December, 2018

• 24 December

  Rwanda raises banks’ capital requirements

  

  Bloomberg Rwanda’s central bank set out more stringent capital requirements for financial-services companies in the East African nation and announced a change in its monetary-policy framework to better accommodate the country’s requirements. Commercial banks need 20 billion francs ($23 million) of paid-up capital, four times the current requirement of 5 billion francs, while development lenders will need 50 billion francs, ...

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• 24 December

  BMO digs deep in mining in ‘transition’ year for bank

  

  Bloomberg BMO Capital Markets’ metals and mining division faced upheaval this year after losing its two veteran co-heads during an already tough time for the resource industry. Its new leaders aim to prove the investment bank remains as strong as ever in the sector. The Bank of Montreal unit is accelerating lending and adding more bankers, including a sales-and-trading team ...

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• 24 December

  Trump-Powell battle would span three arenas where everyone loses

  

  Bloomberg Donald Trump says he likes winning. Right now, it’s difficult to count up anything but losers if the president fires Federal Reserve Chairman Jerome Powell. Trump has been discussing whether he can dismiss Powell, Bloomberg News reported, pro-mpting Treasury Secretary Ste-ven Mnuchin to tweet that the president said he doesn’t believe he has the authority to do so. Trump ...

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• 24 December

  Mnuchin called top bank execs on market stability

  Bloomberg Treasury Secretary Steven Mnuchin called top executives from the six largest US banks over the weekend, he said on Twitter, a move that followed heavy losses in the stock market last week and a partial federal government shutdown. “The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations,” the ...

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• 24 December

  Gatwick drone raid’s legacy of ‘fees, airports’

  

  Bloomberg As thousands rush to complete journeys disrupted by the recent drone incursions at London Gatwick airport, here’s a guide to how the aviation industry is responding, and what the long-term fallout might be. Airlines have a legal duty to get travellers to their destination, no matter if a flight is halted by the weather, strikes or the appearance of ...

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• 24 December

  Norwegian Air says liquidity ‘satisfactory’ as it cuts costs

  

  Bloomberg Norwegian Air Shuttle ASA said its cash position is “satisfactory” and a cost-savings plan is bearing fruit as the debt-strapped budget carrier faces disruptions to its long-haul flights during the slow winter season. “To meet the competitive environment in a period with seasonally lower demand in Europe, the company has made several changes to its route portfolio as well ...

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• 24 December

  Amazon’s grocery push keeps stumbling

  Bloomberg Amazon.com Inc continues to struggle in the $840 billion grocery market, more than a year after it spooked the industry with the $13.7 billion acquisition of Whole Foods. The number of Amazon Prime members who shop for groceries at least once a month declined in 2018 compared with 2017, according to the results of a consumer survey by UBS ...

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• 24 December

  Coca-Cola buys stake in text-to-pay beverage brand

  

  Bloomberg Coca-Cola Co., facing shifting shopping habits that have roiled the food and beverage industry, is taking a minority stake in Iris Nova, the company behind a cashierless New York City store where customers pay for drinks via text message. Coke, now the startup’s largest investor, led a $15 million investment round that values Iris Nova at about $60 million. ...

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• 23 December

  Etihad to fly Dreamliner to Hong Kong

  ABU DHABI / WAM Etihad Airways will introduce Boeing 787-9 Dreamliner on its daily scheduled service from Abu Dhabi to Hong Kong, from March 31, 2019. The two-class aircraft will replace the Airbus A330-200 aircraft currently operating the route. The service will feature the airline’s next-generation business and economy cabins, configured with 299 seats — 28 business studios and 271 ...

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• 23 December

  UAE and Mexico discuss fifth freedom flights

  MEXICO CITY / WAM UAE Ambassador to Mexico Ahmed Hatem Al-Menhali and the Mexican Minister of Communication and Transport Carlos Alfonso Moran have explored ways of reactivating ‘fifth freedom’ (the right or privilege, in respect of scheduled international air services, granted by one state to another state to put down and to take on, in the territory of the first ...

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