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Bloomberg Ghana completed a cleanup of its banking industry in which lenders were required to raise their capital and improve governance, with two-thirds of them meeting the new requirements, Bank of Ghana Governor Ernest Addison said. The West African nation has “23 well-capitalised” banks, compared with 34 previously, which raised their holdings to at least 400 million cedis ($81.1 million), ...

Bloomberg South African Reserve Bank Deputy Governor Francois Groepe has resigned, leaving only five people on the central bank’s rate-setting panel. He will leave at the end of the month, which is after the Monetary Policy Committee’s next interest-rate decision on January 17. Groepe has been a deputy governor and member of the MPC since January 2012. The MPC increased ...

Bloomberg Jerome Powell has been sucked into a one-sided communication fight with Donald Trump, who blames the Federal Reserve chairman for losses in the stock market. Powell can’t match the president’s megaphone on social media. But he can try to prevent equity prices becoming the barometer of Fed success by reminding the public that Congress gave it a different mandate: ...

Bloomberg Sears Holdings Corp is preparing to potentially wind down the iconic retailer after Chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, according to people with knowledge of the matter. The retailer started laying the groundwork for a liquidation after a series of meetings in which its advisers weighed the merits ...

Bloomberg Mr DIY, Malaysia’s biggest home improvement retailer, is exploring an initial public offering that could raise about $500 million, people with knowledge of the matter said. The company has been interviewing potential underwriters as it considers a listing in Kuala Lumpur, according to the people. Mr DIY is targeting a market value of about 10 billion ringgit ($2.4 billion), ...

Bloomberg Delta Air Lines Inc plunged the most in more than six years, pulling rivals lower, after disappointing ticket pricing forced the carrier to cut its revenue forecasts for the second time in two months. Fourth-quarter revenue from each seat flown a mile, or unit revenue, will rise 3 percent from a year earlier, the Atlanta-based airline said in a ...

Bloomberg Airbus SE narrowly missed its reduced target for aircraft deliveries last year even after the company’s factories operated until the last minutes of December 31 to complete remaining jetliners, according to people with knowledge of the matter. Handovers topped 790 but failed to reach the goal of about 800, said one of the people, who asked not to be ...

Bloomberg Panama’s Copa Airlines SA has been crowned 2018’s most punctual carrier in a global survey — but no major US airline made it into the top five. Latvia’s Air Baltic ranked second among airlines arriving or departing within 15 minutes of scheduled times, according to a report by data firm OAG Aviation Worldwide Ltd. Hong Kong Airlines, Hawaiian Airlines ...

DUBAI / Emirates Business The Department of Economic Development – Ajman (DED-Ajman) signed a strategic cooperation agreement with Khalifa Fund for Enterprise Development (KFED) to help bolster and promote a culture of entrepreneurship in the UAE. The agreement looks towards identifying objectives and areas of cooperation between the two parties to serve public interest and provide much needed support to ...

ABU DHABI / WAM A number of economic officials and analysts have affirmed that the outlook for the UAE economy is highly positive despite global headwinds. The country’s real gross domestic product (GDP) is expected to grow 3.7 percent this year, higher than the 2.9 percent forecast for 2018 and the 0.8 percent growth achieved in 2017, according to the ...