February, 2018

• 10 February

  Egypt inflation falls to lowest levels since currency float

  CAIRO / Reuters Egypt’s annual inflation rates dropped in January to their lowest levels since the country floated its currency in November 2016, official data showed. The Egyptian pound lost half of its value and prices shot up after Egypt floated the currency in November 2016 to secure a $12 billion IMF deal to revive its economy. Annual urban consumer ...

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• 10 February

  Bitcoin finds a bottom as risk aversion grips global markets

  

  Bloomberg What’s supposed to be the most volatile asset in the universe is proving to be a bastion of stability compared with wild swings and carnage in global equities this week. Bitcoin clawed its way back from the four-month low of $5,922 it touched, rebounding 53 percent to $9,069. The S&P 500 Index and the Dow Jones Industrial Average both ...

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• 10 February

  Credit Suisse asks staff to consider leave or sabbatical

  Bloomberg Credit Suisse Group AG has told some teams in Switzerland to consider taking a leave of absence or a sabbatical, adding to signs that the bank’s Swiss unit is under pressure to meet targets for the year, people with knowledge of the matter said. Bankers were told now is the ideal time for an unpaid or extended absence as ...

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• 10 February

  BOE’s Cunliffe says UK role as financial center not tied to EU

  Bloomberg The UK’s position as a major global financial hub doesn’t depend solely on being part of the European Union’s single market, said Bank of England Deputy Governor Jon Cunliffe. In a speech in California, Cunliffe said that less than 20 percent of assets managed in the UK are domiciled in the rest of the EU. Meanwhile, British firms manage ...

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• 10 February

  China’s C919 designed to beat Airbus, Boeing off to a slow start

  

  Bloomberg China’s first airliner designed to compete with Airbus and Boeing is off to a slow start. After the fanfare surrounding the C919’s maiden flight in May, the single-aisle plane didn’t fly again for four months and the two test aircraft have only made about two dozen flights since, well below the normal schedule for a new commercial jet. The ...

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• 10 February

  HondaJet sees huge potential in China, Southeast Asia

  

  Bloomberg HondaJet, the business aircraft developed by Honda Motor Co., sees big prospects in China and Southeast Asia as wealthy individuals seek out the lightweight plane as an efficiency tool. There’s a “huge potential,” Honda Aircraft Co. Chief Executive Officer Michimasa Fujino said in an interview with Bloomberg Television’s Haslinda Amin at the Singapore Airshow. “I’m looking at the next ...

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• 10 February

  HNA’s Hainan Air business model is viable: AerCap CEO

  

  Bloomberg AerCap Holdings NV, the aircraft-leasing company, is willing to work with Hainan Airlines Holding Co. given its viable business model even as its parent HNA Group Co. comes under intense pressure to repay mounting debts. “We’re working very closely with the Hainan group of course at the moment,” AerCap Chief Executive Officer Aengus Kelly said in an interview with ...

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• 10 February

  Delhi, Mumbai airport fliers surge as travel growth takes off

  Bloomberg Asia, home to some of the world’s fastest growing economies, is seeing some of the biggest passenger growth rates in its airports. India in particular. Among those handling more than 40 million passengers annually, New Delhi took the lead with the number of travelers rising 21 percent in 2016, according to the latest available data from Airports Council International. ...

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• 10 February

  Tesco faces equal-pay case that seeks up to $5.6 billion

  

  Bloomberg As the UK forces companies to disclose the gap between men’s and women’s pay, the country’s biggest private employer is confronted with a massive demand from workers feeling short-changed. Supermarket chain Tesco Plc has been presented with claims that law firm Leigh Day says could eventually total as much as 4 billion pounds ($5.6 billion). The firm contends that ...

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• 6 February

  Beauty & personal care market in MEA set to reach $35.9bn in 2018

  

  DUBAI / Emirates Business The rise of natural and niche brands coupled with increasing digital engagement will be among the key trends at Beautyworld Middle East 2018, as the countdown begins to the 23rd edition of the region’s largest trade fair for beauty products, hair, fragrances, and wellbeing. According to analysts Euromonitor International (EMI), the retail value of the Middle ...

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