March, 2019

• 20 March

  Pakistan central bank to stay cautious on inflation

  

  Bloomberg Pakistan’s central bank sees inflation behaving well in the next financial year beginning July, but will stand ready to use monetary policy tools after the most aggressive interest rate tightening in Asia last year, its governor said. Consumer price growth will be anchored by low food inflation, State Bank of Pakistan Governor Tariq Bajwa said in an interview. While ...

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• 20 March

  Oil wealth set to fuel second Norway interest rate hike

  

  Bloomberg Norway’s central bank is leaving its closest peers behind. Policy makers in Scandinavia’s richest economy are this week expected to raise interest rates to their highest level in almost four years. The step will mark a second hike since September, helping to cap inflation in western Europe’s biggest oil exporter. Backed by oil income that pumps massive amounts of ...

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• 20 March

  Thailand holds rate as election risks mount

  Bloomberg The Bank of Thailand left its benchmark interest rate unchanged on Wednesday, as expected, providing policy stability to investors days before the nation’s first election since a military coup five years ago. The Monetary Policy Committee voted unanimously to hold its policy rate at 1.75 percent, the Bank of Thailand said in a statement on Wednesday, in line with ...

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• 20 March

  UBS fined $37m for reporting errors

  

  Bloomberg UBS Group AG was fined a record 28 million pounds ($37 million) by a UK regulator for failings related to 136 million transaction reports between 2007 and 2017. UBS didn’t provide complete and accurate information in connection with about 87 million reportable transactions, and filed reports on another 49 million that weren’t required, the Financial Conduct Authority said in ...

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• 20 March

  Bank of Italy’s No. 2 to leave amid government tension

  

  Bloomberg The Bank of Italy’s second-highest official is said to have told staff that he won’t be available for a new term, according to two people familiar with the situation, a further development in the tense relations between the central bank and the populist government. Director General Salvatore Rossi told staff in a letter that he will leave as soon ...

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• 20 March

  Boeing 737 crisis risks Norwegian’s US routes

  

  Bloomberg Norwegian Air Shuttle ASA’s reliance on the fuel-saving Boeing Co 737 Max to underpin its ultra low-cost trans-Atlantic strategy has exposed the loss-making carrier as the most vulnerable in Europe to the worldwide grounding of the plane. Norwegian was among the earliest adopters of the new narrow-body, using its extra range to launch services on Europe-US routes traditionally dominated ...

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• 20 March

  Hermes becomes latest victim of casual dress as men shirk ties

  

  Bloomberg Hermes International has become the latest fashion industry victim of men’s casual dress, signalling weakness in its silk business as neckties lose their allure. Revenue from silk and textiles rose 3 percent in 2018, the slowest growth of the French luxury-goods maker’s business units. CEO Axel Dumas said on Wednesday the company has been shifting production to adjust to ...

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• 20 March

  Trump names ex-airline executive to run FAA

  Bloomberg President Donald Trump named former airline executive Stephen Dickson to run the Federal Aviation Administration as the agency faces scrutiny for its role in approving the Boeing Co 737 Max for service before two fatal crashes of the jetliner. The FAA administrator job has been vacant since Michael Huerta, who had been appointed by President Barack Obama, stepped down ...

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• 20 March

  Cathay to mine personal data to tailor to premium flyers

  

  Bloomberg Cathay Pacific Airways Ltd is doubling down on mining customer data. The airline is logging the travel habits of lucrative business-class flyers, such as when they want their seat laid flat, in a bid to individually tailor flights for them, Chief Executive Officer Rupert Hogg said in an interview in Singapore. Cathay seeks to track 23 categories of behaviour ...

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• 19 March

  Saudi invests $23bn to transform Riyadh

  

  Bloomberg Saudi Arabia plans to pour 86 billion riyals ($23 billion) into beautifying its capital, Riyadh, with projects expected to create tens of thousands of jobs and provide new leisure opportunities in the city. In addition to the kingdom’s investment, the projects will create opportunities for $15 billion in private sector financing, the government said. Preliminary design work is under ...

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