September, 2018

• 1 September

  Italy could be shut out of ECB’s control room after Draghi era

  

  Bloomberg Italy could soon find itself excluded from the heart of euro-area monetary policy for the first time in the currency’s two-decade history. European Central Bank President Mario Draghi’s eight-year term ends in October 2019 and his country has no automatic path to a seat on the Executive Board after that. Instead, its populist leaders must negotiate with the same …

  Read More »
• 1 September

  Yes Bank plunges as India defers 3-year extension for CEO

  

  Bloomberg Shares of India’s Yes Bank Ltd. plunged after the central bank deferred approving another three-year term for Chief Executive Officer Rana Kapoor, while allowing him helm the bank for the time being. Kapoor has received the RBI’s approval to continue as managing director and CEO of the Mumbai-based lender until “further notice” from the regulator, Yes Bank said in …

  Read More »
• 1 September

  StanChart’s Winters wants to ‘take a look’ at Ethiopia banking

  

  Bloomberg One emerging market has so far eluded Standard Chartered Plc Chief Executive Officer Bill Winters: Ethiopia. Winters, head of London-based Standard Chartered since mid-2015, would “love to think that there are opportunities” in Ethiopia, he said in an interview in Nairobi, Kenya. The problem is that it’s entirely closed to foreign banks. “The underlying fundamentals are pretty interesting,” said …

  Read More »
• 1 September

  Banks worry ideology trumping economic needs in South Africa

  

  Bloomberg Banks are worried that South Africa is taking a wrong turn with laws being considered by the nation’s parliament that could leave the economy worse off. “They do not seem to be the legislative underpinning of a comprehensive, implementable national economic recovery plan,” the Banking Association of South Africa (BASA) said in a statement distributed in Johannesburg. “Rather they …

  Read More »
• 1 September

  Indian bank quits Antwerp diamond hub in blow for gem financing

  

  Bloomberg Union Bank of India is pulling out of the global diamond hub of Antwerp, joining a retreat of lenders from the industry, which has been hit by fraud and bad debt. The bank has given notice that it will close its branch in the Belgian port city within a year, according to Chief Executive Officer Rajkiran Rai Gundyadka. Antwerp …

  Read More »
• 1 September

  Toyota doubles down on self-driving cars

  

  Bloomberg Toyota Motor Corp. is investing $500 million more in Uber Technologies Inc., underscoring the Japanese automaker’s efforts to catch up on self-driving technology as General Motors Co. and Alphabet Inc.’s Waymo lead the race to upend the industry. As part of the accord announced recently, Toyota plans to manufacture Sienna minivans loaded with Uber’s software, with testing slated to …

  Read More »
• 1 September

  DJI’s Phantom drones may be blocked from US in trade spat

  

  Bloomberg The world’s biggest maker of civilian drones could see its products shut out of the US market after a patent-infringement complaint was filed by smaller rival. SZ DJI Technology Co., a manufacturer of popular hobbyist and commercial drones including the Phantom and Mavic series, is being challenged by Autel Robotics Co. The dispute is over unmanned vehicles used for …

  Read More »
• 1 September

  LG focusses on gaming at IFA with new UltraGear monitors

  

  DUBAI / Emirates Business LG Electronics is demonstrating its commitment to gaming technology with the announcement of its new UltraGear monitors at IFA 2018 in Berlin this week. The monitors take immersion to a new level thanks to their powerful performance, superb picture quality and speedy refresh rate. These factors combine with the UltraWide 21:9 screen and stylish design to …

  Read More »
• 1 September

  Kenya Airways to hire pilots as fleet expands, says CEO

  

  Bloomberg Kenya Airways (KQ) Plc may hire as many as 100 pilots annually as the company grows its fleet and adds as many as 20 new routes in the next five years, Chief Executive Officer Sebastian Mikosz said. Sub-Saharan Africa’s third-largest carrier is facing “significant operational challenges” and needs as many as 70 additional first officers and 50 captains to …

  Read More »
• 1 September

  HNA stake in Virgin Australia attracts new bidder interest

  

  Bloomberg HNA Group Co.’s minority stake in airline Virgin Australia Holdings Ltd. is drawing interest from potential bidders as the Chinese conglomerate offloads non-core assets to reduce debt, according to people familiar with the matter. The approximately 20 percent stake could attract bids from existing shareholders in the company as well as other airlines and investment funds if HNA decides …

  Read More »