June, 2018

• 9 June

  Deutsche Bank to trim coverage in Asia equities

  

  Bloomberg Deutsche Bank AG is cutting onshore sales and derivatives coverage in individual markets across Asia-Pacific as part of a restructuring of its equities business in the region, according to a person familiar with the matter. The move will involve unspecified staff reductions, the person said, requesting anonymity because the changes haven’t been announced. The German bank plans to focus ...

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• 9 June

  RBI says hike wasn’t meant to boost rupee

  Bloomberg Reserve Bank of India Governor Urjit Patel signalled that the interest-rate hike was not aimed at defending the rupee. Analysts say that the move will still provide the much-needed support to the currency. For HSBC Holdings Plc and Nomura Holdings Inc., it bolsters the RBI’s credentials on the inflation-fighting front, which they say will have a rub-off effect on ...

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• 9 June

  Extreme central banking is making the rich richer: Nordea

  

  Bloomberg The new global head of macro research at Nordea Bank AB says it’s now clear that the extreme monetary policies that followed the global financial crisis are making the rich richer and everyone else more indebted. Kristin Magnusson Bernard, who used to work with financial stability at the European Central Bank, says the lessons learned from cutting interest rates ...

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• 9 June

  Unions, Washington state woo Boeing in race for ‘797’ work

  

  Bloomberg Boeing Co. hasn’t decided whether to build a new midrange jet, but Washington state is already teaming with aerospace workers to try to keep any new work in the planemaker’s industrial heartland. The Puget Sound region around Seattle holds an advantage as a “dense supercluster of advanced aerospace manufacturing and skilled aerospace workers,” according to a Teal Group study ...

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• 9 June

  Gucci aims to rival Louis Vuitton with $12 billion target

  

  Bloomberg After surpassing Hermes, Gucci has Louis Vuitton in its sights. The Italian fashion brand, owned by Kering SA of France, aims to lift revenue to 10 billion euros ($12 billion) from last year’s 6.2 billion euros, according to an investor presentation Thursday. That would rival LVMH’s Louis Vuitton, long the biggest and most profitable name in luxury. With a ...

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• 9 June

  Delta drags down airlines after fuel cost spurs cut to forecast

  

  Bloomberg Delta Air Lines Inc. dragged down US airlines after the carrier trimmed its profit outlook, citing the rising price of jet fuel. Second-quarter earnings will be no more than $1.75 a share, Delta said in a statement. That’s down from a previous forecast of as much as $2 a share. Fuel prices have risen about 12 percent since the ...

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• 9 June

  Airlines have bigger nightmare than fuel, a runway shortage

  

  Bloomberg Pity the airlines: fuel prices are soaring, pilots are in short supply and political spats threaten global trade. And worse may be to come. With global passenger numbers forecast to almost double to 7.8 billion by 2036, runways, airports and even airspace could rapidly become too crowded to cope. In Asia, which will contribute more than half of the ...

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• 7 June

  First Saudi-Emirati Coordination Council meet held in Jeddah

  

  JEDDAH / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Deputy Prime Minister, Minister of Defense of the Kingdom of Saudi Arabia and President of Saudi Council of Economic and Development Affairs chaired the first meeting ...

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• 6 June

  AED50bn stimulus fund to fuel Abu Dhabi’s growth

  

  ABU DHABI / WAM Officials from the Department of Culture and Tourism — Abu Dhabi said the AED50 billion stimulus package, announced by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supr-eme Commander of the UAE Armed Forces, will sharpen the emirate’s competitive edge. Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture ...

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• 6 June

  Immensa: First UAE firm to submit 3D-printing patent

  Emirates Business Immensa Technology Labs (Immensa), the UAE’s leading Additive Manufacturing (AM or 3D printing) company, has submitted the first 3D printing related patent from a UAE-based company. The patent — an Immensa proprietary met-hod for the production of moulds for concrete and other aggregates utilising 3D printing — is an exclusive innovation that aims to revolutionise the way regional ...

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