July, 2017

• 17 July

  Yuan set for longest run of gains since 2015

  

  Bloomberg The onshore yuan rose for the sixth day in a row, the longest run of gains since 2015, boosted by a stronger central bank fixing and data showing China’s economy held up in the second quarter. The yuan gained 0.05 percent to 6.7704 per dollar as of 5:14 p.m. in Shanghai, extending its six-day advance to 0.5 percent. This ...

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• 17 July

  Barclays-Qatar trial scheduled for 2019

  

  Bloomberg Four former Barclays Plc executives will stand trial in January 2019 on allegations they conspired to commit fraud over the bank’s 2008 fundraising with Qatar, a London judge said. The trial date was set at a hearing on Monday where former Chief Executive Officer John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath all appeared at Southwark Crown Court. ...

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• 17 July

  BlackRock to launch private fund in China

  Bloomberg BlackRock Inc., the world’s largest money manager, said it is preparing to start a private fund in China after the nation opened the market wider to global players. The firm plans to set up a wholly foreign-owned enterprise (WFOE) first for its private fund business in the nation, according to Chen Ting, general manager at BlackRock Overseas Investment Fund ...

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• 17 July

  Sweden’s banks are adding risk weights to govt bonds

  

  Bloomberg It was the elephant in the room throughout Europe’s debt crisis, but ultimately too sensitive an issue for supervisors to fiddle with. Regulations have historically implied that government bonds are risk-free. But Greece’s near-death experience quickly made a mockery of that assertion. Now, Sweden is taking the next step and banks in the country are starting to assign risk ...

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• 17 July

  Emirates, flydubai to deepen ties with code share pact

  

  DUBAI / Reuters Emirates, the Middle East’s largest airline, and budget carrier flydubai are expanding their commercial relationship to create a combined fleet of 380 jets flying to as many as 240 destinations by 2022. The airlines, both owned by the government of Dubai, said in a statement on Monday their expanded partnership would be rolled out over the coming ...

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• 17 July

  EasyJet CEO quits to join UK broadcaster

  

  Bloomberg EasyJet Plc announced on Monday that Chief Executive Officer Carolyn McCall is stepping down from the discount carrier to take up the same role at broadcaster ITV Plc, according to a person familiar with the matter. McCall told the airline’s board of her decision Sunday, according to the person, who asked not to be identified discussing the switch. McCall ...

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• 17 July

  Travellers flock to one-way flights as price premium dwindles

  

  Bloomberg Travellers are purchasing more one-way flights as the price premium declines compared with round trips, according to Airlines Reporting Corp., which analyzes fare data. One-way jaunts have expanded to 42 percent of air travel so far this year, up from 29 percent three years ago, ARC said. The price drop is especially pronounced on leisure routes, with corporate travel ...

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• 17 July

  Amazon food ambitions spur stock to best IPO return

  

  Bloomberg Amazon.com Inc.’s deal to buy Whole Foods Markets Inc. was a catastrophe for countless stocks, as concern about market disruption wreaked havoc on retailers and REITs. But for holders of a newly listed technology stock, it’s adding fuel to an already-stellar run. Impinj Inc., whose so-called radio-frequency identification technology allows users to tag and track data on products, is ...

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• 16 July

  Abu Dhabi world’s second best city to live, work

  

  ABU DHABI / WAM Abu Dhabi has been named the second-best city in the world to live, work and do business in, overtaking both London and Paris and moving up two places since the last Ipsos City Index. More than 18,000 people, aged between 16 and 64, in 26 countries worldwide were interviewed for the Index, with New York maintaining ...

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• 16 July

  UAE stocks gain AED4.1 billion

  

  ABU DHABI / WAM The UAE equity markets on Sunday continued their bullish trend which started last week, with the positive mood prevailing over all sectors led by the property market which posted robust growth in the run-up towards the announcement of the 2017 H1 financial results by leading companies. With the market capitalisation of trading companies gaining AED4.1 billion, ...

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