March, 2016

• 27 March

  Chiba Bank to tie up with Musashino, stop short of merger

  

  Bloomberg Chiba Bank Ltd. is forming an alliance with Musashino Bank Ltd. in what could herald a new way for Japanese regional lenders to cope with industry headwinds without resorting to merging. The banks, based in prefectures that border with Tokyo, will acquire shares in each other, they said in statements. While the amount and timing are yet to be ...

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• 27 March

  BPI Angolan shareholder hopes to resume talks with CaixaBank soon

  

  LISBON / Reuters Santoro Finance, a holding company of Angolan investor Isabel dos Santos, is baffled by CaixaBank breaking off talks on a nearly ready deal for the Spanish bank to buy dos Santos’s stake in Portuguese lender BPI and hopes to resume negotiations soon. “It’s hard to understand what has happened after the sides have reached understanding on key ...

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• 27 March

  China’s yuan to face pressure if dollar rises sharply: PBOC

  

  BOAO / Reuters China’s yuan will come under renewed downward pressure if the US dollar rises significantly in coming months, a policy adviser to the People’s Bank of China (PBOC) said. Huang Yiping, a professor at Peking University and a member of the central bank’s monetary policy committee, also said the central bank was managing the yuan against a basket ...

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• 27 March

  Bangladesh asks Reserve Fed to help retrieve cash

  

  REUTERS The new governor of Bangladesh’s central bank has sent formal letters to the New York Reserve Fed, as well as central bank, and money laundering chiefs in the Philippines, asking them to help recover its stolen $81 million, a senior central bank official said on Sunday. The news came as Finance Minister Abul Maal Abdul Muhith said the government ...

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• 27 March

  British consumers defy weak economy outlook

  

  LONDON / Reuters British consumers are still driving the country’s recovery despite a gloomier outlook for the economy and the approach of the European Union membership referendum, figures showed. Official data showed retail sales fell more gently than expected in February after a bumper January. A separate survey by the Confederation of British Industry (CBI) showed sales volumes fell slightly ...

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• 27 March

  Oman to increase air traffic fees in state revenue push

  

  MUSCAT / Reuters Oman’s Public Authority for Civil Aviation (PACA) will raise fees charged for air traffic through the sultanate, the authority’s chief executive Mohammed al-Zaabi told the official Oman News Agency. The decision is part of a series of steps by Oman to strengthen state finances as it grapples with a big budget deficit caused by low oil prices. ...

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• 27 March

  Airbus unveils new cabin brand, adding more seats to planes

  

  Bloomberg European planemaker Airbus has unveiled a new cabin brand designed to help cost-conscious airlines carry more passengers on long-haul flights while avoiding additional discomfort. The move reflects the rivalry between major planemakers to jazz up interiors and give airlines more flexibility on cabins as the industry struggles to capture more traffic without angering passengers. Airbus said the “Airspace by ...

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• 27 March

  Accessories give huge push to Versace revenues

  

  Rome / Reuters Italy’s luxury fashion house Versace said that its revenues in 2015 grew 17.5 percent, thanks largely to sales of its accessories and its cheekier second line, Versus. While the brand’s revenues grew by 645 million euros ($720 million), its retail sales were 28.9 percent higher at 400.7 million euros and income from e-commerce was up 31.2 percent. ...

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• 27 March

  Virgin America tests sale flight path as headwinds loom

  Bloomberg Virgin America’s IPO was opportune. Selling now would continue that streak of good timing. The $1.5 billion US airline backed by billionaire Richard Branson is working with an adviser to evaluate a full or partial sale after receiving takeover interest. It would be a quick turnaround for a company that went public less than 18 months ago. Virgin soared ...

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• 27 March

  Promoting healthy lifestyle

  

  Sunaina Rana / EMIRATES BUSINESS Aiming to make a foothold in the UAE juice market, Juice in Time is an original and innovative juicing system that originated in Brazil, which helps to make natural fruit juices in offices, cafeterias or at home without a blender, sink, dishes or running water. The Juice in Time system is a hassle-free solution that ...

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