July, 2019

• 23 July

  Danske CEO: ‘Email me’ as bank breaks with old norms

  

  Bloomberg The new chief executive officer of Danske Bank A/S says he wants anyone with good ideas about how to run his firm to contact him. About 1 1/2 years after Danske was slammed by its financial regulator for having a culture that discouraged staff from speaking up, the bank is embracing transparency. Chris Vogelzang, a former ABN Amro banker ...

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• 23 July

  Khazanah hires Morgan Stanley for Malaysia Airlines strategy

  

  Bloomberg Khazanah Nasional Bhd has hired Morgan Stanley to explore strategic options for Malaysia Airlines Bhd, the nation’s loss-making flagship carrier, according to people familiar with the matter. The investment bank will be responsible for looking at options for the airline, including a potential stake sale, said the people who asked not to be named as the discussions are private. ...

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• 23 July

  Catalyst offers to buy Hudson’s Bay shares to block takeover bid

  

  Bloomberg Private equity firm Catalyst Capital Group Inc is offering to purchase up to C$150 million ($114 million) worth of shares of Hudson’s Bay Co as it builds a stake in the Canadian retailer in an effort to thwart a proposed takeover of the company. The Toronto-based firm said in a statementit was prepared to pay C$10.11 per share in ...

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• 23 July

  Boeing credit rating at risk in 737 Max crisis, says report

  

  Bloomberg Boeing Co’s credit rating is at risk as the grounding of the company’s 737 Max jetliner drags into a fifth month, with Moody’s Investors Service joining Fitch Ratings in sounding a warning. The planemaker faces a $5 billion cash-flow drain this year as it continues to churn out aircraft it can’t deliver until regulators around the globe clear the ...

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• 23 July

  Lindt gains as Russell Stover on rebound track

  

  Bloomberg Lindt&Spruengli AG said its investments in the US market helped put sales of Russell Stover on track for their first annual rebound since the Swiss chocolate maker acquired the ailing brand five years ago. Russell Stover sales grew in the first half, the Kilchberg-based company said. New product introductions and demand for the label’s sugar-free stevia line boosted total ...

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• 23 July

  Airlines clash over CO2 as industry vilified in climate talk

  

  Bloomberg An uneasy alliance between airlines as they face down criticism over carbon emissions has collapsed into a high-profile dispute involving Europe’s biggest network carrier and largest discounter. Deutsche Lufthansa Chief Executive Officer CarstenSpohr lashed out at low-cost carriers including Ryanair Holdings in a Swiss newspaper, saying their loss-leading fares are stoking demand for needless flights that raise pollution and ...

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• 22 July

  Deals galore as Mohamed visits China

  

  BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Xi Jinping, President of the People’s Republic of China, witnessed the signing of a number of agreements and memoranda of understanding (MoUs) between the two countries, spanning a series of sectors including defence, trade ...

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• 22 July

  UAE, China non-oil trade reached $43 billion in 2018

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, stated that China is the UAE’s leading trade partner in terms of non-oil commodities, accounting for 9.7 percent of its total non-oil trade in 2018, valued at over $43 billion. The UAE’s non-oil foreign trade with China in 2018 represented 16 percent of its total non-oil foreign trade ...

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• 22 July

  Emaar executes $11b project in Beijing

  

  BEIJING / WAM Dubai-based global developer Emaar will jointly implement with Beijing Daxing International Airport an AED40.5 billion ($11 billion) project including the five square kilometre land area of the 50 sq km airport. The move is in line with the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander ...

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• 22 July

  UAE Central Bank: June M1 rises to AED507.9 billion

  ABU DHABI / WAM The central bank has announced that the money supply aggregate M1 ascended by 0.1 percent, from AED507.2 billion at the end of May 2019 to AED507.9 billion at the end of June 2019. The money supply aggregate M2 rose by 2.2 percent, from AED1321.3 billion at the end of May 2019 to AED1351 billion at the ...

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