August, 2016

• 22 August

  Hundreds of flights grounded as typhoon hits Tokyo

  

    Nasiriyah / AFP A powerful typhoon struck near Tokyo on Monday, the first for 11 years to hit the densely populated region, temporarily shutting down Japan’s biggest airport and grounding more than 500 flights nationwide. Typhoon Mindulle made landfall at about 12:30 pm (0330 GMT) in Tateyama city, 80 kilometres (50 miles) southeast of Tokyo, the Japan Meteorological Agency ...

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• 22 August

  Iran says Russian raids from its airbase ‘over for now’

    Tehran / AFP Iran said on Monday that Russian raids on Syria from one of its airbases had ended for now, shortly after accusing Moscow of “showing off” when it revealed the bombing missions. “It was a specific, authorised mission and it’s over for now. They conducted it and they are gone now,” foreign ministry spokesman Bahram Ghasemi told ...

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• 22 August

  US bank mergers heading for 7-year high

  

    Bloomberg Here’s an irony: US regulators looking to avoid bailouts of too-big-to-fail banks have passed so many rules that regional and local lenders are combining to stomach the costs. The result: Banks are bulking up. Mergers and acquisitions by US banks surged last year to about $18 billion, the highest level since 2009. This year, firms are set to ...

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• 22 August

  Brazilian banks charge more to cover losses on bad loans

  

    Bloomberg Brazilian banks are charging more for everything from checkbooks to credit cards to help cover losses on bad loans, pushing the gap between bank-service fees and the nation’s inflation rate to the highest in more than four years. Prices for bank services, which have been rising faster than the benchmark inflation rate since August 2015, climbed 11.5 percent ...

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• 22 August

  Nomura back in hiring mode for US bankers

  

    Bloomberg Nomura Holdings Inc. plans to hire bankers in the US, resuming a push to boost investment-banking business in a market that remains a priority for Japan’s biggest brokerage following a round of cost cuts. The Tokyo-based firm anticipates rising volumes of mergers and stock offerings in the U.S., said Chief Operating Officer Tetsu Ozaki, who is seeking bankers ...

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• 22 August

  Rajan’s successor faces key challenges as RBI governor

  

    Bloomberg Urjit Patel will take over as India’s central bank chief at a time when monetary policy decision-making is being overhauled and an estimated $20 billion is set to flow out of the country. Patel is currently deputy governor in charge of monetary policy and has been a key architect of the central bank’s shift to a consumer-price-based inflation ...

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• 22 August

  RBS to impose negative interest rates on clients

  

    LONDON / AP Royal Bank of Scotland says it will charge some corporate customers for accepting their deposits — the first U.K. bank to impose so-called negative interest rates after the Bank of England slashed borrowing costs to spur investment. RBS, bailed out by taxpayers during the financial crisis, says negative interest will apply only to the overnight rate ...

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• 22 August

  Musafir announces partnership with Singapore Tourism Board

  

    Emirates Business Musafir.com, the UAE’s first premium-experience travel website, announces on Monday a major new partnership with Singapore Tourism Board (Middle East), to raise awareness of Singapore as a compelling leisure destination in the Middle East and drive strong conversion of holiday packages to Singapore as well as introduce new benefits for travelers in the UAE and beyond. Under ...

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• 22 August

  MTN starts $727mn empowerment plan

  

    Bloomberg MTN Group Ltd. started a 9.9 billion rand ($727 million) economic empowerment plan that will boost black ownership of the South African unit to more than 30 percent and enable Africa’s biggest mobile operator to bid for high-speed internet spectrum. Stock will be issued through empowerment vehicle MTN Zakhele Futhi to qualifying black employees at 102.80 rand each, ...

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• 22 August

  Couche-Tard to acquire CST Brands for US$3.67 billion

  

    Bloomberg Alimentation Couche-Tard Inc. agreed to buy the gas-station chain CST Brands Inc. for about $3.67 billion, using its biggest-ever acquisition to expand its foothold in Texas and eastern Canada. Couche-Tard will pay $48.53 a share in cash for CST, according to a statement Monday. The offer — valued at about $4.4 billion including debt — represents a 42 ...

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