March, 2016

• 21 March

  Mexico keeps rate steady as peso strengthens and Fed holds

  

  Bloomberg Mexico kept its overnight interest rate unchanged after the peso’s rebound from a record low eased inflation pressures and the Federal Reserve left borrowing costs on hold. Banco de Mexico’s Governor Agustin Carstens, held the overnight rate at 3.75 percent. The central bank said it will pay special attention to the exchange rate and its possible pass-through to consumer ...

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• 21 March

  Brazil biz world bets on Rousseff exit

  

  Rio De Janeiro / AFP The Federation of Sao Paulo Industries is lit up in the green and yellow of the Brazilian flag, a giant black banner cutting across its facade with a blunt message: “Resign now.” The powerful industry group is not the only major player in the Brazilian economy that is openly hostile to embattled President Dilma Rousseff. ...

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• 21 March

  US tourists seek preserved Cuba — and Cubans seek change

  

  havana / AFP American Sue Pemberton rushed to Havana to experience authentic Cuba before the communist island gets swamped by capitalism. The only problem: millions of other foreigners had exactly the same idea. Already booming tourism is set to explode in the wake of President Barack Obama’s visit to Havana on Sunday, when he’ll bury an almost six decades-long conflict ...

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• 21 March

  EMEA buyers to invest more in real estate in the current year

  

  Emirates Business Real estate investors across the Europe, Middle East and Africa (EMEA) region intend to be very active in 2016. According to CBRE’s 2016 EMEA Investor Intentions Survey almost half (48 per cent) of all surveyed expect their purchasing activity to be higher than last year, compared with just 15 per cent who expect to be less active buyers. ...

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• 21 March

  Rotana expands in GCC with Downtown Rotana in Manama

  

  Abu Dhabi / Emirates Business Rotana , one of the leading hotel management companies in the Middle East, Africa, South Asia and Eastern Europe, has launched its newest property in Bahrain – the five-star hotel Downtown Rotana , which was inaugurated by H.E. Zayed R. Al Zayani, Bahrain’s Minister of Industry, Commerce and Tourism on Sunday. Rising amidst the traditional ...

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• 21 March

  KSA investors hit as realty slumps in Lebanon

  

  Riyadh / Emirates Business The real estate market in Lebanon is among the sectors that have been adversely affected by the political crisis between that country and the Kingdom, and Saudi investors are among those feeling the heat. The losses due to the slowdown in the Lebanese real estate sector, especially due to the travel alert issued by Gulf Cooperation ...

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• 21 March

  Wanna gamble on property market for megarich? Consider Marnier

  

  Bloomberg Buying one share of Grand Marnier Group will get you 8,050 euros in cash when the company is acquired by Davide Campari Campari-Milano SpA — and a chance to roll the dice on what may be one of the biggest residential real estate deals of all time. Shares of Grand Marnier resumed trading after the French company agreed to ...

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• 21 March

  Zalando aims for $11bn in sales by seeking tech edge

  

  Bloomberg Zalando SE, Europe’s biggest online fashion retailer, is making investments to set its service apart from competitors, including a potential tie-up with smartphone car service Uber Technologies Inc. The German e-commerce player is trying to gain market share and boost profitability by building new systems that can make it easier for brands such as Adidas AG or Nike Inc. ...

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• 21 March

  Vermont brings food industry to its knees over GMO labels

  

  MONTPELIER / AP General Mills’ announcement that it will start labeling products that contain genetically modified ingredients to comply with a Vermont law shows food retail companies might be throwing in the towel, even as they hold out hope Congress will find a national solution. Tiny Vermont is the first state to require such labeling, effective July 1. Its fellow ...

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• 21 March

  Ousted Fastjet CEO says currency slide to blame for Africa woes

  Bloomberg Fastjet Plc Chief Executive Officer Ed Winter, who is poised to leave the African discount airline after clashing with investor Stelios Haji-Ioannou over mounting losses, said he still thinks the continent is on the cusp of a transformation into a viable aviation market. Without an unexpected slump in currencies spanning the South African rand to the Kenyan schilling, Fastjet ...

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