March, 2023

• 3 March

  HSBC, Nationwide ramp up cryptoassets limits

  

  BLOOMBERG Nationwide Building Society and HSBC Holdings Plc toughened limits on retail customers’ access to cryptoassets, becoming the latest UK banks to impose curbs after industry scandals and regulatory warnings. Nationwide is applying daily limits of £5,000 ($5,965) on debit-card purchases of cryptoassets, the building society informed customers, while its credit cards can no longer be used to buy crypto. ...

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• 3 March

  TD gets revenue lift as rising rates help US, Canada margins

  

  BLOOMBERG Toronto-Dominion (TD) Bank’s focus on retail banking in Canada and the US paid off last quarter as rising interest rates made lending to consumers more profitable. Still, concerns about its loan-loss provisions and delays to a major deal weighed on the stock. The bank’s US business saw its net interest margin — the difference between what it earns on ...

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• 3 March

  Adnoc Gas sets offer price for its IPO at AED2.37 per share

  

  ABU DHABI / WAM Adnoc Gas on Friday announced the final offer price for the shares offered by Abu Dhabi National Oil Company (Adnoc or the selling shareholder) in connection with Adnoc Gas’s initial public offering (IPO or offering) and listing on the ADX, following the successful conclusion of the bookbuild and public subscription process. The final offer price for ...

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• 3 March

  MoHAP hosts WHO’s regional expert meeting on healthy diet policies

  

  DUBAI / WAM The Ministry of Health and Prevention (MoHAP) hosted a regional expert meeting on healthy diet policies in Dubai. The event, which was hosted by the World Health Organisation (WHO) Regional Office for the Eastern Mediterranean, aimed to discuss recent developments in the field of healthy diet policies at the regional level, with a special emphasis on the ...

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• 3 March

  Emirates, Philippine Airlines announce interline agreement

  

  DUBAI / WAM Emirates and Philippine Airlines (PAL) have signed an interline agreement to boost connectivity for passengers of both air carriers to new points on each other’s networks via Manila and Dubai, using a single ticket and one baggage policy. Now in effect, the reciprocal interline partnership provides Emirates’ passengers access to 19 Philippine domestic destinations operated by Philippine ...

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• 3 March

  Dewa’s device positions geographical areas with high accuracy

  

  DUBAI / WAM Dubai Electricity and Water Authority’s (Dewa) Research and Development Centre has obtained its eighth patent for a cutting-edge device that leverages advanced sensors to locate and survey geographical areas. The device employs real-time kinematic (RTK) processing techniques to process data collected on-site and works with a smart device developed by the R&D Centre, which uses a smart ...

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• 3 March

  Delta pilots get 34% raise over 4 years with new contract

  

  BLOOMBERG Delta Air Lines Inc pilots approved a new contract that will provide at least 34% in cumulative pay hikes over four years, making them the first aviators at a major US carrier to finalise a post-pandemic deal. The agreement was endorsed by 78% of those casting ballots, the Air Line Pilots Association said in a statement. A separate agreement ...

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• 3 March

  India in talks with Embraer, Russia’s Sukhoi to make small planes locally

  

  BLOOMBERG India is looking to partner with global aircraft manufacturers, including Embraer SA and Russia’s Sukhoi, to make small planes locally as it seeks to improve connectivity in tiny towns and far-flung areas, according to people familiar with the matter. The government will keep 51% equity with an Indian company, while asking the foreign partner to do technology transfer, the ...

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• 3 March

  Qantas plans to hire 8,500 workers over next decade

  

  BLOOMBERG Qantas Airways Ltd plans to hire 8,500 more workers in the next decade, about the same number it cut during the pandemic, underscoring aviation’s growth trajectory less than a year after the crisis. The additional roles include pilots, cabin crew and airport staff. With potentially more than 300 new aircraft arriving in the next 10 years, Qantas also plans ...

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• 3 March

  American Airlines goes all-in on its $15b debt-cutting plan

  

  BLOOMBERG The new chief financial officer of American Airlines Group Inc has a message for skeptical voices in the credit community as the company seeks to secure a ratings upgrade: The $15 billion debt-cutting plan is on track. After spending around $24 billion to upgrade its fleet in the run-up to the pandemic, following a bankruptcy and the merger with ...

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