September, 2016

• 7 September

  Malaysia pauses after surprise July rate cut

  

    Bloomberg Malaysia’s central bank left its benchmark interest rate unchanged following July’s surprise cut, as policy makers wait to see if the government will adopt additional stimulus measures in its budget next month. Bank Negara Malaysia kept the overnight policy rate at 3 percent, it said in a statement in Kuala Lumpur Wednesday. The decision was predicted by 14 ...

  Read More »
• 7 September

  Poland central bank holds rates again as economy growing at 3% defies deflation

    Bloomberg Poland’s central bank kept its key interest rate unchanged at a record low for a 17th month as economic growth stabilized around 3 percent and deflation stretched into a third year. The 10-member Monetary Policy Council on Wednesday left the seven-day reference rate at 1.5 percent, matching the predictions of all 30 economists surveyed by Bloomberg. Governor Adam ...

  Read More »
• 7 September

  Key executive at Bahrain’s Bank ABC to depart in 2017

  

    Reuters The chief banking officer of Bank ABC, Ray Ferguson, will step down from his position at the Bahraini lender in early 2017, according to an internal memo seen by Reuters on Tuesday. Ferguson, hired from Standard Chartered in 2014, had been tasked with helping to formulate and implement a refreshed strategy at the bank which included expanding abroad ...

  Read More »
• 7 September

  ECB faces bond-buying shuffle with QE extension on the cards

  

    Bloomberg The European Central Bank might need to change the rules of the game if it wants to keep playing in the bond market. President Mario Draghi’s 1.7 trillion-euro ($1.9 trillion) asset-purchase program is scheduled to end in just six months, but euro-area inflation is still weak and the full shock of the UK’s Brexit vote could be yet ...

  Read More »
• 7 September

  Air Canada plans bond redemptions, refinancing

  

    Bloomberg Air Canada plans to ease its debt load and push back maturities to cut costs as the airline industry wrestles with overcapacity and weak fares. The airline intends to redeem $700 million of US dollar first- and second-lien bonds maturing in 2019 and 2020, as well as C$300 million ($233 million) of Canadian dollar bonds maturing in 2019, ...

  Read More »
• 7 September

  Saudi Oger to sell half stake in Medinah airport

  

    Bloomberg Saudi Oger Ltd., the construction company owned by Lebanon’s Hariri family, is in talks to sell half its stake in the company that operates Saudi Arabia’s Medina airport to Turkish partner TAV. The two companies have started talks on the transfer of a 16.7 percent stake in Tibah Airports Development, TAV said in an e-mailed statement. The deal ...

  Read More »
• 7 September

  Malaysia-bound flight ended up in Melbourne due to wrong inputs

  

    AFP A Malaysia-bound AirAsia X plane which took off from Sydney ended up in Melbourne instead after the pilot entered the aircraft’s wrong longitudinal position, safety officials revealed on Wednesday. The Airbus A330-300 left Sydney en route to Kuala Lumpur on March 10 last year but air traffic controllers went on alert after it began flying in the wrong ...

  Read More »
• 7 September

  Ex-Malaysia Air CEO to join Emirates

  

    Bloomberg Christoph Mueller, previously chief executive officer at Malaysia Airlines Bhd., joins Persian Gulf carrier Emirates this month in a newly created position that will see him play a significant management role at the biggest airline by international traffic. The German, who also ran Ireland’s Aer Lingus and former Belgian flag carrier Sabena, starts on Sept. 20 as chief ...

  Read More »
• 7 September

  JetBlue girds for battle against Delta Air Lines

    Bloomberg JetBlue Airways Corp. plans to increase daily flights from Boston by about 40 percent, including new service to Atlanta as the carrier steps up competition with Delta Air Lines Inc. In addition to the Boston-Atlanta route starting March 30, JetBlue plans to add flights in the second half of 2017 between the Georgia city and New York’s John ...

  Read More »
• 7 September

  Steinhoff acquires S African shoe retailer as profit rises

  

    Bloomberg Steinhoff International Holdings NV said it sees further opportunities for growth in its main markets as the acquisitive South African clothing and furniture retailer announced its latest purchase and reported a 20 percent rise in full-year profit. The company agreed to buy Tekkie Town, a South African shoe retailer with 302 stores, Steinhoff said in a report posted ...

  Read More »