October, 2017

• 1 October

  FTSE decisions hurt Saudi, boost Kuwait blue chips

  

  Reuters The Saudi stock index fell on Sunday after news that index compiler FTSE had decided to delay including Riyadh in its secondary emerging market index, while Kuwaiti blue chips were strong after FTSE included Kuwait. In its annual country classification review, FTSE praised Riyadh’s market reforms but said it would need more time to evaluate their practical impact. It ...

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• 1 October

  S Korea’s exports surge on steel, semiconductors

  

  Bloomberg South Korean exports surged to a record last month in the latest sign that stronger global trade is helping to underpin growing momentum for the global economy. The nation’s shipments abroad rose for an 11th month in September, driven by overseas demand for steel, semiconductors and petrochemical products. Exports jumped 35 percent from a year earlier, the trade ministry ...

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• 1 October

  PBOC unveils targeted lending plan to aid economic growth

  

  Bloomberg China’s central bank said it will reduce the amount of cash lenders must hold as reserves from next year, with the size of the cut linked to the flow of funding to parts of the economy where credit is scarce. The targeted measures apply to all major banks, 90 percent of city commercial banks, and 95 percent of rural ...

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• 1 October

  Citigroup up against Apple, Google in hunt for tech experts

  

  Bloomberg Citigroup Inc. is hiring another 50 engineers in Israel, where fierce competition from technology giants is frustrating efforts to expand a workforce that already employs more programmers than bankers. The bank is recruiting developers in fields such as big data, artificial intelligence and interface design for its tech lab, a division set up in 2011 to service the global ...

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• 1 October

  Mashreq unveils digital bank in UAE

  

  DUBAI / Emirates Business Mashreq Bank on Sunday launched Mashreq Neo, a new full-service digital bank to cater to the day-to-day needs of a world on the move. The new digital bank, which will be completely branchless, is targeted towards the connected generation who are digitally savvy, use mobile devices extensively, and will immerse users in a brilliant digital experience. ...

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• 1 October

  Kuwait could prompt inflows worth $700mn from investors

  

  Bloomberg Kuwait’s graduation to emerging-markets classification by index compiler FTSE Russell could prompt inflows of as much as $700 million from investors, according to the money manager run by the nation’s largest lender. The Gulf country won inclusion in FTSE Russell’s list during the weekend, rewarding efforts by local regulators and the stock exchange to modernize trading systems and attract ...

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• 1 October

  Paying $15 to send $25 has bitcoin users rethinking practicality

  

  Bloomberg Ryan Charles recently switched his business, the social platform Yours Inc., from using bitcoin — simply because he couldn’t afford it. Fees for sending money over the distributed-ledger network have risen nearly 19-fold, from 13 cents per average transaction in the second quarter of 2016 to $2.40 in the same quarter of this year, according to researcher CoinDesk. While ...

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• 1 October

  American to pack in more seats in $1.4bn sales push

  

  Bloomberg American Airlines Group Inc. will add more seats to some of its single-aisle jetliners as part of an effort to boost sales by $1.4 billion in the next four years. It’s also targeting $1 billion in cost savings. The carrier’s Boeing Co. 737-800 jets will be revamped to fit 12 more passengers while the Airbus SE A321 planes will ...

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• 1 October

  Southwest Airline may take $100mn hit from hurricanes, earthquakes

  

  Bloomberg Southwest Airlines Co. said third-quarter sales will take a $100 million blow from this year’s devastating hurricanes and earthquakes. About 5,000 flights had been canceled through Wednesday because of the natural disasters, the carrier said in a statement. Southwest also pared its outlook for revenue from each seat flown a mile, saying the benchmark gauge would be little changed ...

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• 1 October

  There’s life in C Series despite US ruling, says Bombardier

  

  Bloomberg Bombardier Inc. remains confident that it will win orders for its C Series jetliner this year, even after losing a ruling in a trade battle with Boeing Co. that essentially shuts off the US market. “We’re working opportunities in many, many continents,” Colin Bole, senior vice president for sales at the Montreal-based company’s commercial aircraft unit, said. “I’m still ...

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