April, 2018

• 4 April

  ‘Oman has means to maintain its currency peg’

  

  Bloomberg Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said. Oman’s gross foreign currency reserves, which stood at $19.6 billion at the end of January, are enough to cover nearly nine months’ worth of imports, ...

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• 4 April

  Romanian central bank keeps main interest rate on hold

  BUCHAREST / Reuters Romania’s central bank kept its benchmark interest rate on hold at 2.25 percent on Wednesday, it said, likely waiting to assess the impact of two consecutive hikes it delivered earlier this year on rising inflation. Nine of ten analysts polled by Reuters last month had expected the bank to hike interest rates by a quarter point. A ...

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• 4 April

  India’s RBI set to keep bond market party going

  

  Bloomberg India’s government kicked off a party in the bond market last week. And the central bank won’t want to spoil that. While Governor Urjit Patel and his monetary policy committee have turned more hawkish on inflation recently, they are set to hold the benchmark interest rate at 6 percent, according to all 26 economists in a Bloomberg survey. That ...

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• 4 April

  Deutsche Bank should scale back US business: JPMorgan

  Bloomberg Deutsche Bank AG needs to scale back its US operations and focus on serving European companies to unlock capital and improve returns, according to analysts at JPMorgan Chase & Co. The US business “consumes material balance sheet resources” while suffering from “persistently low profitability,” Kian Abouhossein and Amit Ranjan wrote in a note to clients on Wednesday. The alternative ...

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• 4 April

  Trump-Xi tariff war hits Boeing, spurs Airbus to cruise ahead

  

  Bloomberg Boeing Co., the biggest US exporter, suffered a setback in China after the country proposed an additional 25 percent tariff on US aircraft in a retaliatory move, giving rival Airbus SE a leg-up in a market set to the become the world’s biggest. In a tit-for-tat response to tariffs by President Donald Trump, China announced the planned levy on ...

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• 4 April

  Hershey spends $500mn for sustainable Kisses

  

  Bloomberg Hershey Co. is spending $500 million in the hopes of producing its iconic chocolate Kisses from more sustainable cocoa. Through its so-called Cocoa for Good programme, the company will invest the funds through 2030 to support four key areas: nourishing children, empowering youth, building prosperous communities and preserving natural ecosystems. The initiative’s goals include eliminating child labor and increasing ...

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• 4 April

  Southwest in talks with Boeing for additional 737 Max orders

  

  Bloomberg Southwest Airlines Co. is considering an order for “more than a handful” of Boeing Co.’s 737 Max aircraft as the nation’s largest discount carrier benefits from lower tax rates and expanding travel demand. Discussions with Boeing are ongoing, Southwest Chief Executive Officer Gary Kelly said without specifying a number for a potential order. The CEO reaffirmed that the airline ...

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• 4 April

  Taco Bell plans ‘explosive growth’ in Australia after sales jump

  

  Bloomberg Taco Bell, increasingly focussed on global growth amid a saturated US market, is expanding Down Under. In November, the chain opened its first Australian restaurant in Brisbane, and it has exceeded management’s expectations, said Liz Williams, president of Taco Bell International. Sales are several million dollars higher than a typical unit, she said, declining to provide specifics. Now, Taco ...

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• 3 April

  Mother of the Nation Festival entertained 151,000 visitors

  

  Abu Dhabi / Emirates Business Organised by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), the third edition of Mother of Nation Festival has concluded with the event entertaining and delighting more than 151,000 visitors from across Abu Dhabi, the UAE and beyond with a highly interactive programme for the entire family to enjoy, including performances, ...

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• 3 April

  FANR board reviews operational activities at Barakah plant

  Abu Dhabi / WAM The Board of Management of the UAE Federal Authority for Nuclear Regulation (FANR), convened its second meeting in 2018 to review the progress of its operational activities and discuss its initiatives for the current year. During the meeting, the Board learned about the latest updates in its operating licence application for units 1 and 2 of ...

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