March, 2019

• 12 March

  Loan loophole saved new Kazakh central bank head from debt claim

  

  Bloomberg The new chief of Kazakhstan’s central bank dodged a debt claim in 2014 thanks to a legal system that’s failed to protect lenders from rampant defaults and repeated crises. In 2014, Yerbolat Dossayev and three business partners were given a reprieve on repaying 1.9 billion tenge, then worth $13 million, that they’d personally guaranteed to the central Asian country’s ...

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• 12 March

  BOJ watchers see chance of additional stimulus

  

  Bloomberg An increasing number of economists see additional stimulus as the Bank of Japan’s next policy step, while they are unanimous in forecasting no change at this week’s board meeting. Some 37 percent of 46 economists surveyed by Bloomberg this month forecast the next policy change will be additional easing, a jump from 18 percent in January. All of them ...

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• 12 March

  Lion Air mulls pivot to Airbus after Boeing orders halted

  

  Bloomberg Indonesia’s Lion Air, one of the biggest customers of Boeing Co.’s 737 Max plane, is considering switching to Airbus SE amid plans to suspend existing orders it has with the US plane maker, according to a person familiar with the matter. The carrier is suspending delivery of four 737 Max jets it had on order for this year from ...

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• 12 March

  Mahathir weighs shutdown or sale of Malaysia Airlines

  

  Bloomberg Prime Minister Mahathir Mohamad said he’s studying options for flag carrier Malaysia Airlines Bhd., including whether to invest more funds, sell it off or even shut the company down. “It is a very serious matter to shut down the national airline,” he told reporters at parliament. “We will nevertheless be studying and investigating as to whether we should shut ...

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• 12 March

  US retail sales rise in January, stabilising after a slump

  

  Bloomberg US retail sales stabilised in January after a plunge the prior month that was larger than first reported, indicating consumers may still be able to help support economic growth after a dismal end to 2018. The value of overall sales rose 0.2 percent after a 1.6 percent drop in the prior month that was the steepest since 2009, Commerce ...

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• 12 March

  United Continental tries a little leniency for passengers running late for the flight

  

  Bloomberg It’s the airport equivalent of road rage: You race to your gate on a tight connection to see the door shut and your plane inching backwards. One reason gate agents are so strict about that closed door is an airline metric called “D-0” (D-zero), which designates a flight that departs at exactly the scheduled time. The industry—and government regulators—rigorously ...

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• 12 March

  Retailer Z Gallerie enters bankruptcy, angles for sale

  

  Bloomberg The gloomy state of brick-and-mortar retail has helped push another chain into bankruptcy, and this one is planning a speedy sale in order to dodge liquidation. Z Gallerie LLC, the upscale retailer known for its eclectic home decor, filed for bankruptcy in Delaware. The company blames the filing on self-imposed problems — namely a failure to invest enough in ...

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• 11 March

  UAE cabinet approves National Space Strategy 2030

  

  ABU DHABI / WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has adopted the National Space Strategy 2030 during its meeting at the Presidential Palace in Abu Dhabi. The Cabinet meeting was attended by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy ...

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• 11 March

  Adnec adds AED3.41bn to Abu Dhabi’s economy

  

  ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) on Monday announced that the value of its direct and indirect impact on the Abu Dhabi economy in 2018 registered AED3.41 billion, taking the total value of its contribution to the local economy since its inception in 2005 to AED32 billion. The company shared its 2018 results at a press ...

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• 11 March

  Government revenues hit AED304.5b

  ABU DHABI / WAM The UAE consolidated government revenues increased to AED304.5 billion during the first nine months of 2018, up 4.8 percent on year, with expenses picking up from AED259.3 billion over the first nine months of 2017 to as much as AED267.2 billion in the corresponding period of 2018, according to figures released by Federal Competitiveness and Statistics ...

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