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Frankfurt / AFP European Central Bank (ECB) chief Mario Draghi said that while chronically weak loan growth in the euro area “has been recovering for quite some time, it is still too low.” In the wake of the eurozone’s financial and debt crisis, banks became wary of lending money to households and businesses for fear of a possible default, preferring ...

Bloomberg Foreign banks including HSBC Holdings Plc and Deutsche Bank AG are pushing back against the Federal Reserve’s proposals on implementing rules designed to end too-big-to-fail, saying they are burdensome and unfair to the US units of the world’s biggest lenders. Under the Fed’s proposals, US units of foreign banks affected would need an extra layer of debt available to ...

BLOOMBERG Royal Bank of Canada (RBC), the country’s largest lender by assets, awarded David McKay C$10.9 million ($8.2 million) for fiscal 2015, his first full year as chief executive officer, 44 percent more than the previous year. McKay, 52, received a salary of C$1.3 million, share-based awards of C$5.8 million, C$1.45 million of stock options, C$2.33 million in incentive pay ...

DOHA / EMIRATES BUSINESS Qatar’s Qatar Airways has invited companies to express interest in the contract to build a new car park at Hamad International airport on the outskirts of Doha. The structure will have a ground floor level, two above ground floors as well as rooftop parking. Altogether the gross floor area will be about 156,000 square metres, which ...

BLOOMBERG The U.K.’s chief statistician said he wants the country’s main inflation measure to include housing costs, backing an index that’s been stripped of its quality mark. In a letter to the Statistics Authority, John Pullinger said CPIH — consumer prices index including owner-occupiers housing costs — should be the “preferred measure of consumer inflation.” He said it’s important that ...

Bloomberg Three properties on Fifth Avenue in midtown Manhattan are coming up for sale, providing a test for the biggest U.S. commercial real estate market amid signs that a six-year boom in prices is coming to an end. Joseph Sitt’s Thor Equities is seeking bids for office-and-retail buildings at 693 Fifth Ave. and 590 Fifth Ave., according to three people ...

DPA Since the 1970s, Norwegian crude oil has flowed to the market seemingly without let-up, and along with it, vast sums for the state’s coffers. The natural resources sector accounts for around a fifth of Norwegian economic output, with more than 200,000 jobs dependent on it in a population of just 5.2 million. The outlook has changed radically since the ...

Bloomberg Japan is spending more than $1 billion to relaunch the area around the wrecked Fukushima Dai-Ichi nuclear plant as the country’s “Innovation Coast.” The region is trying to capitalize on technology developed in the five years spent cleaning up the worst nuclear disaster since Chernobyl, including Hitachi Ltd. and Toshiba Corp. robots that slither like snakes or cruise through ...

Emirates Business UAE’s national airline Etihad Airways will showcases its commitment to providing unmatched culinary experiences in the air and on ground, announcing a multi-year partnership with Taste Festivals Ltd — organisers of the world’s leading restaurant events since 2004. The airline, along with many of its Etihad Airways Partners, will have a presence at 15 Taste festivals scheduled in ...

Emirates Business Inheritance could be tedious process and knowledge of laws related to it is of utmost importance. In a bid to make this process easier for UAE companies by helping them to take note of recent developments, Trench & Associates (T&A), well-established Dubai legal consultants, is advising firms on in the inheritance laws. Changes in the inheritance process were ...