March, 2019

• 31 March

  Swedbank hires Nordia to represent it in ‘probe’

  

  Bloomberg Swedbank AB has hired the law firm Nordia as its external legal counsel to handle a criminal investigation into potential fraud, amid a growing money-laundering scandal that has engulfed the bank. Swedbank fired Chief Executive Officer Birgitte Bonnesen as laundering allegations against Sweden’s oldest bank and biggest mortgage lender pile up. The lender is being investigated by the financial ...

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• 31 March

  London banker fired for stealing bike part sues Mizuho

  

  Bloomberg A former Mizuho Bank Ltd executive — who was fired for taking a part from a bicycle in the company storage shed — is suing the bank, saying it used the episode as a “convenient way” to get rid of him after he complained about bullying and potential regulatory breaches. Marius Caracota, who worked as a relationship manager for ...

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• 31 March

  Airbus stays mum about sales amid Boeing crisis

  

  Bloomberg The ceremony at the Elysee palace in Paris exuded the full pomp of the French state. Under ceilings dripping with chandeliers, executives of Airbus SE and the agency that buys planes for China’s airlines signed an order worth $35 billion as French President Emmanuel Macron and his Chinese counterpart, Xi Jinping, looked on. Normally, such an event would be ...

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• 31 March

  Kenya Airways in talks to buy Airbus planes

  

  Bloomberg Kenya Airways Plc is in discussions with Airbus SE to acquire an unspecified number of planes from the Toulouse, France-based company, but remains a “happy and loyal customer” of Boeing Co, according to Chief Executive Officer Sebastian Mikosz. Sub-Saharan Africa’s third-largest carrier, which wants to add 50 airliners to its fleet over the next six years to ward off ...

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• 31 March

  Boeing crash fallout widens on TUI profit hit, lawsuit

  

  Bloomberg Boeing Co faced widening fallout from the crisis over its 737 Max jets, as travel giant TUI AG warned the grounding of the aircraft will cut its profit and the estate of a passenger who died in this month’s crash in Ethiopia sued the planemaker. Boeing, based in Chicago, has been under intense scrutiny after two 737 Max crashes ...

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• 31 March

  Tiffany adds manufacturing jobs to boost its diamond business

  

  Bloomberg Tiffany & Co has quietly added thousands of manufacturing jobs over the past two years as it digs deeper into the diamond business. The jeweller has increased its staff by 2,300 employees since early 2017, about a 19 percent rise in headcount. Nearly all of the new jobs are in Tiffany factories abroad or jewellery manufacturing in the US. ...

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• 31 March

  Sonic brings Red Bull to fast food next month

  Bloomberg Sonic is doubling down on indulgent. The burger chain, squeezed by tough competition from larger rivals including Burger King and McDonald’s Corp, is adding a Red Bull frozen “slushie” to its menu next month, as it seeks to pull in the so-called young males who have remained loyal fast-food customers even as eating habits shift in the US. It’s ...

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• 30 March

  Economy on positive track to deliver UAE Vision 2021: Sultan Al Mansouri

  DUBAI / WAM The UAE gross domestic product (GDP), grew by 1.7 percent in 2018 at constant prices of 2018 as compared to 2017, said Sultan bin Saeed Al Mansouri, Minister of Economy, on Saturday citing preliminary macro-economy indexes issued by the Federal Competitiveness and Statistics Authority (FCSA), for last year. Al Mansouri noted that the improvement in the UAE’s ...

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• 30 March

  UAE committed to robust climate action

  NEW YORK / WAM During his participation in the High-Level Meeting on Climate and Sustainable Development for All, convened by Maria Fernanda Espinosa, President of the United Nations General Assembly in New York, Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, reiterated the country’s green commitment and support for ambitious and innovative global climate action. ...

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• 30 March

  MEA smart city tech spending to hit $2.3b

  

  Dubai / WAM Investments in technologies enabling smart cities in the Middle East and Africa (MEA), region is expected to hit the $2.30 billion mark by 2021 as per the estimates of International Data Corporation. Given that large funding is needed to build smart cities, public-private partnerships (PPPs), are seen as the key force that will help accelerate such undertakings ...

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