July, 2018

• 8 July

  SIX to launch digital asset trading platform

  

  Bloomberg SIX, the owner of Switzerland’s securities exchange in Zurich, is creating platform for trading digital assets, boosting a nascent industry that some countries are trying to suffocate. The new platform will offer a “fully integrated, end-to-end trading, settlement and custody service,” the world’s first to do so, the bourse said in a statement. The parent exchange, regulated by Finma ...

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• 8 July

  Danske Bank’s laundering profits targeted by Danish government

  

  Bloomberg As indignation grows over what may be the biggest financial crime saga in modern Danish history, politicians are looking for ways to ensure the country’s largest bank isn’t let off the hook. Danish Business Minister Rasmus Jarlov says he wants to focus more effort on finding out just how much money Danske Bank A/S made on illicit dealings amid ...

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• 8 July

  Airbus CEO lashes out at UK govt over handling of Brexit

  

  Bloomberg Airbus SE CEO Tom Enders ratcheted up his criticism of the UK government over its handling of Brexit talks as PM Theresa May prepares to hold a key meeting of ministers aimed at thrashing out a common position on the issue. May’s administration has “no clue or consensus on how to execute Brexit without severe harm,” Enders said. The ...

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• 8 July

  Thai billionaire’s retail unit eyes China, India expansion

  

  Bloomberg Thai billionaire Dhanin Chearavanont’s retail subsidiary CP All Pcl is considering an expansion of wholesale operations in China and India to tap the might of consumers in the world’s most-populous nations. CP All’s Chief Financial Officer Kriengchai Boonpoapichart said the firm’s cash-and-carry unit Siam Makro Pcl is studying opportunities in the two countries, as well as the possibility of ...

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• 8 July

  Air France pilots bristle at prospect of Dutch CEO

  

  Bloomberg Air France pilots said they’re concerned Paris would lose out to Amsterdam if KLM unit chief Pieter Elbers becomes the first Dutch head of Air France-KLM, throwing up another obstacle in the search for a permanent CEO. Elbers, 48, has emerged as a serious contender to take the top job at the parent company after the French government, its ...

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• 8 July

  Indian tycoon takes on Amazon, Walmart

  

  Bloomberg Reliance Industries Ltd. plans to take on the likes of Amazon.com Inc. and Walmart Inc. in India’s retail industry by creating a platform that combines online and conventional shopping. Billionaire Chairman Mukesh Ambani outlined the plan at the company’s annual shareholders’ meeting in Mumbai saying Reliance saw its “biggest growth opportunity in creating a hybrid, online-to-offline new commerce platform.” ...

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• 8 July

  Bombardier loses its edge on Embraer after Airbus deal

  

  Bloomberg Bombardier Inc.’s edge over arch-rival Embraer SA didn’t last long. Four days after the Canadian jetmaker completed its tie-up with Airbus SE, Embraer announced its own joint venture with Boeing Co., giving both regional jet makers deep-pocketed partners as they do battle at the low end of the commercial aircraft market. Boeing’s partnership with Embraer is clearly a “direct ...

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• 7 July

  Dubai realty deals hit AED111bn in H1

  

  DUBAI / WAM Dubai Land Department (DLD) has revealed that real estate transactions in the emirate for the first half of 2018 reached AED111 billion, reaffirming Dubai market’s attractiveness and ability to compete with global investment destinations. The strengths portrayed by Dubai’s real estate investments underscore the leadership’s mandate to ease business processes and procedures. According to a report issued ...

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• 7 July

  Fares buys 50% shares of Tawseel Delivery Services

  

  SHARJAH / WAM The UAE-based, Fares Foundation for General Trading, which specialises in logistics and distribution through land, air and sea, has acquired 50 percent shares of Tawseel Delivery Services, a Sharjah-based food delivery service. As per the acquisition agreement signed by the two parties, Fares will increase the number of its fleet of delivery vehicles, enabling Tawseel to provide ...

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• 7 July

  Dubai Customs, South Korea explore fostering business

  

  DUBAI / WAM The Director of Dubai Customs, Ahmed Mahboob Musabih, has received the newly appointed South Korean Consul General, Jion Yung Wok, where the two sides discussed means to enhance cooperation and promote trade and investment. During the meeting, Musabih reaffirmed importance of enhancing cooperation with the South Korean diplomatic mission, business council and Korean companies. Dubai non-oil external ...

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