISO 27001 Certification, and is among few in the region to have been given this accolade. ISO 27001 is a globally recognised standard for “Information Security Management System” and provides the accreditation on SIB’s security practices to customers, regulators, partners and other stakeholders and ensures that SIB is aligned ...