December, 2019

• 28 December

  Pound’s rally could hit a roadblock

  

  Bloomberg The pound is set for a yearly gain against the dollar, but it may struggle to take off further in the first quarter of 2020. Sterling has recovered almost 10% since hitting an almost three-year low in September, after Prime Minister Boris Johnson’s snap election in December lifted political deadlock in Westminster. The re-elected government’s solid majority should help ...

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• 28 December

  RBI warns of reversal in India’s bad-loan clean up

  

  Bloomberg India’s financial regulator predicted that an improvement in banks’ bad-loan ratios will reverse, as a slowing economy hurts borrowers’ ability to repay. In its latest Financial Stability Report, the Reserve Bank of India said soured debt at Indian lenders will rise to 9.9% of total credit by September 2020, after dropping the most in 15 years to 9.3% a ...

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• 28 December

  US banks rally as holiday shopping signals consumer cheer

  

  Bloomberg The biggest US banks, including bellwethers JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc, gained as a hearty US consumer continued to signal good news for lenders. BofA rose as much as 1% to the highest since October 2008 and Citi climbed as much as 1.5% to the highest since January 2018. Other top preformers included ...

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• 28 December

  India bonds rally as RBI surprises with pace of purchases

  Bloomberg Benchmark sovereign bonds gained in India after the central bank said it will buy long-end debt for a second week, stepping up the pace of its unconventional policy to lower borrowing costs. The 10-year yield slid 8 basis points to 6.51% at the close, taking the week’s drop to 10 basis points. It touched a three-week low of 6.49% ...

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• 28 December

  Boeing shares ‘very disturbing’ messages on 737 Max with FAA

  

  Bloomberg A new batch of messages between Boeing Co. employees on the development of the 737 Max paints a “very disturbing picture” of concerns about the plane, according to an aide to a House committee. The documents were turned over to Federal Aviation Administration (FAA), the agency said in a statement. The disclosure came the same day that Boeing ousted ...

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• 28 December

  Kazakhstan grounds Bek Air planes after crash kills atleast 12

  

  Bloomberg At least a dozen people died after a plane crashed shortly after takeoff in southeastern Kazakhstan, leading local authorities to ground the rest of budget carrier Bek Air’s fleet. The twin-turbofan Fokker 100 aircraft was carrying 98 people including five crew members, Kazakh Deputy Prime Minister Roman Sklyar said at a news conference in the former capital Almaty. Another ...

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• 28 December

  Airbus partly blamed by India’s Go Airlines for flight turmoil

  

  Bloomberg Go Airlines India Ltd. said delays by Airbus SE in delivering new A320neo jets were partly to blame for flight turmoil, adding to evidence the European planemaker may be struggling to meet production targets. GoAir “experienced delivery delays during the month of November and December, adding to its operational challenges,” it said in an emailed statement. The budget carrier ...

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• 28 December

  China launches Long March 5 rocket as space race heats up

  

  Bloomberg China launched a Long March 5 rocket from the island province of Hainan, a key step in its ambitions to reach Mars and cement its place as a major power in space exploration. The country’s largest carrier rocket, with a diameter of 5 meters (16 feet), blasted off from Wenchang Satellite Launch Center at 8:45 pm local time and ...

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• 28 December

  Boeing’s key 737 Max adviser to retire

  Bloomberg Boeing Co. said another high-ranking executive working on the company’s response to the 737 Max crisis will step down. Michael Luttig, 65, will retire at year-end, Boeing said in a statement, three days after the planemaker announced the departure of Dennis Muilenburg as chief executive officer. Luttig, the company’s former general counsel, was reassigned in May to advise Muilenburg ...

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• 25 December

  Sheikh Mohammed approves consumer protection law

  

  Abu Dhabi / WAM The UAE Cabinet chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the issuing of a Federal Law on Consumer Protection which comes in light of the government endeavours to achieve the continuous development of the legislation that affects the lives of ...

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