January, 2018

• 15 January

  Brookings urges India to ease regulations for new bank permits

  

  Bloomberg India should make it easier for new banks to open in the South Asian nation, according to a new report from the Brookings Institution. The Reserve Bank of India could consider easing rules for allocation of permits, including an initial capital requirement of 5 billion rupees ($79 million) and so-called priority sector lending targets, which include loans to farmers ...

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• 15 January

  JPMorgan bearish on pound despite Brexit breakthroughs

  Bloomberg The pound has hit the highest level since the Brexit vote in 2016, yet JPMorgan Chase & Co. remains relatively glum on its prospects. While recent Brexit developments have been constructive, the bank sees sterling failing to maintain its strength amid flagging economic fundamentals and a “non-negligible risk” that Brexit talks collapse. It sees the pound falling to $1.30 ...

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• 15 January

  Bundesbank to include yuan in currency reserves

  

  Bloomberg Germany’s central bank has decided to include the Chinese yuan in its own reserves, in a further boost to the international status of the currency. Speaking at an event in Hong Kong on Monday, Bundesbank board member Andreas Dombret said the decision was taken last year following an investment of 500 million euros ($611 million) by the European Central ...

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• 15 January

  Morocco to loosen currency peg to attract investors

  

  Bloomberg Morocco will loosen its currency peg in a long-awaited move aimed at strengthening its economy and avoiding financial imbalances that forced a slew of emerging nations into sharp devaluations. Bank al-Maghrib, as the central bank is known, will allow the dirham to fluctuate 2.5 percent above or below its official rate, significantly widening the band from 0.3 percent each ...

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• 15 January

  India to split its flag carrier into four parts ahead of sale

  

  Bloomberg India will break up its debt-burdened flag carrier into four separate companies and offer to sell at least 51 percent in each of them as part of a disinvestment proposed by Prime Minister Narendra Modi. The core airline business comprising Air India and Air India Express—the low-cost overseas arm—will be offered as one company, and the process will be ...

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• 15 January

  Airbus stakes future of A380 jumbo on new order from Emirates

  

  Bloomberg Airbus SE publicly questioned the future of the A380 for the first time, saying its flagship aircraft risks being shut down if the manufacturer fails to win a crucial order from the planemaker’s main backer, Emirates of Dubai. Emirates is the only airline with enough capacity to take enough planes to keep the programme alive, Airbus sales chief John ...

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• 15 January

  Montblanc sports watches now in Rolex price range

  

  Bloomberg Montblanc, the penmaker that began making Swiss watches two decades ago, is shoring up its credentials as it expands with sports models near the price range where Rolex Group and Breitling AG timepieces start. The brand, owned by Geneva-based luxury-goods maker Richemont, is introducing a line of Timewalker sports watches with a mountain-climbing theme this year after entering the ...

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• 15 January

  ‘Consumer boom’ proves real as holiday retail tops estimates

  

  Bloomberg The final numbers are in, and the past holiday season was indeed one of the best since the last recession—even if everyone didn’t partake in the good fortune. Sales rose 5.5 percent to $691.9 billion during November and December, the National Retail Federation said. The results exclude spending on cars, gas and restaurants. E-commerce and other sales that occur ...

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• 14 January

  Masdar buys stake in Montenegro wind farm

  

  ABU DHABI / WAM Masdar, Abu Dhabi Future Energy Company, on Sunday signed a Share Purchase Agreement (SPA) with Akuo Energy, the French IPP in renewable energy, to enter into the Krnovo Wind Farm, Montenegro’s first wind energy project. The agreement was signed by Niall Hannigan, Chief Financial Officer of Masdar, and Eric Scotto, Chief Executive Officer of Akuo Energy, ...

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• 14 January

  Positive sentiments rule UAE stock markets

  ABU DHABI / WAM The UAE stocks maintained their bullish trend on the first trading day of the week supported by the realty sector led by Emaar, which closed on a high note of AED7.30. The positive performance of the Dubai property giant reflected favourably on the entire real estate sector at DFM whose general index rose 0.53 percent, to ...

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