September, 2018

• 26 September

  Morgan Stanley plans lifting ranks of its women leaders

  

  Bloomberg Morgan Stanley’s highest ranking women are flying to New York this week from around the world to solve a gnawing problem: There aren’t enough of them. The bank, looking to support the advancement of women to its top echelons, is hosting a summit in Manhattan on Wednesday and on Thursday for about 350 who are already managing directors at …

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• 25 September

  11,000 Yemeni families benefit from UAE aid

  

  HADRAMAUT / WAM The Emirates Red Crescent (ERC), continues to provide relief aid to eligible households in Al-Reida and Qusayr districts of the Hadramaut governorate. Teams from the UAE’s premier aid arm have recently distributed 1,000 food baskets containing basic necessities to some 5,000 individuals in Qusayr. Since the beginning of 2018, marked as the ‘Year of Zayed’, more than …

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• 25 September

  India, Pakistan feud costs $35 billion in annual trade

  

  Bloomberg India and Pakistan’s bitter rivalry is costing them $35 billion worth of annual trade, the World Bank said in a report. Someone might want to tell the two countries’ leaders — both of whom want to boost trade to battle widespread poverty. The World Bank called for South Asia, the world’s least economically-integrated region, to start cooperating instead of …

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• 25 September

  Deepwater oil rigs on brink of recovery after years in doldrums

  

  Bloomberg Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a bigger chance it will actually happen, according to analysts at Credit Suisse Group AG and Morgan Stanley. Some of the world’s biggest owners of rigs that drill oil wells in more …

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• 25 September

  Oman’s Renaissance mulls $1.5bn Topaz Energy IPO

  Bloomberg Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalisation of about $379 million, could seek a valuation of about $1.5 billion for the Dubai-based business, the people said. Goldman …

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• 25 September

  US stocks mixed as Trump warns China on trade

  

  Bloomberg US stocks were mixed after President Donald Trump said China is taking advantage of the US on trade while oil producers rallied on stronger crude prices. Treasuries fell as the Federal Reserve started its two-day policy meeting. US benchmarks briefly fell to their lows of the day as Trump told the United Nations that the US trade deficit with …

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• 25 September

  Oil nears 4-year high

  

  Bloomberg Crude approached a four-year high after OPEC signaled it may not replace Iranian oil that’s disappearing from global markets as US sanctions loom. Futures rose as much as 1.7 percent in London on Tuesday. OPEC shrugged off the threat to Iranian supplies over the weekend, spurring some of the world’s most-sophisticated traders to forecast a return to $100-a-barrel oil. …

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• 25 September

  Praet snaps Draghi’s inflation comments; euro whipsaws

  

  Bloomberg European Central Bank policy maker Peter Praet said he doesn’t believe President Mario Draghi intended to send a new signal when he said the pickup in underlying euro-area inflation is “relatively vigorous.” The euro slid after Praet, the ECB’s chief economist, made the remarks in London on Tuesday. The single currency jumped the previous day when Draghi spoke at …

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• 25 September

  Danske Bank faces more penalties from regulator

  

  Bloomberg Danske Bank A/S faces more penalties from the financial regulator as multiple probes into one of Europe’s biggest money laundering scandals get under way, according to Denmark’s government. The Danish Financial Supervisory Authority already forced Danske to add almost $800 million to its capital burden back in May, in response to earlier signs of laundering breaches. Business Minister Rasmus …

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• 25 September

  Deutsche Bank CEO opens door to deals

  

  Bloomberg Deutsche Bank AG is open to a merger once the lender has boosted its profitability over the next 18 months, Chief Executive Officer Christian Sewing said. “We have a very clear plan to remain a global bank, but we have to work on profitability now,” Sewing said at an event in Berlin. “If that happens, we can talk about …

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