December, 2018

• 18 December

  Australia central bank sees rates on hold

  

  Bloomberg Australia’s economy faces a trifecta of risks that could disrupt household spending and the central bank’s outlook for faster economic growth and falling unemployment. In minutes of its last policy meeting for the year, the Reserve Bank (RBA) struck a slightly dovish tone. It noted a “generalised tightening of credit availability” in the economy even as it stuck to ...

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• 18 December

  Swiss National Bank cuts inflation forecast

  Bloomberg The Swiss National Bank (SNB) cut its inflation forecast and showed no inclination of moving off its crisis-era settings, citing franc’s strength and mounting global risks. Investor anxiety about Italian politics, trade tensions and Brexit has put upward pressure on the franc in recent months, dragging it further away from its April low against the euro. Highlighting those risks, ...

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• 18 December

  Amazon’s best-selling TV  comes via its rival Best Buy

  

  Bloomberg Amazon.com Inc.’s shadow looms large over most US retailers this holiday season, but the online giant could prove to be bright spot for Best Buy Co. Two of the top five best-selling televisions on Amazon are models sold on Best Buy’s new storefront on Amazon, which the companies unveiled over the summer. The TVs come equipped with Amazon’s Fire ...

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• 18 December

  FastJet grounds Tanzania flights

  

  Bloomberg Troubled budget carrier FastJet Plc grounded its Tanzanian flights after the nation’s civil aviation agency issued a 28-day notice for the airline to streamline operations or have its license revoked. “FastJet Tanzania would like to inform its customers who had booked a ticket to travel in December and January that it has temporarily halted its operations,” the airline said ...

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• 18 December

  Lego to halt Walmart holiday sales of ‘toys’

  

  Bloomberg Lego A/S wants to make sure any plastic toy figurine unwrapped in an American home during the holidays isn’t what the toymaker calls a copycat of its own products. The Danish toymaker is asking a federal judge in Connecticut to prevent Zuru Toys Inc. from selling some of its Max Build More and Mayka lines of construction toys at ...

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• 18 December

  Virgin Atlantic pilots extend strikes to March

  Bloomberg A breakaway union of Virgin Atlantic pilots that called strikes during the Christmas and New Year’s holidays extended the job action to the first eight weekends of 2019, according to an emailed statement. The Professional Pilots Union sought help from the conciliation service ACAS to resolve the dispute, but Virgin Atlantic Airways Ltd. won’t negotiate until it calls off ...

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• 18 December

  Burberry skeptics dominate as CEO seeks turnaround

  

  Bloomberg Burberry Group Plc Chief Executive Officer Marco Gobbetti and star designer Riccardo Tisci may be the saviors who finally deliver on the UK trench-coat maker’s long-promised turnaround. Analysts aren’t buying it yet. Burberry is running neck and neck with Hermes International for the dubious distinction of being the lowest ranked by analysts among Europe’s 10 biggest luxury and apparel ...

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• 17 December

  UAE stresses need for decisive global climate action at COP24

  

  DUBAI / WAM The UAE reiterated its position on the issue of global warming and climate change at the closing meetings of the 24th Conference of the Parties (COP24) to the United Nations Framework Convention on Climate Change (UNFCCC) calling for quick enforc- ement of the procedures and global standards adopted by the nearly 200 nations and territories to implement ...

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• 17 December

  Ajman okays AED4.14bn budget for 2019-2021

  

  AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, approved the general budget of the Ajman Government for 2019- 2021. The budget amounts to AED4.140 billion, a growth of 17 percent. The general budget for the 2019 fiscal year was also approved, as part of a financial plan valued at AED1.380 billion ...

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• 17 December

  UAE monetary base expands 6% to AED371.6bn in Nov

  ABU DHABI / WAM The UAE monetary base expanded 6 percent to an 11-month high of AED371.6 billion by end of November from AED350.6 billion in October, according to Central Bank of UAE statistics. Certificates of deposits purchased by banks slightly declined to AED125.8 billion. Current accounts of banks at CBUAE multiplied to AED36.3 billion in November from AED18.2 billion ...

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