August, 2017

• 12 August

  BOE tightens up its conflicts procedures

  Bloomberg The Bank of England will strengthen its conflict-of-interest checks as part of its response to the controversy surrounding the resignation of former Deputy Governor Charlotte Hogg after just weeks in the role. Clarity about conflict-approval processes will be improved after a review found ambiguities in BOE policies as well as shortcomings in its systems that heightened the risk of ...

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• 12 August

  UBS, stung by China defections, rehires Chin from retirement

  

  Bloomberg UBS Group AG has brought David Chin out of retirement to run its investment bank in Asia, as it seeks to stem a wave of defections of China-focused bankers. Chin will become UBS’s head of corporate client solutions for the Asia-Pacific region, replacing Sam Kendall, who will relocate to New York as head of global equity capital markets, according ...

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• 12 August

  Bombardier C Series eyes Europe, US after UK boost

  

  Bloomberg Bombardier Inc. is pitching its C Series jetliner for trans-Atlantic operations as the Canadian planemaker pursues a new wave of orders, buoyed by the start of flights from London City airport. The European routes operated by Deutsche Lufthansa AG’s Swiss arm should demonstrate the plane’s abilities to potential buyers and help advance the possibility of services to the US ...

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• 12 August

  EasyJet pilots appeal to founder over cost cuts

  

  Bloomberg EasyJet Plc’s French pilots have appealed to Stelios Haji-Ioannou, the UK discount carrier’s founder and biggest shareholder, to intervene in a dispute with management over the impact of cost cuts. The SNPL union wrote to Stelios, who goes by his first name, complaining that the Luton, England-based company’s Lean savings program has led to flight cancellations, delays in the ...

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• 12 August

  SoftBank Fund to invest $2.5bn in Flipkart

  

  Bloomberg SoftBank Vision Fund will invest about $2.5 billion in Flipkart Group, swelling the Indian e-commerce players’ cash hoard as it vies with Amazon.com Inc., people familiar familiar with the matter said. The investment includes approximately $1.5 billion directly into Flipkart and $1 billion for part of Tiger Global Management’s stake, the people said, asking not to be identified discussing ...

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• 12 August

  Pissed off: A new way to tell your airline you hate it

  

  Bloomberg Our perpetual smartphone texting is strictly personal: Friends, family, and maybe an ex. We almost never text the myriad businesses we patronize in daily life, though some of them are starting to text us. Now, airlines—an industry not known for stellar customer interactions—are joining the party, and not just to break the bad news about your flight. They’re inviting ...

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• 9 August

  Cash flow increases by AED5.1bn in H1

  ABU DHABI / WAM The cash flow circulating on the UAE market by UAE nationals and residents, including individuals and corporations alike, gained AED5.1 billion during H1 2017, bringing to AED67.4 billion the money supply circulating outside the banking sector by the end of June, according to UAE Central Bank statistics. On a YOY basis, the liquidity available outside banks ...

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• 9 August

  UAE-China trade exchange hits AED520.6bn in 3 years

  

  Abu Dhabi / WAM China continues to top the list of UAE’s major trade partners for the third straight year, with total bilateral trade exchange amounting to AED520.6 billion from 2014 through 2016, according to Ministry of Economy statistics. India came second followed by the USA, while the Kingdom of Saudi Arabia came fourth and then Germany fifth. Despite the ...

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• 9 August

  Abu Dhabi Airports gets UAE’s first AFIS certification

  Abu Dhabi / WAM Abu Dhabi Airports has been awarded the UAE’s first Aerodrome Flight Information Services (AFIS) certification from the General Civil Aviation Authority (GCAA), for Sir Bani Yas Airport. AFIS is provided at airfields where flight information is required, but where the aircraft traffic does not warrant having a full Air Traffic Control service. AFIS can provide information ...

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• 9 August

  Nakheel awards AED430mn contracts for Deira Islands

  Dubai / WAM Master developer Nakheel has awarded four contracts, collectively valued at more than AED430 million, for Deira Islands’ new 15.3 square km waterfront city currently under construction in Dubai. The contracts, covering islands A and B of the four-island development, are for a sewage treatment plant, a district cooling plant, a substation and piling work for an 800-room ...

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