January, 2018

• 29 January

  Saudi foreign reserves rise for third straight month

  DUBAI / Reuters The Saudi Arabian central bank’s foreign reserves rose in December for a third consecutive month, a sign that higher oil prices may be easing pressure on the government’s finances, official data showed. The bank’s net foreign assets grew $2.0 billion from November to $488.9 billion last month, after increasing $1.0 billion in November and $8.3 billion in …

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• 29 January

  Deutsche Bank could find silver lining despite Basel capital hit

  

  Bloomberg Deutsche Bank AG’s big hit from stricter global capital standards may be softened by the small print. New rules give supervisors the option to exclude banks’ litigation payouts when calculating their so-called operational risk. If that happens, it would be a boon for Deutsche Bank and potentially improve returns for shareholders. The bank declined to comment specifically on the …

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• 29 January

  United head’s plan may spur lower airfares

  

  Bloomberg Scott Kirby has a very specific view about how the three US hub-and-spoke airlines work best, having managed two of them. In his current job as president of United Airlines, Kirby’s role is to oversee a major overhaul of how the carrier operates, beginning with a broad restructuring of its three domestic-focussed hubs in Chicago, Denver and Houston. By …

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• 29 January

  Singapore Air taps workers for ideas to boost efficiency

  

  Bloomberg Singapore Airlines Ltd., the premium carrier that’s undergoing a business revamp to fend off competition from Gulf airlines and budget operators, is turning to its employees for ideas. Southeast Asia’s biggest carrier is setting up a lab and encouraging workers across its group—including SilkAir and Scoot—to submit proposals that would help boost efficiency in its operations, Chief Executive Officer …

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• 29 January

  Immediate liquidity needs addressed: Steinhoff

  Bloomberg Steinhoff International Holdings NV said it has secured enough money to keep its businesses running in the immediate term and can now start talks with a broader group of creditors. The troubled South African retail group has arranged new credit lines for units in the UK, US and France as well as agreeing a restructuring of its Austrian division, …

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• 29 January

  JD enlists Tencent as it preps to take on Amazon in US

  

  Bloomberg JD.com Inc. is preparing to make its US debut with a beachhead in Los Angeles, seeking to best arch-rival Alibaba and challenge Amazon.com Inc. on its home turf. The $68 billion company, which said in December 2017 it’ll start online sales in the US by the second half of 2018, is now seeking funds to bankroll a logistics build-up …

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• 28 January

  Bodour Al Qasimi: Entrepreneurs lead digital future of Arab World

  

  DAVOS / WAM Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Middle East and North Africa Regional Business Council (MENA-RBC) has taken part in a panel discussion titled ‘Going Digital in the Arab World’, highlighting innovative approaches and landmark initiatives being implemented by the UAE and other Arab countries to harness the benefits of the Fourth Industrial Revolution. The …

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• 28 January

  Bond traders’ wild ride in 2018 about to kick into overdrive

  

  Bloomberg You’ve traded on inflation data and the prospect of rising sovereign-debt supply. You’ve wagered on Federal Reserve meetings and what the next chairman might do. And you’ve bet on jobs and wage growth that exceed or miss targets. Now try doing it all in one week. With yields threatening to leap higher, bond traders will grapple this week with …

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• 28 January

  Hong Kong wipes out 2,000% stock gains with IPO clampdown

  

  Bloomberg The world’s most volatile new stocks are vanishing from Hong Kong after regulators tightened oversight of the city’s small-cap Growth Enterprise Market. Stocks debuting on GEM in the past 12 months rose an average 23 percent on their first day of trading, down from an eye-popping 605 percent for the year through January 2017, according to data compiled by …

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• 28 January

  Aramco CEO: Post-IPO tax burden will link to oil prices

  

  Bloomberg Saudi Aramco’s chief executive said the most important tax paid by the state-owned energy giant will fluctuate with the price of oil, a significant move ahead of the company’s initial public offering this year. Adjusting the 20 percent royalty on oil revenue Aramco currently pays would help the kingdom to raise extra money if prices climb. While not unusual …

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