October, 2018

• 21 October

  Goldman says time to buy the dip in emerging markets

  Bloomberg This year’s selloff in emerging-market assets has created a whole lot of value, according to Goldman Sachs Group Inc. The firm’s asset-management arm says it’s time to buy as months of underperformance for developing-nation securities relative to their US peers won’t last much longer. The divergence was an anomaly, spurred in part by sanctions on Turkey and Russia as ...

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• 21 October

  Swiss banking secrecy rule dealt setback in October

  

  Bloomberg Two events this month may have finally brought the curtain down on secrecy rules that were the key to Geneva and Zurich’s private banking heyday, when foreign clients could come armed with suitcases of cash and their bankers would look other way. Swiss tax authorities announced they’d shared details on 2 million accounts with other countries for first time ...

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• 21 October

  Boeing’s tanker to miss delivery date, says US Air Force chief

  

  Bloomberg Boeing Co. won’t deliver its first KC-46 aerial refueling tanker by month’s end as it had agreed, according to US Air Force Secretary Heather Wilson, the latest in a procession of missed deadlines since the company won the contract in 2011. Air Force officials are meeting with planemaker “to try to lay down path forward for delivery and to ...

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• 21 October

  Boeing receives endorsement from an old foe at Airbus

  

  Bloomberg Boeing Co. received an endorsement from an unlikely source: John Leahy, Airbus SE’s retired sales supremo who rang up over $1 trillion in aircraft deals over a long career, largely at the expense of the US aerospace giant. Leahy is famous for ribbing his long-time rival. But after being put on the spot by a fellow aviation luminary at ...

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• 21 October

  Sears burns cash while betting on Lampert loans for survival

  

  Bloomberg Fast-dwindling cash is casting doubt on whether Sears Holdings Corp. can firm up its survival plan in time to avoid liquidation. Sears is expected to bleed $220 million in just the first month of its bankruptcy, court filings show, cutting deep into the $300 million loan it secured this week from senior lenders. The crunch could become more acute ...

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• 21 October

  Air France-KLM’s new CEO seals elusive deal with French unions

  

  Bloomberg Air France-KLM Chief Executive Officer Ben Smith marked an early victory just weeks after taking the top job by reaching a pay deal with French unions that had eluded his predecessor. The accord at the Air France arm includes a wage increase of 2 percent retroactive January 1 and another 2 percent to take effect in 2019, according to ...

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• 20 October

  Dubai to host UN data forum on Monday

  Dubai / WAM The second United Nations Data Forum 2018 will commence on Monday, October 22. The three-day forum takes place in Dubai and will bring together more than 2,500 data experts, high-ranking government officials and prominent policy makers from 120 countries around the world. With 80 interactive discussion panels and over 400 global spe-akers, the second edition of the ...

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• 20 October

  UAE-India forum to focus on bilateral strategic, trade ties

  DUBAI / Emirates Business The fourth edition of the annual UAE-India Economic Forum (UIEF), which will be held in Dubai on October 24, is poised to explore the strengthening ties and bilateral trade relations between the two countries. The UIEF is supported by the Telangana Chamber of Commerce and Industry and Gujarat Chamber of Commerce and Industry. The forum, to ...

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• 20 October

  UAE records 97.7 pct excise tax compliance

  

  ABU DHABI / WAM The Federal Tax Authority (FTA) has revealed that compliance with tax returns requirements for excise tax one year after its introduction in the UAE has amounted to 97.7% of registered businesses — one of the highest rates in the world — while the total number of registrants reached 715 registrants. Khalid Ali Al Bustani, Director General ...

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• 20 October

  Abu Dhabi Ports, MSC join hands on blockchain solution

  

  Emirates Business Maqta Gateway LLC, an Abu Dhabi Ports subsidiary, announced that it is to carry out its first testing of international blockchain solution Silsal with a maritime operator in partnership with MSC Mediterranean Shipping Company, a global leader in shipping and logistics. The announcement marks the latest milestone for Silsal. The innovative solution provides a seamless and secure link ...

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