April, 2018

• 21 April

  Barclays chief fined in whistle-blowing probe

  

  Bloomberg Barclays Plc Chief Executive Officer Jes Staley survived a year-long regulatory probe into his attempts to unmask a whistle-blower, escaping with a fine instead of losing his job. While the UK Financial Conduct Authority and Prudential Regulation Authority will impose a financial penalty on Staley for failing to behave “with due skill, care and diligence” in the scandal, they ...

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• 21 April

  Hong Kong interbank rate rises to four-month high

  Bloomberg The Hong Kong dollar’s interbank borrowing costs rose to their hig-hest level this year, as the city’s de facto central bank bought more of the currency to defend its peg to the greenback. The three-month interbank rate — known as Hibor — climbed for a fourth day to reach 1.32 percent, the highest since December 27, as the Hong ...

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• 21 April

  Deutsche Bank’s bad news gets worse with $35 billion flub

  

  Bloomberg The bad news at Deutsche Bank AG just got worse. Amid a weeks-long leadership tussle that claimed the scalps of the chief executive, two of his top lieutenants and tainted its chairman, the bank inadvertently transferred 28 billion euros ($35 billion) to one of its outside accounts, Bloomberg News has revealed. While the blunder was quickly reversed and caused ...

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• 21 April

  Southwest’s white-knuckle ride in focus as NTSB probes engine

  

  Bloomberg Passengers aboard a crippled Southwest Airlines Co. jetliner endured a tense, bumpy, 22-minute ride after an engine failed and hurled a hail of shrapnel that blew out a window, causing the death of a woman. The plane banked hard to the left by 41 degrees moments after the engine shutdown and its smooth exterior tore loose, dramatically increasing wind ...

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• 21 April

  Sudan Airways may cut 80% of its staff: Minister

  

  Bloomberg Sudan Airways, the national carrier that’s cut almost all flights, may fire 80 percent of staff as it awaits benefits from the lifting of two-decade-old US sanctions, a state minister for transport said. The airline will probably dismiss 1,200 of its 1,500 employees as it tries to overcome difficulties in international banking transactions and importing vital spare parts, according ...

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• 21 April

  Debenhams stock sinks as retailer loses CFO

  

  Bloomberg Debenhams Plc tumbled after the UK department-store operator said its chief financial officer is leaving to join a rival, and profit will be at the lower end of an already-reduced forecast range. Following a holiday season in which UK consumers shifted to e-commerce merchants such as Amazon.com Inc. and hunted for bargains, full-year pretax profit will be at the ...

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• 21 April

  P&G to buy Merck’s consumer-health unit

  

  Bloomberg Procter & Gamble Co. agreed to buy Merck KGaA’s consumer-health business for 3.4 billion euros ($4.2 billion) to bolster growth, betting that vitamins and decongestants can hasten its comeback. The deal gives the maker of Crest toothpaste a stable of products with sales growth of 6 percent in the past two years, double the pace of traditional consumer goods ...

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• 21 April

  Airports are using ‘smart glass’ to make you spend more money

  

  Bloomberg There are many depictions of a future in which we’ve mastered the art of manipulating the opacity of glass. Even in real life, sunglasses can adapt to the intensity of sunlight. So why, one might ask, can’t we have that in our homes, or at work? The wait may soon be over. The tinted world of tomorrow is coming, ...

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• 18 April

  Dubai Investments to distribute 12% cash dividend

  DUBAI / WAM Dubai Investments has announced the decision to distribute 12 percent cash dividend to its shareholders for the financial year ending on December 31, 2017. A proposal to this effect was approved by the shareholders at the company’s 22nd Annual General Meeting on Wednesday. The company presented its 2017 financial results, which revealed a net profit of AED1,001.6 ...

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• 18 April

  Emaar launches first Address project in RAK

  Emirates Business Mohamed Alabbar, Chairman of Emaar Properties, on Wednesday announced the launch of the company’s first hotel and residences project in Ras Al Khaimah, at the Arabian Hospitality Investment Conference 2018. Located in the Views island of Al Marjan Island, a four-island mega-development, Address Al Marjan Island hotel and residences will be managed by Emaar Hospitality Group’s premium lifestyle ...

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