June, 2017

• 5 June

  RBA becomes lonely rate-cut candidate on Aussie growth doubts

  Bloomberg A month can be a long time in economics. Since the Reserve Bank of Australia’s (RBA) last policy decision on May 2, market bets on an interest-rate cut by the end of this year have doubled. While that chance is still only about 20 percent, swaps traders see Australia as one of just two developed economies where cuts are ...

  Read More »
• 5 June

  Japan’s second-largest bank has to run just to stand still

  

  Bloomberg In the era of negative interest rates, Japan’s second-largest bank finds itself having to run just to stand still. Takeshi Kunibe, who took over as chief executive officer at Sumitomo Mitsui Financial Group Inc. (SMFG) in April, has set a new net-income target of about 700 billion yen ($6.3 billion) in the year ending March 2020. That’s roughly the ...

  Read More »
• 5 June

  Gulf carriers suspend all flights to and from Qatar

  

  WAM/ Reuters Etihad Airways announced that it will suspend all flights to and from Qatar until further notice, joining other regional carriers in a similar move amid a diplomatic spat between Qatar and some of its Gulf neigbhours. The move came after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar on Monday, accusing it ...

  Read More »
• 5 June

  Jet Airways in talks to buy 50 single-aisle jets worth $5.6 billion

  

  Bloomberg Jet Airways India Ltd., the country’s biggest full-service carrier, is in talks to buy 50 narrowbody jets worth at least $5.6 billion on top of a pending order for Boeing Co. 737 Max aircraft, a person with direct knowledge of the plan said. The most likely model the airline is considering is the 737 Max, though it is also ...

  Read More »
• 5 June

  Telkom raises dividend by 56% as carrier enters next growth phase

  

  Bloomberg Telkom SA SOC Ltd. said full-year earnings and the dividend both rose as South Africa’s biggest landline provider enters a new phase of growth by giving more autonomy to its four business units. Earnings per share excluding one-time items increased by 12 percent 7.31 rand in the year through March, the Pretoria-based company said in a statement on Monday. ...

  Read More »
• 5 June

  Delta poised to regain power over airfares

  Bloomberg Delta Air Lines Inc. is finally showing a return to pricing power after a two-year slump, leading stocks to climb across the industry. Passenger revenue for each seat flown a mile rose 3.5 percent in May, the second-biggest US carrier said. The increase showed that Delta is on track for a 3 percent gain this quarter in the benchmark ...

  Read More »
• 5 June

  Lululemon gains most in 6 months as sales begin to recover

  

  Bloomberg Lululemon Athletica Inc. kicked off its biggest rally in almost six months after pulling out of a slump and announcing plans to revamp its line of girls’ apparel. After slow sales spooked investors earlier this year — a problem that Chief Executive Officer Laurent Potdevin blamed on poor web traffic and a dull product assortment — the company posted ...

  Read More »
• 5 June

  Canada Goose defies brick-and-mortar gloom

  

  Bloomberg Canada Goose Holdings Inc., making a retail push during a shaky time for the industry, said its first two brick-and-mortar stores have “far surpassed” expectations, contributing to stronger results in its inaugural quarter as a public company. Sales gained 22 percent last quarter, the maker of down parkas and other luxury goods said. While the Toronto-based company posted a ...

  Read More »
• 4 June

  Abu Dhabi’s trade in pearl, gemstones hits AED4.7bn

  

  ABU DHABI / Agencies The total value of Abu Dhabi’s trade in pearl, gemstones and precious metals amounted to AED4.7 billion during the Q1 of 2017 from AED3.3 billion during the corresponding period last year, a growth of 42.4 percent, according to figures released by Abu Dhabi Statistics. The growth is driven by entrepot, including the non- oil commodities coming ...

  Read More »
• 4 June

  FAB named best financing bank in Mideast

  DUBAI / WAM First Abu Dhabi Bank (FAB) has been named ‘Best Bank for Financing in the Middle East’ and ‘Best Investment Bank in the United Arab Emirates’ at the prestigious 2017 Euromoney Middle East Awards for Excellence. The Euromoney Awards for Excellence, now in their 26th consecutive year, were the first of their kind in the global financial publishing ...

  Read More »