November, 2016

• 27 November

  Indian central bank takes steps to curb rising bank liquidity

  

    Bloomberg The Reserve Bank of India told lenders to set aside more deposits as reserves to curtail surging banking system liquidity that risks stoking inflation. Banking system funds have surged after Prime Minister Narendra Modi banned 500 rupee ($7.30) and 1,000 rupee notes in a bid to curb graft and ordered people to deposit the money in banks. That ...

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• 27 November

  Argentina banks zero in on tax evaders’ $7bn

  

    Bloomberg One of the biggest priorities for Argentina’s banks will be convincing tax evaders who accepted an amnesty deal and declared $7 billion of cash to keep their money in the country, said BBVA Banco Frances SA Chief Executive Officer Martin Zarich. Argentines can choose to either pay a 10 percent fine, or buy into government bonds and closed-end ...

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• 27 November

  Nordic Bank chairman predicts better times

  

    Bloomberg The chairman of the biggest Nordic bank says Donald Trump’s election win is good news for the US economy, thanks to the real estate mogul’s pledge to deliver tax cuts and deregulation. “Based on the expectation that the American President and Congress are likely to act on taxes, and perhaps on regulation as well, I think there is ...

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• 27 November

  Zimbabwe’s bond notes to help ease currency crunch

  

    Bloomberg Zimbabwe will release dollar-backed bond notes with a daily withdrawal limit of $50 on November 28, the central bank said, as the Southern African nation grapples with a shortage of currency. “The bond notes will be released into the market through normal banking channels in small denominations of $2 and $5 to fund export incentives of 5 percent ...

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• 27 November

  Payments company Stripe doubles valuation to $9bn

  

    Bloomberg Stripe Inc. raised new financing that values the startup at about $9 billion, cementing its status as a major player in the crowded digital payments space and heralding a possible initial public offering. CapitalG, the late-stage investment arm of Alphabet Inc., and venture capital firm General Catalyst Partners led the $150 million round, with participation from existing investors ...

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• 27 November

  Goldman raises WTI price forecast

    Bloomberg Goldman Sachs Group Inc. raised its oil-price forecast for early next year, while Russia, Iran and Iraq separately signaled optimism that producer nations will be able to reach a deal to limit output at OPEC’s next meeting on November 30. Goldman is now “tactically bullish” on the likelihood of an OPEC agreement and expects oil prices in New ...

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• 27 November

  AirAsia’s new lease of life risks an erosion of income

  

    Bloomberg How do airlines make money? You might be tempted to answer, “by selling plane tickets.” But it’s rarely as simple as that. Take AirAsia Bhd., the Malaysian budget carrier that reported third-quarter results on Thursday. It’s become so dominant in Southeast Asia that rivals have started ganging up on it. Yet you have to go back as far ...

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• 27 November

  BOTler to help customers with the best of UK

  

    Dubai / Emirates Business British Airways launched its new British Airways BOTler, a personal Facebook Messenger BOT that serves customers with a ‘best of the best’ guide to travelling to London this winter. In highlighting numerous reasons to visit the UK capital this winter season, the British Airways BOTler will offer live updates on exclusive deals and personalised recommendations ...

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• 27 November

  UK supermarket hits back in name row

    London / AFP British supermarket Iceland hit back at Iceland the country after Reykjavik said it was suing the retailer over use of the Nordic nation’s name. The frosty response came after the government of Iceland complained Thursday that the British supermarket had “aggressively pursued and won multiple cases against Icelandic companies” that use the word “Iceland” as part ...

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• 27 November

  Home Centre to open flagship store at Mall of the Emirates in Dubai

  

    Dubai / Emirates Business Home Centre’s flagship store at Mall of the Emirates (MOE) is receiving a mega makeover to reflect the brand’s vision for the future, meticulously integrating customer feedback as evidenced in a UAE-wide in-depth research conducted by the largest home retailer in the Middle East. The store is set to open doors on December 8 with ...

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