Bloomberg Lloyds Banking Group Plc, Britain’s largest mortgage lender, will eliminate about 1,340 jobs as part of a cost-cutting program that started in October 2014, according to a labor union. The move is part of a plan to pare about 12,000 roles by 2017, the Accord labor union, which represents the bank’s employees, said in a statement Wednesday. The job ...

  Bloomberg Wells Fargo & Co. combined corporate payments and some consumer-banking operations with the technology-innovations group, creating a unit run by the former leader of consumer lending, Avid Modjtabai. As head of the Payments, Virtual Solutions and Innovation unit, Modjtabai will report to Chief Operating Officer Tim Sloan, according to a statement Monday from the San Francisco-based bank that ...

  Bloomberg Less than a week after raising $3 billion in a private debt sale, Deutsche Bank AG returned for another $1.5 billion, offering a yield premium twice what it paid to borrow a year ago. The German lender sold the debt to mostly the same investors who bought last week’s offering at a slightly lower premium of 290 basis ...

  Bloomberg There’s no need at the moment for tighter monetary policy in Romania because the economy is experiencing the “best macroeconomic picture” since the collapse of communism and growth hasn’t become unsustainable, central bank Deputy Governor Liviu Voinea said. The consumer-led expansion in the European Union’s second-poorest member isn’t showing signs of overheating, recording a positive output gap — ...

  Abu Dhabi / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Western Region and Chairman of the Emirates Red Crescent (ERC), stressed that the United Arab Emirates, under the leadership of President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, continues to implement its developmental and humanitarian initiatives to alleviate the suffering of people in Yemen. ...

  Sofia / WAM Bolstering economic relations, and trade and investment between the United Arab Emirates (UAE) and Bulgaria are the focus of talks between UAE Minister of Economy Sultan bin Saeed Al Mansouri and Bulgarian Prime Minister Boyko Borisov in the Bulgarian capital. Trade between the UAE and Bulgaria stood at US$500 million in 2015, said Al Mansouri, who is ...

  MINSK / WAM The UAE and Belarus on Tuesday held a second round of political consultations in the Belarus capital to explore bilateral relations in the political, economic, trade and military sectors. The UAE delegation was headed by Fares Mohammed Al Mazrouei, Assistant Minister of Foreign Affairs and International Cooperation for Security and Military Affairs, while the Belarus delegation was ...

  Dubai / Emirates Business Dubai Real Estate Institute (DREI), the educational arm of Dubai Land Department (DLD), is partnering with Impact Hub Dubai (IHD) to launch the new Emirati Launchpad. This programme starts on November 2 will provide a number of specialised training courses for nationals, aimed towards assisting them in joining the Dubai real estate market, in engaging ...

  Dubai / Emirates Business The UAE Ministry of Finance (MoF), in partnership with National Bank of Abu Dhabi (NBAD), is all set to launch new innovative e-Dirham products and services during GITEX Technology Week scheduled from October 16 to 20 at the Dubai World Trade Centre. The launch of new e-Dirham products aims at enriching customer experience and increasing ...

  Bloomberg Samsung Electronics Co. cut its third-quarter operating profit by $2.3 billion after ending production of its fire-prone Galaxy Note 7 smartphones, the first official indication of how much the crisis will cost South Korea’s largest company. Profit is projected to be 5.2 trillion won ($4.63 billion) instead of 7.8 trillion won in the three months ended September, the ...