October, 2019

• 16 October

  Citi calls for consistency in African banking

  

  Bloomberg Citigroup is calling for greater consistency in implementing regulations for the banking industry Africa and warned frequent changes will harm the sector. The bank’s business was one of 12 lenders Nigeria’s central bank penalised last month for failing to meet credit-provision targets. Citigroup was handed a 100.7 billion naira ($279 million) penalty out of a combined sanction of 500 ...

  Read More »
• 16 October

  Ant Financial seeks loan up to $3.5bn at low rate

  

  Bloomberg Ant Financial Services Group is seeking a syndicated loan of up to $3.5 billion at a lower rate, joining other Chinese technology giants in their bid to slash debt costs. The company is in talks with lenders for a $2.5 billion financing that comes with a $1 billion greenshoe option, according to people familiar with the matter. The price ...

  Read More »
• 16 October

  China trading ban fuels rise of ‘crypto coin’

  Bloomberg Cryptocurrency investors better not take their eyes off China, even after regulators there started to crack down on digital assets. In recent months, over-the-counter crypto trading in China has exploded, just as Chinese spot traders began buying nearly all of their Bitcoin with the stablecoin Tether, according to a study by researcher Chainalysis Inc. Tether was used in 99% ...

  Read More »
• 16 October

  Credit Suisse to expand adviser unit for billionaire clients

  

  Bloomberg Credit Suisse Group AG will boost the number of private bankers that serve its richest clients in the first move by the bank’s new international wealth-management chief. The lender plans to “significantly expand” its business for its strategic clients, who are mostly billionaires, according to a memo from Philipp Wehle seen by Bloomberg and confirmed by a bank spokesperson. ...

  Read More »
• 16 October

  Swiss resumes flights with A220 jets after ‘grounding’

  

  Bloomberg Deutsche Lufthansa AG’s Swiss airline is resuming flights with its fleet of Airbus SE A220 jets after grounding them on October 15 following a “serious” engine problem that forced a London-Geneva service to land in Paris. The carrier, the world’s biggest operator of the narrow-body aircraft, said it cancelled about 100 flights in order to carry out inspections of ...

  Read More »
• 16 October

  Indonesia all set to make halal labeling mandatory this week

  

  Bloomberg Indonesia is all set to make halal labeling mandatory for consumer products and services from this week, but the high cost of securing the license and absence of clear guidelines mean millions of local producers are still without certificates. The compulsory labeling will first apply to the food and beverage products and services from October 17 before being gradually ...

  Read More »
• 16 October

  United raises 2019 outlook again on flight demand, fuel cost

  

  Bloomberg United Airlines Holdings Inc raised its 2019 profit forecast for the second straight quarter, citing strong travel demand and lower-than-expected fuel prices in the late summer. Earnings will climb to at least $11.25 a share this year, the carrier said in a statement as it reported third-quarter results that showed robust travel demand. That compares with an outlook of ...

  Read More »
• 16 October

  Climate protection surcharges on German air travel from April

  

  Bloomberg New climate protection surcharges on German air travel will begin in April, giving passengers a temporary reprieve before tickets become more expensive and providing airlines time to adjust pricing. Lifting surcharges is an element of Chancellor Angela Merkel’s plan to nudge consumers to opt for trains instead of planes, above all in domestic travel. The increased fees are aimed ...

  Read More »
• 15 October

  Putin lauds strong UAE-Russia ties

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Vladimir Putin of Russia on Tuesday held an official meeting at the Presidential Palace in Abu Dhabi. His Highness welcomed the Russian President and his accompanying delegation. Sheikh Mohamed bin Zayed expressed ...

  Read More »
• 15 October

  Grants worth AED10.5b provided by UAE in H1

  

  ABU DHABI / WAM The value of grants provided by the UAE in the first half of 2019 rose to AED10.5 billion, an increase of 56.7 percent compared to the same period in 2018. The total value of registered grants provided by the country in 2018 amounted to AED13.3 billion, a growth of 14.7 percent compared to 2017, according to ...

  Read More »