Bloomberg SBM Holdings Ltd., Mauritius’s second-largest lender, plans more acquisitions in Kenya as it seeks to become one of the country’s top 10 banks within the next three years before expanding into West Africa. The bank, which obtained a license to begin operating SBM Kenya Ltd. in May, expects to have its systems and staff in place by December, Advisor ...

Emirates Business Banca Generali and Saxo Bank announce they have reached an agreement to establish an exclusive partnership to offer online trading and digital services. The objective is to offer clients, on an exclusive basis for the Italian market, access to an innovative platform for advanced trading, based on Saxo Bank’s technology and managed by a newly established SIM owned ...

Bloomberg Jia Chen was in London again this summer—just one of the many trips she’s recently made across the Atlantic—to peddle a product left for dead in the ruins of the financial crisis. The 35-year-old Citigroup Inc. director has spent the past two years meeting clients, speaking at industry panels and becoming the face of a resurgent market for synthetic ...

Bloomberg ­­­­­­­­­­­­­­­ Bombardier Inc.’s all-new jetliner, which cost at least $6 billion to develop, just got harder to sell in the world’s largest aviation market. The US Commerce Department slapped import duties of 220 percent on the C Series plane, citing improper subsidies after a complaint by Boeing Co. The preliminary determination threatens to upend Bombardier’s planned deliveries next year ...

Bloomberg Construction workers have already started the work towards filling in part of the South China Sea to make room for Hong Kong airport’s third runway. The project is also set to make bankers busy. The Airport Authority Hong Kong needs to raise $8.8 billion to fund the runway, and should consider selling bonds and tapping the loan market, according ...

Bloomberg EasyJet Plc is working with a US engineering startup to develop a fully electric commercial plane within a decade, the low-cost British airline said on Wednesday. Founded last year by a team of engineers and battery chemists, US-based Wright Electric is setting its sights on designing an aircraft that can fly 335 miles. That would cover 20 percent of ...

Bloomberg As sales of Gucci’s snake-covered handbags and heels lead the luxury industry’s upswell, many of the brand’s Italian rivals are struggling to catch the wave. Shares of Prada SpA, Salvatore Ferragamo SpA and Tod’s SpA have all posted double-digit declines in the past six months as profits fall, while privately held Giorgio Armani SpA is pruning its lineup after ...

Dubai / WAM The fertiliser production capacity in the Gulf Cooperation Council (GCC) region has reached 42.3 million tonnes per annum in 2017, increasing by 12 per cent over the previous year, according to a new report of the Gulf Petrochemicals and Chemicals Association (GPCA). According to the report entitled, ‘2016 GCC Fertiliser Industry Indicators’, the industry expanded at the ...

DUBAI / WAM Dubai Economy achieved a milestone in its accelerators initiative by establishing a partnership to facilitate financial transactions through contactless payment. The partnership brings Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd together under the Dubai Economy Accelerators umbrella to develop and implement emCash, an encrypted digital currency, which people can use to ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has been named Leading Corporate for Investor Relations in the UAE at the 2017 Middle East IR Association (MEIRA), Annual Conference. The awards recognise top IR leaders in the region for the quality of their work, and are based ...