October, 2016

• 10 October

  DR Congo violence claims 10

    Goma / AFP At least 10 people were killed in clashes between the army and suspected Ugandan rebels in east DR Congo, a local activist said on Monday, in an area that has suffered a string of massacres since 2014. The rebels of the Allied Democratic Forces, a partly armed group of Ugandan origin, are accused of a litany of ...

  Read More »
• 10 October

  Banks lead Saudi rebound

  

    DUBAI / Reuters Saudi Arabia’s stock market rebounded on the back of banking shares on Monday while other major Gulf bourses were firm, with builder Drake & Scull leaping in Dubai after it replaced its chief executive. The Saudi stock index, which had tumbled 2.2 percent on Sunday as banks dropped because of concern about the impact of government ...

  Read More »
• 10 October

  Bosnia’s bourse, Gulf-owned bank launch Balkans’ first Islamic share index

    SARAJEVO / Reuters Bosnia’s Sarajevo Stock Exchange (SASE) and Gulf-owned Bosna Bank International (BBI) launched the Balkans’ first index of listed firms compliant with Islamic investment principles on Monday in a bid to attract more investors in local equities. The index has 25 constituents: companies with the highest market capitalisation and revenues, including the country’s second-largest telecoms firm BH ...

  Read More »
• 10 October

  European equities grind higher

    London / AFP European stock markets held firm on Monday as traders digested last week’s volatile performance and eyed rising eurozone investor sentiment, dealers said. London added 0.2 percent in value, as investors paused for breath after sterling’s Brexit-fuelled “flash crash” to 31-year dollar lows late last week. The weak pound lifts exporters. Frankfurt won 0.6 percent despite ongoing ...

  Read More »
• 10 October

  Juneyao Airlines to join Star Alliance for overseas routes

  

    Bloomberg Juneyao Airlines Co., which currently only flies narrowbody jets from Airbus Group SE, is considering buying 10 widebody aircraft by 2020 to expand international routes. The planes could come from Airbus or Boeing Co., Juneyao Chairman Wang Junjin said on Monday. The carrier hasn’t placed any orders, Wang said at a briefing in Shanghai on its plans to ...

  Read More »
• 10 October

  Etihad to mandate banks for benchmark Islamic bond

  

    Bloomberg Etihad Airways PJSC has hired banks for a potential Islamic bond sale, according to people familiar with the matter. The third-biggest airline in the six-nation Gulf Cooperation Council mandated banks including HSBC Holdings Plc, National Bank of Abu Dhabi PJSC and Dubai Islamic Bank PJSC for the offering, said the people, who asked not to be identified because ...

  Read More »
• 10 October

  Norwegian to establish hub in Buenos Aires as $150 transatlantic tickets loom

  

    Bloomberg Norwegian Air Shuttle ASA plans to establish Buenos Aires as a hub in South America as expansion across the Americas may see round-trip ticket prices across the North Atlantic fall to $150. The discount carrier may start connecting Buenos Aires with Oslo, London and Paris in as early as 12 months once government permissions have been granted, Chief ...

  Read More »
• 10 October

  Wal-Mart to invest more money in online ops

    Bloomberg Wal-Mart Stores Inc.’s increasing reliance on e-commerce to fuel sales comes at a time when Amazon.com Inc. is tightening its grip on the American consumer, making it a risky gambit. Wal-Mart told investors it would pull back on the number of new stores it was opening and instead invest some of that money into online operations. It’s a ...

  Read More »
• 10 October

  Pratt’s $10bn jet engine stumbles in bid to dethrone GE

  

    Bloomberg It’s rarely a good sign when you become the butt of jokes. But that’s what happened to Pratt & Whitney at an industry gathering recently, when John Leahy, the venerable chief salesman of Airbus Group SE, went on about a futuristic airplane — with an engine that “no doubt will be delivered late.” While the audience was amused, ...

  Read More »
• 10 October

  China to reduce corporate debt to ease leverage

  

  Bloomberg China released guidelines for reducing corporate debt while also saying that the government won’t bear the final responsibility for borrowing by companies, the latest sign that policy makers are stepping up their fight against excessive leverage. The State Council, China’s cabinet, issued guidelines for reducing corporate debt and for how banks may swap bad debt to equity. At the ...

  Read More »