October, 2018

• 27 October

  Russia keeps key interest rate unchanged at 7.5%

  

  Bloomberg Russia’s central bank kept borrowing costs unchanged, pausing despite persistent inflation risks after a surprise hike last month. The key interest rate will stay at 7.5 percent, according to a statement. The decision was forecast by 39 of 41 economists surveyed by Bloomberg, with the rest predicting an increase to 7.75 percent. “Holding the rate unchanged is a good ...

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• 27 October

  RBS is first UK bank to take Brexit blow as talks drag

  

  Bloomberg Royal Bank of Scotland Group Plc set aside 100 million pounds ($128 million) to reflect greater uncertainty aro-und Brexit, the first British bank to do so this quarter, as Chief Executive Ross McEwan said big companies are pausing investment as the talks drag on. While McEwan said his meeting with Prime Minister Theresa May alongside other CEOs last week ...

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• 27 October

  Airbus delivery challenge gets tough with Rolls-Royce delays

  

  Bloomberg Airbus SE has a mighty challenge ahead of it, one that seems to be getting tougher. The European planemaker is targeting deliveries of around 800 commercial aircraft this year, an 11 percent jump from 2017. To do it, Airbus needs to hand over some 300 jets in its final quarter, which would be a record. But delays with engines ...

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• 27 October

  No-deal Brexit will unleash chaos: IATA

  

  Bloomberg The airline industry should prepare for chaos if no trade agreement is signed in the coming weeks for the UK’s planned split from the European Union, the head of the sector’s trade body has warned. The International Air Transport Association detailed its concerns in a report on Brexit. These include airline landing rights in the UK, pilot licenses and ...

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• 27 October

  Boeing’s cash surge creates rare bright spot amid industrial woe

  

  Bloomberg Boeing Co. revved up cash flow and raised its profit forecast, soothing shareholder concerns over an operating loss in its defense business and production stumbles with the company’s best-selling 737 jets. Free cash flow jumped 37 percent to $4.1 billion in the third quarter, more than double analysts’ estimates. The planemaker also reported higher-than-expected earnings, raised its annual profit ...

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• 27 October

  Sears’s losses could become most valuable assets

  

  Bloomberg The losses that drove Sears Holdings Corp. into bankruptcy could end up being a valuable multi-billion dollar asset because of tax breaks — especially for its most notable creditor and Chairman, Eddie Lampert. As of the retailer’s bankruptcy on October 15, Sears estimated it had net operating losses it could use to offset $5 billion of future taxable income, ...

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• 27 October

  Southwest Air plunges most in two years

  Bloomberg Southwest Airlines Co. tumbled the most in two years as Wall Street worried that expenses are getting out of hand. Investments in new technology and airport facilities haven’t paid off as much as expected, said Chief Executive Officer Gary Kelly. Costs for each seat flown a mile, a key measure of efficiency, will climb at least 3 percent in ...

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• 24 October

  WHO lauds Sheikh Mohamed for efforts to achieve polio-free world

  

  ABU DHABI / WAM Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO), in a message on World Polio Day, has thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his continuous efforts to achieve polio-free world. HH Sheikh Mohamed bin Zayed in a ...

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• 24 October

  Construction on Abu Dhabi hyperloop to begin in 2019

  

  Emirates Business Hyperloop Transportation Technologies announced appointment of leading design and engineering firm, Dar Al-Handasah (founding member of the Dar Group), to assist in bringing the Abu Dhabi commercial system to reality. Dar Al-Handasah joins the project as design lead and as the latest investor in HyperloopTT. Construction of the Hyperloop commercial track as well as HyperloopTT’s XO Square Innovation ...

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• 24 October

  India-UAE food corridor project to create 200k jobs

  

  DUBAI / Emirates Business Two million Indian farmers will benefit from the India-UAE food corridor project, which will also create an additional 200,000 jobs across India due to cumulative investments of more than $5 billion (AED18.35 billion) by the UAE in the next three years, said His Excellency Abdulla Ahmed Al Saleh, Undersecretary for Foreign Trade and Industry at the ...

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