June, 2017

• 18 June

  Danish central bank cautions industry to brace for ‘setbacks’

  Bloomberg Despite half a decade of negative interest rates, Denmark’s banks are making more money than ever before. But the central bank in Copenhagen now says the industry is at risk of missing several warning signs that may be pointing toward another crisis, especially should interest rates suddenly rise. “There is every reason to watch out for speed blindness,” the ...

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• 18 June

  Japan’s largest bank prepares dramatic staff cuts

  

  Bloomberg Japan’s biggest bank is set to undergo the most dramatic reduction in headcount since it was formed after the nation’s banking crisis shook the industry almost 20 years ago. Mitsubishi UFJ Financial Group Inc. is considering eliminating about 10,000 positions — about 7 percent of its workforce — over a decade as low interest rates and intensifying competition squeeze ...

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• 18 June

  Malaysia Air’s 30 A330neos deal faces price bump

  

  Bloomberg Malaysia Airlines Bhd. has held discussions with Airbus SE about the purchase of A330neo wide-body jets but has so far been unable to agree a price for the planes. The carrier is also seeking clarity regarding other aspects of the transaction, including delivery schedules, Chief Executive Officer Peter Bellew said in an interview. There’s no likelihood of an order ...

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• 18 June

  Wal-Mart to acquire Bonobos as Amazon steals spotlight

  

  Bloomberg Wal-Mart Stores Inc. announced its long-awaited acquisition of online clothing seller Bonobos Inc., just in time to have Amazon.com Inc. steal the spotlight with its own deal. Wal-Mart will pay $310 million in cash for the apparel upstart, which focuses on fitted clothing for men. Andy Dunn, Bonobos’s founder and chief executive officer, will continue to oversee the brand ...

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• 18 June

  Ryanair evaluates biggest Boeing 737

  

  Bloomberg Ryanair Holdings Plc is evaluating ordering bigger versions of Boeing Co.’s 737 single-aisle workhorse in a move aimed at boosting capacity on its longest routes, which could put additional pressure on rivals. Europe’s largest discount airline is examining the business case for both the 737 Max 9 and Max 10, Chief Marketing Officer Kenny Jacobs said in an interview ...

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• 18 June

  Fingerprint scans may replace IDs at US airports

  Bloomberg Airline passengers may soon be able to put away their IDs and boarding passes at screening lines as the Transportation Security Administration begins an experiment to use fingerprints to ensure people’s identities. Passengers who are enrolled in PreCheck, the TSA program that gives travelers expedited screening, will be able to use their fingerprints at Atlanta’s Hartsfield-Jackson International and Denver ...

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• 18 June

  Cathay Pacific cargo haul, not passengers, helps win hearts

  

  Bloomberg It took about nine months for Cathay Pacific Airways Ltd. to win its first buy rating from an analyst. When the upgrade came, it was because of the airline’s cargo operations, not its five-star-rated passenger business. Jefferies Group LLC raised the rating on Cathay’s stock to buy this month, citing signs of a pullback in capacity expansion and improved ...

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• 17 June

  UAE team concludes participation in WSIS

  DUBAI / WAM A UAE official delegation, headed by the Telecommunications Regulatory Authority (TRA) has concluded its participation in the World Summit on the Information Society (WSIS) Forum. The forum was held at the International Telecommunication Union headquarters in Geneva, from June 13-16. During the forum the Khalifa Students Empowerment Programme ‘Aqdar’ won the WSIS Prize for ‘E-Safe School Online ...

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• 17 June

  Musafir.com signs pact with Amadeus to boost e-commerce

  DUBAI / Emirates Business Musafir.com, the UAE’s first home grown, premium-experience travel website, has signed a new regional GCC agreement with Amadeus, a leading technology partner in the global travel industry, to further enhance its e-commerce offering. The agreement will see Amadeus provide Musafir.com with its industry-leading business intelligence technologies.

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• 17 June

  Saudi ‘unawarded projects’ worth $250bn

  Dubai / Emirates Business Saudi Arabia has a pipeline of over $250bn worth of projects under development that have not yet seen their main construction contracts awarded, according to Saudi Arabia 2017: Delivering Vision 2030, a new report from business intelligence service MEED. According to the report, Saudi Arabia’s pipeline of unawarded projects accounts for about 39 per cent of ...

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