October, 2017

• 3 October

  Southeast Asia banks should amend environment policy, says WWF

  Bloomberg Banks and regulators in Southeast Asia should strengthen financial-sector rules and guidelines to promote funding for environment-friendly projects in a region threatened by deforestation and climate change, the World Wildlife Fund (WWF) said. Measures to promote sustainable finance in the region are “high level,” and don’t involve the incentives or penalties which would get banks to properly integrate environmental ...

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• 3 October

  UBS may employ 30 percent fewer staff in 10 years

  Bloomberg UBS Group AG could employ around 30 percent fewer staff in a decade as technological advances change banking, Chief Executive Officer Sergio Ermotti said in an interview with Bloomberg Markets. “We see a lot of contraction in the number of people in our industry,” he said. UBS, the world’s largest wealth manager, could shrink by that measure, including contractors, ...

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• 3 October

  Japan Air mulls more A350s as it adds India, N America routes

  

  Bloomberg Japan Airlines Co., which bought its first Airbus SE planes four years ago, is considering adding to its pending order of wide-body A350s as it seeks to increase routes to India and North America. The carrier has ordered 31 A350s scheduled for delivery starting 2019 and has options to buy 25 more. Japan Airlines may use some of these ...

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• 3 October

  Amazon’s Whole Foods lures new shoppers from Wal-Mart, Sprouts

  

  Bloomberg Amazon.com Inc.’s takeover of Whole Foods Markets has shaken the grocery business. Wal-Mart Stores Inc., Trader Joe’s and Sprouts Farmers Market Inc. may be hurting the most so far. Whole Foods’ foot traffic from new shoppers jumped 33 percent in the first week following Amazon’s acquisition, and Wal-Mart regulars accounted for the largest percentage of first-time customers, according to ...

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• 3 October

  Metro to sell assets as part of $3.6bn Jean Coutu purchase

  

  Bloomberg Canadian grocer Metro Inc. pledged to sell some assets to reduce its financing needs and retain its credit rating as part of a $3.6 billion purchase of pharmacy chain Jean Coutu Group Inc. Metro will pay C$24.50 a share in cash and stock for Jean Coutu, about a 6.1 percent premium to Jean Coutu’s price before the two companies ...

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• 3 October

  Ryanair adds fewest passengers since March

  Bloomberg Ryanair Holdings Plc added the fewest number of passengers in six months in September as the first of more than 20,000 flight cancellations prompted by a pilot shortage began to weigh on growth. The customer count rose by 1 million to 11.8 million, Ryanair said Tuesday, the smallest increment since the carrier added 900,000 passengers in March. The 9.2 ...

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• 3 October

  A rooftop pool is coming to the heart of JFK airport in NY

  

  Bloomberg There’s nothing even remotely glamorous about sleeping in an airport hotel. But in roughly 18 months, the opening of the TWA Hotel—a 505-room remastering of the spaceship-like Eero Saarinen terminal at New York’s John F. Kennedy International Airport—should change that. New renderings and design plans by MCR Development LLC, the developer and lead investor in the project, reveal exciting ...

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• 2 October

  UAE announces fines for new tax violations

  

  Dubai / WAM The UAE Council of Ministers has adopted Cabinet Decision No.39 of 2017 on Fees for Services Provided by the Federal Tax Authority and Cabinet Resolution No.40 of 2017 on Administrative Penalties for Violations of Tax Laws in the UAE. The council’s meeting was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ...

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• 2 October

  DP World to develop infrastructure and logistics blueprint for Mali

  DUBAI / WAM The President of Mali, Ibrahim Boubacar Keita, met DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, to discuss a trade and logistics master plan to unlock the resource rich country’s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes, replicating DP World’s successful model with Dubai Trade at its flagship ...

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• 2 October

  GCC to explore opportunities at Africa investment forum

  Dubai / Emirates Business More than 400 decision-makers, including government officials and business leaders, will meet in Dubai this week to discuss foreign investment opportunities in Africa during ALN’s (formerly Africa Legal Network) 4th Annual International Conference – ‘Africa: Bridging the Gulf’ from October 4-5 at the Park Hyatt, Dubai, UAE. The invite-only event is set to bring together a ...

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