June, 2019

• 25 June

  Bank of Canada has plenty of scope to hold rates steady

  Bloomberg Canadian inflation quickened in May on increases across the board, giving the Bank of Canada plenty of scope to hold interest rates steady. The consumer price index jumped 2.4 percent from a year earlier, compared with 2 percent in April and versus a median economist forecast of 2.1 percent, Statistics Canada said from Ottawa. It was the highest annual ...

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• 25 June

  British online bank Monzo doubles valuation to $2.5b

  

  Bloomberg Online-only bank Monzo has closed a new funding round doubling the startup’s valuation to more than $2.5 billion, making it one of the UK’s most highly valued fintech companies. Monzo last raised funding late last year at a valuation of $1.25 billion. In this new round, the company will bring in 113 million pounds ($143 million) of fresh capital, ...

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• 25 June

  Garuda Indonesia plans to use 100 drones to ship goods

  

  Bloomberg Delivering cargo to the farthest reaches of the world’s biggest archipelago has forever been a challenge. Indonesia’s biggest airline sees a solution in drones. PT Garuda Indonesia plans to use 100 unmanned aerial vehicles procured from China’s Beihang UAS Technology to ship goods across the nation’s more than 18,000 islands, Director for Cargo and Business Development Mohammad Iqbal said, ...

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• 25 June

  Muji rival MINISO planning $1b IPO

  

  Bloomberg MINISO Co, a Chinese budget household and consumer good retailer, is planning an initial public offering that could raise about $1 billion, according to people with knowledge of the matter. The company is inviting banks to pitch for roles on the proposed offering, the people said, asking not to be identified because the information is private. The share sale ...

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• 25 June

  Singapore’s Trax acquires US retail rewards app Shopkick

  

  Bloomberg Singapore’s Trax is acquiring Shopkick, adding the US rewards app to its growing stable of retail technology. Redwood City, California-based Shopkick lets shoppers earn rewards and gift cards by browsing online offers, watching videos, walking into stores or scanning product barcodes on shelves. Trax didn’t disclose how much it’s paying but seller SK Telecom Co acquired the Californian outfit ...

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• 25 June

  UK retail sales fall at fastest pace since ‘crisis’

  Bloomberg UK retail sales fell at their fastest pace since the financial crisis in the year to June, as relatively poor weather kept shoppers away from stores, according to the Confederation of British Industry. The volume of goods sold slumped by the most since March 2009, with almost one-in-six stores saying they sold less than the same time a year ...

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• 25 June

  The 737 Max pilot who came to rescue Boeing business

  

  Bloomberg When Ray Conner retired as head of Boeing Co’s commercial aircraft business in 2017, the company threw a farewell party for its lifelong employee. Among the speakers: Willie Walsh, who runs the IAG SA airline group and had built a close rapport over the years both with Conner and Boeing, having spent almost two decades piloting 737 planes himself. ...

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• 24 June

  Abu Dhabi prioritises social development, invests in people

  

  ABU DHABI / WAM Abu Dhabi’s Department of Community Development is to launch its second survey to explore the needs of the community and assess the challenges facing the emirate’s development process. This is part of the department’s commitment to ensure the social welfare of the Abu Dhabi community, carrying on the legacy of the Founding Father, Sheikh Zayed bin ...

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• 24 June

  Trade war threatens to derail emerging market bond rally

  

  Bloomberg The best returns in a decade for emerging-market bonds just got a further boost as central banks move towards more easing. Now fund managers must navigate trade tensions and geopolitics that could derail the rally. Investors are optimistic after the Federal Reserve signalled it was ready to cut interest rates and the European Central Bank indicated more stimulus may ...

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• 24 June

  Abu Dhabi, Dubai receive 6mn tourists in 3 months

  

  ABU DHABI / WAM A total of 6.04 million foreign tourists visited Abu Dhabi and Dubai during the first three months of the year, a growth of 1.8 percent on year, figures by the Central Bank of the UAE showed. Dubai received 4.75 million from January to March against 4.65 million in the comparable period last year, with tourist arrivals ...

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