September, 2018

• 10 September

  ‘BOJ to take time before next steps made’

  

  Bloomberg Bank of Japan watchers can rest easy and enjoy a late summer holiday because it won’t be making another policy tweak any time soon, according to a former BOJ official. “It will take time for the BOJ’s next policy step given the need for a consensus from the nine board members,” said Takashi Kozu, who held a wide-range of ...

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• 10 September

  Egypt’s central bank gets reprieve as inflation slows

  

  Bloomberg Egyptian consumer prices rose at their slowest monthly rate since May, offering fresh evidence that the impact of fuel price hikes was abating and giving the central bank room to shift its focus from inflation to investments. Monthly inflation in August eased to 1.8 percent compared to 2.4 percent the previous month, according to data reported by CAPMAS, the ...

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• 10 September

  Crypto growth nears ‘ceiling’, says Ethereum co-founder

  

  Bloomberg The days of explosive growth in the blockchain industry have likely come and gone now that the average person is aware of its existence, according to Vitalik Buterin, co-founder of Ethereum. “The blockchain space is getting to the point where there’s a ceiling in sight,” Buterin said in an interview with Bloomberg at the Ethereum Industry Summit conference in ...

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• 10 September

  Walmart aims to double its truck-driver hiring spends

  

  Bloomberg Walmart Inc., pinched by the worsening shortage of truckers, plans to double its spending on attracting and retaining drivers by year-end. The retailer, whose private fleet of 6,500 trucks is one of the largest in the nation, will offer referral bonuses of up to $1,500, shorten the on-boarding process for new hires by more than a month and broadcast ...

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• 10 September

  Amazon, Flipkart’s India e-comm boom receives airline’s vote

  

  Bloomberg India’s booming e-commerce industry just got an ally: the first cargo service by a commercial airline. SpiceJet Ltd. is starting a dedicated freighter business to ship goods from consumer electronics to apparel and fresh farm produce as an increasing number of online shoppers visiting Amazon.com Inc. to Flipkart Online Services Pvt. demand same- or next-day deliveries. The carrier will ...

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• 10 September

  Airport 3D X-rays success lets TSA expand pilot programme

  

  Bloomberg The Transportation Security Administration (TSA) is so pleased with a program to test three-dimension X-ray technology for carry-on bag screening at airports that it’s increasing plans to buy the new technology starting next year, the agency chief told Congress. TSA is testing computed tomography X-rays, which shoot hundreds of images of a bag from different angles, at 13 airports ...

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• 10 September

  Primark owner’s shares fall as hot summer hits apparel sales

  

  Bloomberg Shares of Associated British Foods Plc, owner of the Primark clothing chain, fell after the company predicted a decline in comparable sales at the retailer. Primark’s like-for-like sales will decline by 2 percent this year, the company said on Monday, citing Europe’s unusually hot summer weather. The apparel stores are expected to post gains overall, but that’s only because ...

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• 9 September

  Dubai hosts Bangladesh Economic Forum

  Dubai / WAM Muhammad Imran, Bangladesh Ambassador to the UAE, said, “We have witnessed a growing interest among both Emirati businesses to invest in Bangladesh while a large number of Bangladeshi entrepreneurs are also setting up companies in the UAE, therefore strengthening the two-way economic ties between the two countries.” “Our government has announced the establishment of 100 economic zones, ...

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• 9 September

  Net income of Abu Dhabi banks hits AED16.6 billion

  

  WAM / bloomberg The net income of commercial and Islamic banks operating in the emirate of Abu Dhabi amounted to AED16.6 billion during H1 of 2018, a growth of 8.4 percent over the corresponding period last year. The increase comes in line with the growth recorded across the UAE banking sector according to the statistics issued by the Central Bank ...

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• 9 September

  Minister of Economy okays regulatory control of fintech

  

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Securities and Commodities Authority (SCA), has issued a resolution approving the regulatory control of Fintech. Part of a number of initiatives aiming at upgrading the financial activities and services platform in the UAE securities sector to match the best international standards and practices, the ...

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