October, 2019

• 14 October

  Trade doubts lurk in yuan fixing amid ‘markets rally’

  Bloomberg Considering the lack of enthusiasm for the so-called mini trade deal in China, the country’s disappointing trade data, an unexciting yuan fixing and the cautious-sounding analyst commentaries, it was a wonder that emerging markets were able to make any headway at all. But catch-up was predictably the order of the day following the US rally, so most currencies strengthened, ...

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• 14 October

  Investors shun China small banks despite half-price deals

  

  Bloomberg To see how little investors love China’s small banks, look no further than the nation’s largest online auction site. On Alibaba Group Holding Ltd’s Taobao platform, a Chinese court tried to auction off 1.5 million shares of a rural bank in the eastern Zhejiang province for a starting price of $161,000 — about half their appraised value. After three ...

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• 14 October

  US-EU jet tariff war will drive up travel costs, warns Clark

  

  Bloomberg A face-off between the US and European Union over jetliner tariffs risks making travel more expensive for passengers, the world’s biggest long-haul airline has warned. Tit-for-tat import duties on Boeing Co and Airbus SE planes would ultimately increase the cost of the aircraft and hence also fares, Emirates President Tim Clark said on Monday in Dubai, where the carrier ...

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• 14 October

  US set to hit EU with $7.5b Airbus sanction

  

  Bloomberg The World Trade Organization on on Monday formally authorised the US to impose tariffs on about $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus. Members approved this month’s arbitration award — the largest in the trade organisation’s history — at a special meeting of the dispute settlement body at the WTO’s headquarters ...

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• 14 October

  Bamboo Airways expects $1b market cap at listing

  

  Bloomberg Vietnam’s Bamboo Airways expects a market capitalisation of as much as $1 billion at its planned listing in the first quarter next year. The startup carrier plans to list about 400 million shares on either the Ho Chi Minh City Stock Exchange or Hanoi Stock Exchange as early as January, Deputy Chief Executive Officer Nguyen Khac Hai said in ...

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• 14 October

  Bed Bath surges after it names new CEO

  Bloomberg Bed Bath & Beyond Inc shares soared after the company named Target Corp’s head merchant Mark Tritton as its new chief executive officer. Analysts were broadly encouraged by the announcement given Tritton’s successful tenure at Target. Loop Capital’s Anthony Chukumba cited the new CEO’s “retail/consumer pedigree” and merchandising and private label development “experience and expertise.” Morgan Stanley’s Simeon Gutman ...

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• 14 October

  Russia’s pizza king wants to use cloud to take over the world

  

  Bloomberg Once you crack the profit code for delivering hot pizzas in the Arctic, where blocks of cheese arrive on nuclear icebreakers, expanding into more hospitable climes like Britain and Nigeria is as easy as pie. Or so says Fyodor Ovchinnikov, the freshly crowned franchise czar of Russia and soon, he’s betting, beyond. From a single basement oven in his ...

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• 13 October

  UAE calls on Turkey, other forces to pull out of Syria

  

  CAIRO / WAM The United Arab Emirates has called upon Turkey and all other foreign forces to withdraw from Syria and to seek a political solution. The UAE also stated that the minimum action incumbent upon Arab countries is the adoption of a firm response to aggression against any Arab country, which is seen as aggression against the national security ...

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• 13 October

  UAE-Russia non-oil trade hits AED51.79b in 5 years

  

  ABU DHABI / WAM Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, said that the value of non-oil trade between the UAE and Russia over the past five years amounted to $14.1 billion (AED 51.79 billion), while last year’s non-oil trade totalled $3.4 billion, compared to $2.5 billion in 2017, a growth of 36 percent. ...

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• 13 October

  UAE one of Russia’s very close and promising partners: Putin

  ABU DHABI / WAM Russian President Vladimir Putin sees the UAE as one of Russia’s very “close and promising partners,” saying that the partnership is “vigorously developing in all areas.” Putin will pay a historic state visit to the UAE on Tuesday. His last visit was in 2007. “It is safe to say that the United Arab Emirates greatly contribute ...

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