July, 2018

• 23 July

  ECB instructs Italian lender to submit new capital-boosting plan

  

  Bloomberg Banca Carige SpA, the Italian lender hit by board and management departures, said it has been instructed by the European Central Bank (ECB) to submit a new capital-boosting plan and consider options including a merger. The shares dropped. The ECB’s move came after the central bank rejected a capital-conservation plan presented by the Genoa-based bank on June 22, and ...

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• 23 July

  Hawkish turn at central bank may be rand’s saviour

  Bloomberg It’s been another miserable week for South Africa’s rand, but policy support may be coming closer, if money-market bets are anything to go by. The currency slumped more than 2 percent as the South African Reserve Bank left its benchmark rate unchanged at 6.5 percent, a level Governor Lesetja Kganyago described as “accommodative,” while warning that inflation pressures are ...

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• 23 July

  Ghana takes back control of bank after ‘questionable’ deals

  

  Bloomberg Ghana took back control of Agricultural Development Bank Ltd. (ADB) after the regulator annulled deals for more than half of the lender’s shares following its initial public offering in 2016.Belstar and Starmount are affiliates and entered into deals with SIC and Ecobank Capital Ltd., the asset management unit of Ecobank Ghana Ltd., to purchase ADB’s shares without the regulator’s knowledge, ...

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• 23 July

  Ryanair profits sink as labour strife deepens

  

  Bloomberg Labour strife is starting to weigh on Ryanair Holdings Plc, and the conflict looks set to deepen. The discount airline posted a 20 percent drop in first-quarter profit on Monday, and warned that walkouts by trade unions, along with regional air traffic-control strikes, are making customers wary of booking trips. While the carrier was able to accommodate passengers whose ...

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• 23 July

  Tesco readies new discount stores to take on Lidl, Aldi

  

  Bloomberg Tesco Plc is readying a new chain of discount stores in the company’s most direct offensive on Aldi and Lidl to date. The UK’s largest retailer is recruiting for staff to work in the new store format at sites in Immingham in northeast England and in Chatteris, about 80 miles north of London, according to postings on the LinkedIn ...

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• 23 July

  Papa John’s adopts ‘poison pill’ plan to thwart ex-chairman takeover bid

  

  Bloomberg Papa John’s International Inc.’s board approved a so-called poison-pill plan to fend off any attempt by founder John Schnatter to gain a controlling interest as the pizza chain seeks distance from its controversial namesake. Schnatter, 56, resigned as chairman earlier this month after reports surfaced that he used a racial slur and graphic depictions of violence against minorities during ...

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• 23 July

  Airbus A380 albatross gets new life through leasing firm

  

  Bloomberg The world’s largest passenger jet is finally getting a second life. On August 1 a 10-year-old, Airbus SE A380 formerly flown by Singapore Airlines will enter service with a new carrier, said Paulo Mirpuri, chief executive officer of aircraft lessor Hi Fly. He said he has two candidates interested in flying the refurbished, 471-seat, jumbo jet: a large European ...

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• 22 July

  UN lauds UAE for Yemen humanitarian efforts

  HODEIDAH / WAM The Director of the UN Office for the Coordination of Humanitarian Affairs (OCHA) in Aden, has praised the UAE’s humanitarian and relief efforts through the Emirates Red Crescent (ERC) in Hodeidah Governorate and the Red Sea Coast of Yemen. This came during a meeting with Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, where the UN ...

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• 22 July

  EAD’s board of directors restructured

  Abu Dhabi / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council of Abu Dhabi, issued a Resolution restructuring the Board of Directors of the Environment Agency — Abu Dhabi (EAD) under the chairmanship of HH Sheikh Hamdan bin Zayed Al ...

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• 22 July

  Etihad, Emirates in deal talks with African carrier

  

  Bloomberg Two United Arab Emirates airlines have held talks with South African Airways about a partnership that it says is needed to revive its business, City Press reported, citing the UAE ambassador to South Africa. Talks between Emirates Airline and SAA, which have been going on for some months, are being facilitated by the UAE’s embassy in Pretoria, the Johannesburg-based ...

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