February, 2022

• 16 February

  ShopBack seeks $150m for expansion

    Bloomberg ShopBack, an online shopping rewards app backed by Temasek Holdings, is in talks with potential investors to raise $150 million to help finance its expansion, according to people with knowledge of the matter. The Singapore-based startup is working with Morgan Stanley on the funding round, which is expected to value the company at about $1 billion, the people …

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• 16 February

  Stocks climb on prospect of easing Ukraine tension

  

    Bloomberg Stocks rise on Wednesday as traders weighed the prospect of diminishing tension over Ukraine and the risk of further twists after Russia said it was withdrawing some forces. Shares were up in Japan, Hong Kong and China, where slowing inflation is boosting the central bank’s scope to ease policy to prop up growth. US futures were stable and …

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• 16 February

  Bond buyer strike in Japan gives yield curve a powerful jolt

  

    Bloomberg Japan’s sovereign yield curve has been jolted into life as a buyer’s strike and dovish central bank triggers a sharp steepening — setting the market aside from global peers. The move looks set to continue as the big institutions that dominate purchases of super-long maturities stick to the sidelines, hurt by the recent turmoil in global stocks and …

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• 16 February

  Amanat records profit of AED280.8mn in ’21

  

    Dubai / WAM Amanat Holdings, one of the GCC’s healthcare and education investment company, has announced record financial results for the year ended December 31, 2021, with a total income of AED367.0 million, a significant five-fold increase on the AED70.6 million recorded last year. Strong total income growth translated through to Amanat’s bottom-line, with the company reporting a record …

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• 16 February

  SpiceJet returns to profit after seven coronavirus-hit quarters

  

    Bloomberg SpiceJet Ltd delivered on its chairman’s word and posted a surprise profit after making losses for seven straight quarters as ebbing Covid-19 cases paved the way for a relaxation in movement curbs and boosted domestic air travel. India’s third-largest budget airline posted a net income of 232.8 million rupees ($3.1 million) in the three months ended on December …

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• 16 February

  US’s Joby, ANA team up to bring flying taxis to Japan

  

    Bloomberg Flying from Japan’s Osaka station to Kansai International Airport could take just 15 minutes based on plans laid out by flying-taxi startup Joby Aviation Inc. and the country’s biggest airline. Joby and ANA Holdings Inc will work together to bring aerial ridesharing to Japan for the first time, according to a statement. Toyota Motor Corp will join the …

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• 16 February

  Boeing is converting even more aircraft into cargo freighters

  

    Bloomberg Boeing Co, which has almost doubled its capacity to turn passenger jets into freighters since the pandemic began, is considering adding even more as demand for air cargo extends into 2022. “There could be additional lines in the Asia region,” Ted Colbert, head of Boeing’s global services division, said during an interview with Bloomberg at the Singapore Airshow …

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• 16 February

  Airline plans new squeeze on legroom with more seats

  

    Bloomberg A Philippine airline that holds the record for cramming the most seats into a plane is set to do it again with a new Airbus SE jet. Cebu Air Inc, the biggest carrier in the Southeast Asian nation, plans to configure its newest and upcoming A321 XLR aircraft with the highest seat-density possible, doubling down on a strategy …

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• 16 February

  Levi brand boss exits after dispute

    Bloomberg A top Levi Strauss & Co executive said she left the denim maker after more than two decades because her outspoken opposition to Covid-19 policies in schools created a fraught work environment for her. Jennifer Sey, who was the company’s global brand president, said she passed up a $1 million severance package that would have come with a …

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• 15 February

  Speculation for BOK successor grows along with inflation risk

  

    Bloomberg Bank of Korea (BOK) officials past and present, presidential advisers and global representatives are among potential successors to central bank Governor Lee Ju-yeol, whose impending departure is fuelling speculation over a replacement at a time of elevated inflation. Lee’s successor will inherit rapidly normalising monetary policy after two years of extraordinary stimulus to prop up a pandemic-hit economy. …

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