May, 2017

• 22 May

  Peach Japan’s first airline to accept payment in Bitcoin

  

  Bloomberg Peach Aviation Ltd. will become the first Japanese carrier to accept bitcoin as payment for airline tickets as the discount airline aims to attract more tourists from other parts of Asia. The cryptocurrency can be used to book seats starting by the end of the year, Peach said in a statement in Tokyo, adding a change in Japan’s law ...

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• 22 May

  Canada calls Boeing’s trade challenge ‘lousy customer ties’

  

  Bloomberg Boeing Co.’s pursuit of a trade complaint against Canadian rival Bombardier Inc. at a time it’s negotiating with the government on a major sale of military aircraft is “lousy customer relations,” Canada’s ambassador to the US said. Boeing alerted Canada shortly before the company petitioned the US to probe whether Bombardier’s C Series aircraft is being sold at unfairly ...

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• 22 May

  In surprise move, Egypt central bank hikes key interest rates

  

  CAIRO/ Reuters Egypt’s central bank raised its key interest rates by 200 basis points, citing stronger economic growth and falling unemployment, confounding the expectations of economists who forecast rates were unlikely to change. At a meeting of its Monetary Policy Committee, the bank hiked its overnight deposit rate to 16.75 percent from 14.75 percent and its overnight lending rate to ...

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• 22 May

  RBS trial delayed over 2008 rights issue

  

  Bloomberg Royal Bank of Scotland Group Plc’s (RBS) trial over its 2008 rights issue will be postponed for at least a day as investors suing the bank weigh an improved settlement offer. The bank doubled its offer as Chief Executive Officer Ross McEwan staged a last-minute personal intervention, according to a person with knowledge of the matter, who asked not ...

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• 22 May

  Emirates NBD honoured for its efforts towards ‘People of Determination’

  

  Dubai / Emirates Business Emirates NBD, a leading banking group in the region, was recognised by The Higher Committee for the Protection of the Rights of Persons with Disabilities (People of Determination), chaired by His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum. The bank was appreciated for its efforts in disability mainstreaming and initiatives that focus on the ...

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• 22 May

  Barclays to hire 100 staff in private banking push

  

  Bloomberg Barclays Plc plans to recruit 100 staff for its private bank as Chief Executive Officer Jes Staley pushes to expand wealth management in key global hubs, according to a person familiar with the strategy. The bank is searching for relationship managers and administrative staff for the division serving its wealthiest clients, said the person, who asked not to be ...

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• 22 May

  Aussie banks start to detail cost of levy, step up criticism

  

  Bloomberg Four of Australia’s biggest lenders gave estimates of how much Australia’s new bank levy will cost them, as they stepped up criticism of the policy and vowed again to pass on the extra charges. Westpac Banking Corp. said the levy will cost it an annual A$260 million ($194 million) after tax, while Commonwealth Bank of Australia estimated A$220 million ...

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• 22 May

  ‘Momentum investing may work in commodities’

  Bloomberg Momentum investing may work in commodities, according to Goldman Sachs Group Inc., which said that returns from raw materials may benefit significantly from following the strategy that’s based on backing past winners and eschewing or betting against losers. “Commodities can benefit significantly from momentum investing although the gains are neither uniform across commodities nor constant over time,” analysts including ...

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• 21 May

  Boeing inks defense, commercial deals with Saudi Arabia

  DUBAI / Reuters Boeing Co said on Sunday it had signed several defense and commercial deals with Saudi Arabia including for the sale of military and passenger aircraft during a visit by US President Donald Trump to the kingdom. The announcement is the latest in tens of billions of dollars in deals signed between US and Saudi firms since Trump ...

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• 21 May

  Dubai retail sector sees robust commercial activities in Q1

  

  Dubai / WAM The Business Registration and Licensing (BRL) sector in Dubai Economy has issued 5,646 commercial permits during the first quarter (Q1) of 2017 as the emirate witnessed hectic commercial activity during the period. Advertising accounted for the largest share of 28 percent with 1,604 permits while the emirate’s flagship retail sector stood second with 1,387 permits, or 24 ...

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