November, 2018

• 26 November

  Correspondent banks in crosshairs over Danske crisis

  

  Bloomberg The financial regulator of Danske Bank A/S says it’s now telling lenders to be more selective when choosing correspondent banks. The decision comes after Denmark’s biggest bank ended up at the center of one of Europe’s worst ever money laundering scandals. Danske’s regulator says some of the bank’s employees were probably involved in “criminal” acts, and the lender may ...

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• 26 November

  The era of easy-money draws to close

  

  Bloomberg Global governments are doing the most to propel the world economy in a decade just as growth slows. As leaders from the Group of 20 prepare to meet this week in Argentina, JPMorgan Chase & Co economists calculate easier fiscal policy will add 0.3 percentage point to global gross domestic product next year, the biggest impulse this decade. That’s ...

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• 26 November

  FirstRand’s FNB to tap fintech to connect traders

  

  Bloomberg FirstRand Ltd’s First National Bank (FNB) and a startup financial-technology company in South Africa are partnering to connect informal traders in townships with fast-moving consumer-goods companies. FNB is seeking to tap into a market that it estimates could consist of as many as 1 million enterprises that have largely been ignored and falls into the “unseen economy,” the Johannesburg-based ...

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• 26 November

  Blockbuster Cyber Monday not enough to boost market

  

  Bloomberg Shoppers will spend an estimated $7.8 billion on Cyber Monday — a record — boosting a strong holiday shopping season. And Wall Street will likely shrug it off. Even a blockbuster holiday won’t divert the market’s attention from the rising interest rates that could hurt car and home sales next year and the escalating trade war between the US ...

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• 26 November

  Winter storm snarls post-Thankgiving travel in midwest US

  

  Bloomberg A winter storm moving across the Central Plains towards the Great Lakes disrupted air travel in Chicago and other cities on the busiest travel day of the year. The storm has blizzard-like conditions and is bringing gusty winds and 6 to 10 inches of snow that will stretch from Kansas City to Chicago, said Bob Oravec, a lead forecaster ...

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• 26 November

  Canada Goose pushes ahead with its China expansion plan

  

  Bloomberg Canada Goose Holdings Inc. is pushing ahead with its China expansion, betting its strategy of selling premium coats directly to customers will help overcome a proliferation of knockoffs and the nation’s consumption slowdown. The Toronto, Canada-based company has dealt with counterfeits soon after it started selling globally two decades ago, CEO Dani Reiss said in an interview in Beijing. ...

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• 26 November

  Lion Air pilots battled confusing malfunctions before crash

  

  Bloomberg The Lion Air pilots whose plane nosedived into the Java Sea in October, killing all those aboard, were battling multiple malfunctions almost as soon as the doomed flight began, according to a trove of new data released by Indonesian investigators. They faced a cacophony of warnings that started seconds after takeoff and continued for the remaining 11 minutes before ...

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• 25 November

  Diversity seen at Dubai Mall is a depiction of UAE’s tolerance

  

  Abu Dhabi / WAM The UAE’s emphasis on ensuring stability in the Middle East and North Africa (Mena), region is “very important: and “really needed”, according to Patrizio Fondi, EU Ambassador to the UAE, who also praised the country’s tolerance endeavours, saying diversity of people and cultures at Dubai Mall depicts the bigger picture of the UAE’s tolerance model. “UAE’s ...

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• 25 November

  ‘We stand together in shadow of our country’s flag with pride’

  

  Dubai / WAM The Minister of Culture and Knowledge Development, President of Zayed University, Noura bint Mohammed Al Kaabi, said that the Spirit of the Union will continue to empower the UAE’s citizens, who have contributed greatly to the process of sustainable national development. During the 47th National Day celebrations, held at the Zayed University Dubai Campus, Al Kaabi said ...

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• 25 November

  Abdullah inaugurates ‘Sheikh Zayed and Europe: a Journey’ exhibition

  

  ABU DHABI / WAM The Minister of Foreign Affairs and International Cooperation, His Highness Sheikh Abdullah bin Zayed Al Nahyan inaugurated the ‘Sheikh Zayed and Europe: a Journey’ exhibition at The Founder’s Memorial in Abu Dhabi. Organised by the European Union Delegation to the UAE and the Austrian and Bulgarian Presidencies of the Council of the EU for the year ...

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