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Reuters Kuwait’s Burgan Bank, the country’s third largest lender by assets, is in early discussions with banks for the refinancing of a $350 million loan due in December, sources familiar with the matter said on Sunday. The bank raised the original debt facility in 2015 with a group of seven banks, including regional and international lenders. The new loan would ...

Bloomberg Reforming the Reserve Bank of New Zealand’s monetary policy mandate could potentially result in lower interest rates, the new finance minister said. Requiring the central bank to target full employment as well as price stability when making rate decisions will ensure its objectives are more aligned with the well-being of New Zealanders, Grant Robertson said in a television interview ...

Bloomberg Wells Fargo & Co. added $1 billion in the third quarter to what it says the bank may face in possible legal expenses. Legal costs could potentially be $3.3 billion more than what the San Francisco-based bank has reserved, Wells Fargo said in a regulatory filing. While that figure was unchanged from the previous three-month period, it constitutes a ...

Bloomberg It was President Donald Trump who dominated the headlines in monetary policy over the past 10 days with his choice of Jerome Powell to chair the US Federal Reserve. Yet the club of central bank chiefs the American is set to join has been making plenty of news. The Fed, now helmed by Janet Yellen, left itself on course ...

Bloomberg Bombardier Inc. will miss this year’s delivery target for its flagship C Series jet as Canada’s biggest aerospace company grapples with engine delays. Customers will receive only 20 to 22 of the new aircraft this year, down from an earlier plan for about 30, Bombardier said in a statement. The Montreal-based planemaker also announced that an unidentified European client ...

Bloomberg Bain Capital LP is in the final stages of bidding for Blackstone Group LP’s seaplane operator in the Maldives, the tropical island chain known for its white sand and turquoise waters, according to people familiar with the matter. The buyout firm is partnering with Chinese conglomerate Tempus Group Co. in its bid for control of Trans Maldivian Airways Pvt, ...

Bloomberg Amazon.com Inc. is scaling back its grocery delivery service Amazon Fresh in parts of at least seven states, tweaking its strategy after buying Whole Foods Market in June. The states affected are New York, New Jersey, Pennsylvania, Maryland, Virginia, Connecticut and California. Amazon launched the Fresh delivery service a decade ago in Seattle, which was its first foray into ...

Bloomberg Singapore Airlines Ltd., the first carrier to put a double bed in its cabins, is spending $850 million to refit all its Airbus SE A380 jets as it fights neck and neck with airlines such as Emirates for passengers paying top dollar. The flag carrier unveiled its first major overhaul across cabins of its Airbus SE A380s since 2007, ...

ABU DHABI / WAM Non-oil trade between the UAE and Nigeria, Africa’s largest economy, stood at $1.3 billion in 2016, according to a report released by the Ministry of Economy on trade policy review with the West African country. As the largest oil exporter in Africa with huge natural gas reserves, Nigeria is ranked as the 26th largest economy in ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said that the UAE, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has made great strides in building a solid base for military and defence industries with national hands. His Highness ...