May, 2017

• 2 May

  Euro-area factories expand at fastest pace in six years

    Bloomberg Euro-area factories expanded output at the fastest pace since 2011 as the currency bloc’s economy continued to gather momentum. A gauge of manufacturing activity rose to 56.7 in April from 56.2 the previous month, IHS Markit reported. An April 21 preliminary estimate was for an increase to 56.8. With the European Central Bank showing little hurry to end ...

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• 2 May

  Italian joblessness up as more seek work

    Bloomberg Italy’s unemployment rate unexpectedly increased in March as the number of people looking for a job rose and the pace of economic growth could not satisfy their demand. Joblessness climbed to 11.7 percent from 11.5 percent in February, statistics agency Istat said in Rome. The median estimate in a Bloomberg survey of 12 analysts called for a reading ...

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• 2 May

  Boeing set to deliver first jets to Iran in 2018

  

    Bloomberg Boeing Co. is making ‘steady progress’ to complete the terms of an 80-jetliner sale to Iran Air and expects to deliver the initial planes next year, the first US aircraft exports to Iran since the country’s revolution in 1979. “That remains on track,” Chief Executive Officer Dennis Muilenburg told reporters Monday following the planemaker’s annual general meeting in ...

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• 2 May

  Australia to build new Sydney airport

  

    Bloomberg Australia’s government said it will build a long-awaited second airport for Sydney after the operator of the city’s existing hub ruled out developing the project because of the “considerable” risks to shareholders. Details of the plan for Western Sydney Airport will be unveiled in the budget next week, Prime Minister Malcolm Turnbull said in an emailed statement Tuesday. ...

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• 2 May

  Alitalia’s bankruptcy proceedings begin

  

    Bloomberg Alitalia SpA started bankruptcy proceedings for the second time in a decade after workers rejected job cuts and concessions linked to a 2 billion-euro ($2.2 billion) recapitalization plan aimed at salvaging the cash-strapped Italian airline. Shareholders voted unanimously to file for special administration, the carrier said in a statement following a meeting on Tuesday. Under Italian law, the ...

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• 2 May

  Barclays crowned Middle East’s ‘Best Foreign Investment Bank’

  

    Dubai / Emirates Business In recognition of its continued leadership in the Investment Banking space, Barclays has been crowned ‘Best Foreign Investment Bank’ in the Middle East by EMEA Finance, a leading banking and finance publication specialising in Europe, Middle East and Africa. The judging panel’s decision to name Barclays as ‘Best Foreign Investment Bank in the Middle East’ ...

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• 2 May

  Australia holds rates as inflation speeds up

    Bloomberg Australia kept interest rates unchanged as faster inflation and signals of looming fiscal stimulus combine with an upswing in global growth. “Above-trend growth is expected in a number of advanced economies,” Reserve Bank of Australia Governor Philip Lowe said in a statement announcing the decision on Tuesday. “The improvement in the global economy has contributed to higher commodity ...

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• 2 May

  Fidelity Bank looks to bumper Nigeria yields to boost profit

    Bloomberg Fidelity Bank Plc expects profit to rise by 30 percent this year as it benefits from investments in high-yielding Nigerian government debt and improving supplies of foreign exchange, even after the country’s economy declined for the first time in 25 years. Fidelity is able to buy Nigerian 10-year bonds that yield more than 16 percent, the second-highest among ...

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• 2 May

  ICBC’s quarterly profit surges 75.7bn yuan

    Bloomberg Industrial & Commercial Bank of China Ltd., (ICBC) the world’s largest lender by assets, reported its strongest quarterly profit growth in two years as soured credit and lending margins stabilized amid an uptick in the economy. Net income rose 1.4 percent to 75.79 billion yuan ($11 billion) in the three months ended March 31 from 74.76 billion yuan ...

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• 1 May

  UAE public, private sector deposits reach AED41.4bn

  

    ABU DHABI / WAM The statistics by the UAE Central Bank affirmed improved operating efficiency, with public sector deposits up by AED23.8 billion at the end of Q1 2017, while the private sector deposits stood at AED17.6 billion over the same period, bringing to AED41.4 billion ($11.27bn) the two sectors’ total deposits. Credits offered to the trade and industrial ...

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