Bloomberg As an unprecedented diplomatic crisis spreads through the Gulf with Qatar at its center, one thing is certain: the country’s stock market has become the world’s most volatile. It’s difficult for investors to assess the impact to the country’s $135 billion stock market as the disagreements mark an unprecedented low in the relationship between the Arab countries, in particular ...

Bloomberg Banco Santander SA agreed to buy Banco Popular Espanol SA for a nominal 1 euro ($1.13) after European regulators determined that the troubled lender was likely to fail and ordered it to be sold. Santander will raise about 7 billion euros through a rights offer to bolster Popular’s balance sheet, it said in a regulatory filing on Wednesday. The ...

Bloomberg India kept interest rates unchanged as expected, as the central bank shrugged off slowing growth and vowed to continue to assess whether a drop in inflation to a record low in the $2 trillion economy was transitory. The Reserve Bank of India, led by Urjit Patel, kept its benchmark repurchase rate at 6.25 percent while maintaining its neutral stance, ...

Bloomberg Bank of the Philippine Islands (BPI) blamed an internal data-processing error for inaccurate customer-account balances amid a flurry of claims on social media over unauthorized withdrawals and missing funds. Some deposit accounts don’t reflect their correct balances because the processing error had caused past transactions to be either debited or credited twice, the third-largest Philippine lender by assets said ...

Bloomberg Qatar National Bank QPSC, the biggest lender in the Middle East, is trading at the cheapest relative to emerging-market peers since 2013 as a regional political storm engulfs its home country. That doesn’t mean analysts are suggesting it’s a good time to buy the stock. The Doha-based bank is trading at close to nine times its expected earnings, the ...

Bloomberg For 30 years, an army of UBS Group AG traders packed the football-field-sized floors of a building in the City of London’s largest office project. Now teams of laborers in high-visibility jackets are busily transforming the property for a different type of worker. Broadgate, a 32-acre (13-hectare) complex built to accommodate the banks and law firms that mushroomed out ...

DUBAI / Reuters Qatari nationals will not be allowed to board flights to Dubai or Abu Dhabi because the UAE has banned them from passing through its airports after Arab powers cut ties with Qatar, Etihad Airways said on Wednesday. Foreigners living in Qatar with residence visas will no longer be eligible for visas on arrival into the United Arab ...

Cancun / Emirates Business The International Air Transport Association (IATA) announced that Qantas will host the 74th IATA Annual General Meeting (AGM) and World Air Transport Summit. The event will attract the top leadership of the air transport industry to Sydney, Australia, from June 3-5, 2018. “Sydney is an excellent choice to become the capital of the global air transport ...

Casablanca / Emirates Business Etihad Cargo and Royal Air Maroc Cargo have signed a Memorandum of Understanding (MoU) which will see the two airlines cooperate in a number of areas including network development, freighter deployment and increasing traffic on several trade lanes over the next nine months. The MoU was signed at Royal Air Maroc’s headquarters in Casablanca by David ...

Bloomberg Steinhoff International Holdings NV said first-half earnings rose 13 percent as the acquisitive retailer that was started in South Africa reported revenue and margin growth across its household goods and general merchandise business. Operating profit increased to 903 million euros ($1 billion) in the six months through March, the Amsterdam-based company said on Wednesday in a statement. Sales advanced ...