July, 2017

• 9 July

  Consumer stocks tipped to unlock Saudi earnings-season gains

  

  Bloomberg Investors looking to back winners in Saudi Arabia’s second-quarter earnings season should focus on consumer and retail companies rather than petrochemicals, analysts in the region say. Extra spending by Saudis after the government’s June 21 decision to reverse a cut to state salaries and benefits, and increased food sales for feasts related to the holy month of Ramadan should ...

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• 9 July

  ‘Bonds are winning,’ says PGIM as JPMorgan warns of complacency

  

  Bloomberg The slower-than-expected increase in worker pay shows that investors should feel safe in Treasuries, even after yields jumped in the past two weeks, according to PGIM’s Robert Tipp. ‘Bonds are winning,’ Tipp, the chief investment strategist at PGIM Fixed Income, said on Bloomberg Television’s ‘Real Yield’ program. “The fact we haven’t had wage growth is really exceptional. I think ...

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• 9 July

  Singapore to delay market risk rules for banks

  

  Bloomberg Singapore’s banking regulator has told lenders it will delay the implementation of global rules designed to rein in trading risks by a year, Reuters reported. The Monetary Authority of Singapore notified local banks of the delay to the so-called ‘fundamental review of the trading book,’ or FRTB, in a letter last month that also flagged a number of other ...

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• 9 July

  Deutsche employee morale to steady after 3-year drop

  

  Bloomberg Morale among Deutsche Bank AG employees is showing signs of steadying after declining for three consecutive years, according to a person familiar with the company’s survey. Staff commitment to the Frankfurt-based lender was mostly unchanged from last year, at about 58 percent, the person said, asking not to be identified discussing the results. The survey, conducted in April and ...

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• 9 July

  Tesco Bank CEO to retire next year

  Bloomberg Tesco Bank, the lending arm of the UK’s biggest grocer, said Chief Executive Officer Benny Higgins plans to retire next year after almost 10 years in the role. Higgins, who has led the bank since it became a wholly-owned subsidiary of Tesco Plc at the height of the financial crisis in 2008, will depart in February. He declined to ...

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• 9 July

  Thailand’s central bank holds rate near record low

  

  Bloomberg Thailand’s central bank held its benchmark interest rate near a record low, seeking to preserve policy room despite signs that the economy is heading deeper into deflation again. The one-day bond repurchase rate was left at 1.5 percent, with monetary policy committee members voting unanimously in favor, the Bank of Thailand said in Bangkok. All 21 economists surveyed by ...

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• 9 July

  Bank-disposal chief says Italy aid shows failure-rule flaws

  

  Bloomberg Bank failures in Italy and the drawn-out rescue of Banca Monte dei Paschi di Siena SpA revealed the frayed edges in Europe’s patchwork of rules for dealing with firms in crisis, and fixes are needed to make the system work as intended, according to Elke Koenig, who makes the call on saving or shuttering major euro-area lenders. “Let’s try ...

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• 9 July

  Air France-KLM summer bookings show ‘healthy rise’

  

  Bloomberg Air France-KLM Group signaled that a turnaround that began early this year is continuing as summer bookings rise and tourists from Asia and the US return to France after staying away in 2016. “The second quarter is good and the bookings for this summer are also quite positive compared to last year,” Jean-Marc Janaillac said in an interview at ...

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• 9 July

  Etisalat launches NB-IoT and LTE-M technology

  Abu Dhabi / Emirates Business Etisalat on Sunday announced its commercial launch of NB-IoT and LTE-M technologies becoming the first operator in the MENA region to offer these new technologies enabling variety of solutions and services. Both NB-IoT (Narrowband Internet of Things) and LTE-M (Long Term Evolution for machines) technologies are 3GPP (3rd Generation Partnership Project) based standardized technologies using ...

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• 9 July

  Police raids Korean Air office over funds ‘misuse’

  

  Bloomberg South Korea’s police raided the head office of Korean Air Lines Co. in Seoul to probe alleged misuse of company funds, the first crackdown on a major local conglomerate after President Moon Jae-in came to power in May. Police are investigating allegations that Chairman Cho Yang-ho, the head of Hanjin Group that controls Korean Air, had interior work done ...

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