March, 2019

• 3 March

  Bank Indonesia leaves key rate unchanged

  Bloomberg Indonesia’s central bank left its benchmark interest rate unchanged, dropping some of its more hawkish comments of the past as the Federal Reserve’s policy pause helped to ease pressure on emerging markets. The seven-day reverse repurchase rate was left at 6 percent for a third month, as predicted by all 33 economists surveyed by Bloomberg. Bank Indonesia hiked six ...

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• 3 March

  Crypto firms complain they’re being shunned by banks

  

  Bloomberg The gatekeepers of mainstream commerce are keeping their doors shut to cryptocurrency companies. Entrepreneurs in the digital-assets industry from New York to Hong Kong say that even as some attract investment from multibillion-dollar institutions like Singapore’s sovereign wealth fund, they are routinely refused basic banking services by the likes of HSBC Holdings Plc and JPMorgan Chase & Co. While ...

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• 3 March

  Boeing breaks sales lull as IAG selects 777X as jumbo jet’s heir

  

  Bloomberg Boeing Co. ended a two-year sales drought for its 777X aircraft, as the owner of British Airways struck a deal for as many as 42 of the planes to replace an aging fleet of 747 jumbo jets. IAG SA will order 18 of the 777-9, the largest version of the wide-body jet, the planemaker said in a statement. British ...

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• 3 March

  Amazon plans to launch grocery stores in US cities

  

  Bloomberg Amazon.com Inc. plans to open dozens of grocery stores in US cities, The Wall Street Journal reported, a move that would expand the retail and technology giant’s grocery footprint beyond its Whole Foods Market chain. The first of these stores will open in Los Angeles as early as the end of 2019, and Amazon is in talks to open ...

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• 3 March

  Gap surges on ‘long overdue’ spinoff plan for Old Navy

  

  Bloomberg Gap Inc.’s announcement that it’s spinning off the best part of its business — Old Navy — sent the apparel retailer’s shares soaring 25 percent in premarket trading. The remaining company, which still needs a name, will consist of the namesake Gap brand, Athleta and Banana Republic, plus a couple of lesser known brands. It will have annual revenue ...

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• 3 March

  Ministers vow to bolster Air France-KLM

  

  Bloomberg The French and Dutch governments moved to calm a political maelstrom triggered by their power struggle over Air France- KLM, with finance ministers papering over differences and pledging to work together to review the carrier’s shareholding and operations. “Our goal is to make Air France-KLM the best-performing airline in the world,” French Finance Minister Bruno Le Maire said at ...

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• 3 March

  Walmart’s woes grow as Massmart cuts dividend

  

  Bloomberg Massmart Holdings Ltd.’s lower dividend payout is yet another international headache for majority owner Walmart Inc. The South African retailer, controlled by the Bentonville, Arkansas-based global chain, cut its full-year dividend 40 percent, sending the shares as much as 6.7 percent lower. Walmart, which bought a majority stake in Johannesburg-based Massmart in June 2011 for 16.5 billion rand ($1.2 ...

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• 2 March

  Dubai Silk Road strategy approved

  

  DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, emphasised the importance of the logistics sector as a key driver of economic diversification as highlighted by the 50-Year Charter which outlines the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

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• 2 March

  Russia cuts oil output to comply with Opec pact

  

  Bloomberg Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with Opec following criticism that it was moving too slowly. The country produced 43.3 million tons of oil last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s equivalent to 11.336 million barrels a day, down 82,000 barrels per ...

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• 2 March

  Ajman Free Zone’s new app to make business management easier, faster

  

  Ajman / Emirates Business Ajman Free Zone launched a new and innovative mobile app to make business management easier and faster, at an event attended by Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Free Zone. The newly-launched app will reduce the time and effort it takes for business owners to obtain a new licence or to renew a ...

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