January, 2020

• 25 January

  All Emiratis in Houston safe: UAE consulate

  ABU DHABI / WAM The UAE Consulate in Houston has confirmed that all Emiratis in Houston are safe following the explosion that occurred in a factory in the city, advising all UAE citizens in Houston to register for the online “My Presence” service via the Ministry of Foreign Affairs’ website or its smart application and to communicate with the consulate …

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• 25 January

  Mubadala signs agreement for power complex in Uzbekistan

  

  TASHKENT / WAM In the presence of Sardor Umurzakov, the Uzbekistan Minister of Investments and Foreign Trade, an implementation agreement was signed at a ceremony in Tashkent, Uzbekistan, by the Ministry of Investment and Foreign Trade, and JSC Thermal Power Plants of the Republic of Uzbekistan (JSC), and Mubadala Investment Company (Mubadala). The agreement establishes a roadmap for the future …

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• 25 January

  Boeing mulls another cut to 787 output

  Bloomberg Boeing Co. is considering another cut to production of its marquee 787 Dreamliner as the aerospace giant contends with sluggish demand. Executives are studying whether to trim monthly output by two planes to 10 a month from a reduced pace that was announced in October. While no final decision has been made, a new production schedule for the twin-aisle …

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• 25 January

  Lagarde warns markets not to assume policy on autopilot

  

  Bloomberg European Central Bank (ECB) president Christine Lagarde warned investors not to assume that current monetary policy is locked in for the foreseeable future just because officials are focused on reviewing their strategy. “To those who think it’s on autopilot, that’s ridiculous,” she said in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland. “Let’s look at …

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• 25 January

  AmEx gets reprieve after JPMorgan hikes Sapphire Reserve fee

  

  Bloomberg American Express Co has high hopes for 2020, predicting earnings that surpassed many analysts’ expectations and prospects for “more rational” competition from its biggest rivals. After sweetening the bonuses on some of its most popular products, including the Green card, AmEx said overall rewards costs climbed 8% to $2.72 billion during the fourth quarter. That was less than the …

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• 25 January

  Nigeria tightens screws on banks

  

  Bloomberg Nigeria turned the screws even tighter on lenders by increasing the amount of money they need to park with the central bank for the first time in almost four years in an effort to tame inflation. The West African nation’s central bank raised the cash-reserve requirement for lenders to 27.5% of total deposits, from 22.5%, to curtail excess liquidity …

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• 25 January

  Deutsche Bank buys more debt of Altico

  

  Bloomberg Deutsche Bank AG and a Singapore based hedge fund bought more debt of an embattled Indian shadow lender, highlighting the growing foreign interest in the discounted assets of the financier at the center of a credit crisis. Deutsche Bank has almost doubled the debt it holds of Altico Capital India Ltd to 3 billion rupees ($42.1 million) in the …

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• 25 January

  Davos digital-payments rift pits FB against central banks

  

  Bloomberg A rift among the global elite over the future of digital payments was on display during a panel discussion at the World Economic Forum’s annual meeting in Davos, Switzerland. At stake is the potential overhaul of the global financial system that could see companies like Facebook Inc pitted against the world’s central banks in the race to develop a …

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• 25 January

  Swiss bank ex-CEO sanctioned for insider trading

  Bloomberg A Swiss bank’s former chief executive officer has been sanctioned by the country’s financial regulator for insider trading in his wife’s name and what Finma called other “serious breaches of supervisory law.” The man executed the trades using his wife’s account at other lenders for several years, violating his bank’s internal directives, Finma said. The identities of the bank …

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• 25 January

  Mercedes mulls more hybrids at AMG unit

  

  Mercedes-Benz is considering adding more plug-in hybrids to its AMG performance-car lineup, as the world’s top-selling luxury carmaker seeks to balance consumer demand for roaring combustion power with government pressure to meet stricter emission rules. Fleet customers of Daimler AG’s main brand have responded well to a growing list of hybrid models for sale, ranging from compacts to full-size vehicles, …

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