June, 2018

• 23 June

  Mexico raises key interest rate to 7.75%

  

  Bloomberg Mexico increased borrowing costs for the second time this year as higher US interest rates, global trade tensions and the July 1 presidential election have battered the country’s peso, posing a risk to inflation. The currency strengthened on the decision. Policy makers, led by bank Governor Alejandro Diaz de Leon raised the key interest rate a quarter-point to 7.75 ...

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• 23 June

  India plans sale of IDBI Bank stake to top insurer

  Bloomberg India’s government is likely to sell a part of its stake in IDBI Bank Ltd. as early as next month and potential buyers include the country’s top insurer, said people familiar with the matter. Potential investors would include Life Insurance Corporation, the people said, asking not to be identified as the information isn’t public. The sale would lower the ...

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• 23 June

  Boeing faces trade turbulence in China

  

  Bloomberg In the perennial battle between Boeing Co. and Airbus SE, China has for years tried to keep orders on an even keel between the duopoly. Now, thanks to US President Donald Trump, the American planemaker is at risk of losing its meager lead in the world’s second-biggest aviation market. With the rising prospect of an all-out trade war after ...

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• 23 June

  Naspers frees up cash to tap flood of investment options

  

  Bloomberg Naspers Ltd. has put aside the proceeds of share sales in Chinese internet giant Tencent Holdings Ltd. and India’s Flipkart to pay for new investments due to the abundance of opportunities in its preferred media and technology markets. Africa’s biggest company by market value raised $9.8 billion in March by selling a 2 percent stake in Tencent — its ...

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• 23 June

  Bombardier sees more CRJ jet orders after Delta

  

  Bloomberg Bombardier Inc. is building momentum to expand orders for its CRJ regional jets this year after securing a deal with Delta Air Lines, its second in two months. Delta agreed to purchase 20 of Bombardier’s CRJ900 aircraft valued at about $961 million based on list prices. The deal followed an agreement with American Airlines Group Inc. in May for ...

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• 23 June

  Online retailers can be forced to collect tax, says US court

  

  Bloomberg The US Supreme Court freed states and local governments to start collecting billions of dollars in new sales taxes from online retailers, overturning a ruling that had made much of the internet a tax-free zone and put traditional retailers at a disadvantage. News of the ruling caused shares of Internet retailers including Amazon.com Inc. and Wayfair Inc. to fall. ...

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• 20 June

  Mubadala buys 10% stake in Egypt gasfield

  Bloomberg Mubadala Petroleum on Wednesday announced that it has completed the acquisition from Italy’s Eni of a 10 percent participating interest in the offshore Shorouk Concession in Egypt, which contains the supergiant Zohr gas field. Following the completion, Eni, through its subsidiary IEOC, holds a 50 percent interest in the concession. The other partners in the concession are BP with ...

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• 20 June

  DP World signs agreement to expand Canada port terminal

  

  DUBAI / WAM The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase 2B expansion will increase annual throughput capacity at Can-ada’s second largest container terminal to 1.8 million Twenty-foot Equivalent Units (TEUs), when complete ...

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• 20 June

  Emirates Transport profit up 34%

  DUBAI / WAM Emirates Transport (ET) announced net profit of AED244.2 million for the year 2017, an increase of 34 percent on 2016, with revenues also boosted to AED2.558 billion, recording an increase of 6.8 percent compared to the previous year. In his introductory comments of the report, Hussain bin Ibrahim Al Hammadi, Minister of Education and Chairman of ET’s ...

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• 20 June

  DED arm, ebooc to launch next-gen payment platform

  DUBAI / WAM Emcredit, a subsidiary of the Department of Economic Development (DED) in Dubai, and ebooc, has signed a memorandum of understanding (MoU) to launch a next-generation digital payment Point of Sale (POS) platform for Dubai. The MoU was signed by Ali Ibrahim, Deputy Director General of DED and Managing Director of emcredit Limited, and Muna Al Qassab, CEO ...

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