February, 2019

• 4 February

  2020 might not be a year to think about recession: JPMorgan

  

  Bloomberg The Federal Reserve’s change in tone may mean investors should reconsider the timing of the investment cycle, according to JPMorgan Chase & Co. That means investors shouldn’t be driven by fears of recession for now, JP Morgan analysts said. The Fed signalled last week that it’s done raising rates for at least a little while, and that it’ll be ...

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• 4 February

  Danske staff told not to fear bonus cuts amid Estonian scandal

  

  Bloomberg Danske Bank A/S may be facing billions of dollars in fines for its Estonian laundering scandal, but its employees don’t need to worry about having their bonuses cut. Jesper Nielsen, who’s been running the bank on an interim basis since Thomas Borgen was relieved of his duties as chief executive in October, says there might be some bonus adjustments ...

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• 4 February

  No rush to reverse last year’s rate hikes, says Philippine central banker

  

  Bloomberg Philippine central bank Deputy Governor Diwa Guinigundo said a quick reversal of last year’s monetary tightening — either through a reduction in the amount of cash that banks must hold as reserves or a cut in key interest rates — would be “bad economic or monetary policy.” While inflation in the last two months of 2018 cooled from a ...

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• 4 February

  Australia bank execs get lashed for misconduct

  

  Bloomberg The final report of an inquiry into misconduct in Australia’s financial system will land with a thud at National Australia Bank Ltd.’s headquarters. It’s just not the size of the three-volume report, but the blast aimed at Chief Executive Officer Andrew Thorburn and Chairman Ken Henry, who testified during the Royal Commission’s final round of hearings. “Having heard from ...

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• 4 February

  Ryanair CEO retreats from daily fray amid union strife

  

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary will step back from day-to-day management as the discount carrier moves to a group structure that puts union negotiations into the hands of subordinates after a year of labour strife. Chairman David Bonderman, in the post since 1996, will also leave next year, according to a statement on Monday, following investor ...

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• 4 February

  dnata Travel sees 63.5% rise in UAE visitors to Ireland

  

  Dubai / Emirates Business Since the announcement of visa free travel for Emiratis to Ireland in early 2018, dnata Travel, the UAE’s longest-standing travel provider, has experienced a 63.5% overall increase in year on year travel from the UAE to Ireland. The report showed a dramatic 55% increase in travel arrangements made within 14 days in advance of travelling, including ...

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• 4 February

  Splash ‘life after fashion’ campaign benefits underprivileged people

  

  Dubai / Emirates Business A pioneering sustainability initiative introduced by leading retail brand, Splash, which encouraged householders to recycle their old clothes, resulted in over 11 tonnes of clothes being collected. Some of the collected items were distributed amongst underprivileged communities in Africa. The ‘Life After Fashion” campaign saw Splash working closely with UAE-based laundry firms to communicate message of ...

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• 4 February

  Millennial loyalty isn’t enough: Brands want love

  

  Bloomberg Gone are the days when the only goal of a company was to persuade you to buy its product. Now, making you feel kinship with a brand—even love—takes precedence. At least, that’s what a group of influential startups believe. Eyewear maker Warby Parker, makeup seller Glossier, mattress retailer Casper—all of these companies are “direct-to-consumer” brands largely born on the ...

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• 3 February

  FAB surges as it seeks to raise foreign ownership

  

  Bloomberg First Abu Dhabi Bank PJSC jumped on optimism the lender will follow regional peers and raise the foreign-ownership limit on its stock. The shares climbed as much as 5.8 percent in Abu Dhabi before paring gains to 1.8 percent. The ADX General Index added 0.6 percent, with FAB shares adding the most to the increase. The United Arab Emirates’ ...

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• 3 February

  Senaat to serve as co-host sponsor of ‘Energy Congress’

  

  Dubai / Emirates Business The UAE Organising Committee of the 24th World Energy Congress announced signing an agreement with Senaat, one of the UAE’s largest industrial investment holding companies, to serve as co-host sponsors for the 2019 Congress. The agreement was signed by Dr Matar Al Neyadi and Eng Jamal Salem Al Dhaheri at Saint Regis Abu Dhabi. Aligning with ...

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