December, 2019

• 7 December

  ECB rate cuts seen as done with Lagarde’s review in spotlight

  

  Bloomberg The European Central Bank is done with cutting interest rates despite persistent downside risks to growth, according to a Bloomberg survey of economists. With officials increasingly concerned about the impact of negative rates and President Christine Lagarde about to announce a strategic review, most respondents said monetary policy is on autopilot for the next two years. That’s a turnaround ...

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• 7 December

  Saab wants control if it wins $15bn India jet-fighter deal

  

  Bloomberg Saab AB wants control of local manufacturing in India if it beats the likes of Boeing Co. and Lockheed Martin Corp. in the race for the world’s biggest warplane contract. The Swedish manufacturer is in the running to supply 114 Gripen fighters in a deal valued at more than $15 billion as Prime Minister Narendra Modi seeks to modernise ...

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• 7 December

  Emirates to serve 500,000 Christmas meals at 40,000 feet

  

  Dubai / Emirates Business The festive spirit is in full swing as Emirates prepares to serve 500,000 Christmas meals across all classes to customers travelling on select flights from December 9 to 31. In addition to a delicious festive menu, travellers can also enjoy nostalgic films and holiday treats across all cabin classes on board and on the ground. Emirates ...

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• 7 December

  Corporate South Africa loses faith in national airline

  

  Bloomberg Speculation that South African Airways (SAA) is in danger of going under could become self-fulfilling. The national carrier has been given 57 billion rand ($3.9 billion) in bailouts since 1994 and last made a profit in 2011. The company’s already precarious finances took another hit last month when workers staged a week-long strike that grounded a number of flights, ...

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• 7 December

  Hudson’s Bay rejects $1.5b bid from Catalyst

  

  Bloomberg A special committee at Hudson’s Bay Co. rejected an offer by private-equity firm Catalyst Capital Group Inc. that values the Canadian retailer at more than $1.5 billion, giving the upper hand to a lower bid by the company’s chairman. The offer by Catalyst is “not reasonably capable of being consummated,” the committee said in a statement. Catalyst’s proposal of ...

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• 7 December

  Philippine noodle maker mulls stake sale in UK’s Quorn foods

  

  Bloomberg Philippine food maker Monde Nissin Corp. is weighing options including a potential minority stake sale for Quorn Foods, a British producer of meat substitutes, people with knowledge of the matter said. Monde Nissin, which makes the best-selling “Lucky Me!” instant noodles in the Philippines, is working with an adviser to look for an equity investor in Quorn, said the ...

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• 7 December

  United Airlines names Scott Kirby as CEO

  Bloomberg United Airlines Chief Executive Officer Oscar Munoz will hand the reins to President Scott Kirby next year, capping a tenure in which he turned around the perennial laggard. Kirby will take over as CEO in May while Munoz becomes the executive chairman, the carrier said in a statement. Kirby joined United in 2016 after leaving American Airlines Group Inc. ...

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• 4 December

  UAE holds distinguished place in humanitarian field globally

  ABU DHABI / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), highlighted the distinguished position the UAE occupies in the field of humanitarian efforts regionally and internationally thanks to the efforts of Emirati volunteers. The UAE, under the leadership of President His Highness Sheikh Khalifa bin ...

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• 4 December

  Opec, allies send mixed signals about deeper oil-output cuts

  

  Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies sent mixed signals about whether they were considering deeper production cuts, fanning oil-market speculation before crucial talks in Vienna this week. Iraq, which has the worst record among major producers of implementing the group’s current supply deal, pushed for steeper cutbacks. Oil Minister Thamir Ghadhban said the group should ...

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• 4 December

  26th World Islamic Banking Conference opens in Bahrain

  Emirates Business The 26th edition of the World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and finance leaders in the world, kicked off at The Gulf Hotel Bahrain, in the Kingdom of Bahrain on Wednesday. The forum is spurring a series of discussions focusing on “mega trends in banking and finance”, a theme that ...

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