March, 2019

• 19 March

  Tesla’s new model Y raises a whole bunch of Qs

  

  You had to be there. To really see Tesla Inc.’s new Model Y, that is. Those catching the livestream of the unveiling of company’s compact SUV got a relatively brief look at the Y. Much of the event was taken up with something like a greatest-hits rundown of Tesla’s previous vehicles, both real and promised. CEO Elon Musk poked at ...

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• 19 March

  Danske official points to other banks’ ties in Estonia scandal 

  

  Bloomberg It seems increasingly clear that Danske Bank A/S was far from alone in its involvement in one of the world’s biggest money laundering scandals. Karsten Dybvad, the chairman of Denmark’s largest lender, says he hopes the $230 billion dirty money saga that has engulfed Danske doesn’t end up being even bigger. “But we can see in other banks that ...

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• 19 March

  Deutsche Bank weighs giving up office space in Hong Kong skycraper

  

  Bloomberg Deutsche Bank AG, the struggling German lender that’s in talks about a merger with Commerzbank AG, is weighing giving up as many as three of the 10 floors it occupies in Hong Kong’s tallest skyscraper, people with knowledge of the matter said. Deutsche Bank signed the 10-year lease in the 484 meter (1,588 feet) International Commerce Centre in 2010 ...

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• 19 March

  BofA purchases biggest distressed asset in India

  Bloomberg Bank of America Corp. (BofA) has bought its biggest distressed asset in India, adding to a growing trend of foreign investors diving deeper into the country’s massive pile of bad debt. A group of investors led by the US bank have paid 33 billion rupees ($479 million) for soured loans of a beleaguered Indian maker of cast iron pipes, ...

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• 19 March

  ECB faces differing views on sub-zero rates

  

  Bloomberg The European Central Bank (ECB) is approaching the point where it needs to decide whether if negative interest rates are more problem than solution. Since officials pushed back plans to tighten policy, warnings have increased that the potency of a key instrument used to rekindle growth in the 19-nation bloc is diminishing the longer it remains in place. France’s Francois ...

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• 19 March

  UBS bolsters US tech team with two hires

  Bloomberg UBS Group AG is adding tech bankers ahead of what promises to be a busy year for initial public offerings and technology banking transactions. The Zurich-based bank hired Bob Casey and Robert Jackman to join its US technology investment banking team, according to a memo sent by Jason Auerbach, UBS’s head of technology banking for the Americas. They are ...

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• 19 March

  Rate-hike patience may leave Fed in a bind if inflation softens

  

  Bloomberg Federal Reserve officials say they’re willing to tolerate an overshoot of their inflation goal. If the opposite happens, the plan is less clear. Core inflation, excluding energy and food prices, is currently just shy of the central bank’s 2 percent target. Most economists and policy makers see that lasting, though there’s no guarantee: Inflation expectations have been stuck on ...

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• 18 March

  EGA inks deal with Maersk to ship aluminum globally

  

  ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday signed a volume commitment extension agreement for 2019 with the global shipping company AP Moller — Maersk to transport EGA’s aluminium to customers around the world. EGA exports its metal to customers in more than 60 countries worldwide and makes more than 11,000 shipments each year using over 100,000 containers. ...

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• 18 March

  UAE stocks gain AED11.5 billion

  

  Abu Dhabi / WAM The UAE’s two main bourses secured AED11.5 billion in gains on Monday, the highest in months, driven by the realty and banking sectors. Amidst high sentiments, General Index of the Dubai Financial Market increased 1.63 percent, closing high at 2619 points, with General Index of the Abu Dhabi Securities Exchange following suit, ending the session up1.8 ...

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• 18 March

  Dewa, Italian firms foster energy, water sector ties

  

  DUBAI / WAM An Italian delegation led by Liborio Stellino, Ambassador of Italy to the UAE, has visited Dubai Electricity and Water Authority (Dewa), and discussed ways to enhance strategic partnerships between Dewa and Italian organisations, and exchange best global experiences and practices. This is one of a series of visits by diplomatic and consular officials to Dewa to consult ...

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