June, 2016

• 23 June

  New Zealand’s central bank dials back public speaking

  

    Bloomberg New Zealand’s central bank has reduced its public speaking as it battles the opposing forces of a housing boom and weak inflation. The Reserve Bank has more than halved the number of on-the-record speeches it gives a year, from 18 in 2014 to eight last year and four so far in 2016. Of those, Governor Graeme Wheeler gave ...

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• 23 June

  BOC should be on guard with Fed to raise interest rates

  

    Bloomberg The USA Federal Reserve will raise interest rates as many as six times over the next 18 months and the Bank of Canada should be getting ready with increases of its own, Bank of Nova Scotia Chief Economist Jean-Francois Perrault said. While both central banks will be cautious about snuffing out recoveries, the USA job market will have ...

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• 23 June

  Norway keeps rates at record low

  

    Bloomberg Norway’s central bank left its benchmark rate unchanged at a record low amid signs the economy of western Europe’s biggest oil producer will narrowly avoid a recession thanks to record fiscal and monetary stimulus. The rate was left at 0.50 percent, as forecast by 14 of 15 analysts surveyed. The bank raised its outlook for rates looking ahead, ...

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• 23 June

  Banks to face potential penalty in Australia rate cases

  

    Bloomberg Three of Australia’s largest banks face maximum potential penalties of A$231 million (US$173 million) if they lose civil suits related to alleged rigging of an interest rate benchmark, a fraction of their combined first-half profits of A$10 billion. The Australian securities regulator has filed separate legal actions against Australia & New Zealand Banking Group Ltd, National Australia Bank ...

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• 23 June

  Prez asks BOT to defend the value of shilling

  

    Bloomberg Tanzania’s central bank should rally to the defense of the shilling using means at its disposal, including stopping ‘dollarization’ of the economy, President John Magufuli said. The currency of the natural gas-producing country has weakened almost 2 percent against the dollar this year, extending depreciation of 19 percent in 2015. Tanzania held US$3.9 billion of gross international reserves ...

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• 23 June

  Experts imagine an Asia without the US

  

  A panel of Asia experts recently conveyed to American audiences the alarm that Asian observers feel about U.S. withdrawal from the region. Gathering in New York on Monday for a panel hosted by NTT and Kinokuniya — a Japanese publishing company and book store, respectively – the experts discussed a wide range of divisive issues in Asia’s security landscape – ...

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• 23 June

  Automakers need to be eco-responsible

    It is a tough time for major automakers hit hard by scandals over concealing faults that cause pollution. These revelations have a negative impact on investors and consumers as executives try to contain mistrust through redressing these technical errors, but at a huge price. Volkswagen’s admission in September that it had illegally fitted special devices in 11 million diesel ...

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• 23 June

  Abu Sayyaf poses challenge for Duterte

    Luke Hunt SPECIAL TO EMIRATES BUSINESS While the police were counting the toll in Orlando left by Afghan-American Omar Mateen – who shot dead 49 people – the authorities in the southern Philippines were attempting to identify Canadian Robert Hall, who was kidnapped and this week killed by Abu Sayyaf militants. Mateen and the Abu Sayyaf were Islamic State ...

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• 23 June

  Chinese fishermen: The new global pirates?

    Cal Wong SPECIAL TO EMIRATES BUSINESS The Indonesian Navy intercepted a Chinese vessel that was caught illegally fishing in Indonesian territory off the Natuna Islands on Saturday, June 18. Indonesian Navy spokesman First Admiral Edi Sucipto said the seven crew members of the Chinese vessel were detained. This is the third incident in the Natuna Islands involving Chinese vessels. ...

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• 23 June

  UAE leaps forward towards a hyper-connected future

  

    Ritika Sharma / Emirates Business With smartphone penetrations mounting at startling pace and rapid proliferation of technological devices combined with increasing spendable income of residents, the UAE is vigorously embracing technological creations and moving towards a hyper-connected future. Testimony to the aforesaid statement is the fact that GfK Connected Consumer Index, which studied data of nearly 78 countries, has ...

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