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Bloomberg China’s central bank said it will reduce the amount of cash lenders must hold as reserves from next year, with the size of the cut linked to the flow of funding to parts of the economy where credit is scarce. The targeted measures apply to all major banks, 90 percent of city commercial banks, and 95 percent of rural ...

Bloomberg Citigroup Inc. is hiring another 50 engineers in Israel, where fierce competition from technology giants is frustrating efforts to expand a workforce that already employs more programmers than bankers. The bank is recruiting developers in fields such as big data, artificial intelligence and interface design for its tech lab, a division set up in 2011 to service the global ...

DUBAI / Emirates Business Mashreq Bank on Sunday launched Mashreq Neo, a new full-service digital bank to cater to the day-to-day needs of a world on the move. The new digital bank, which will be completely branchless, is targeted towards the connected generation who are digitally savvy, use mobile devices extensively, and will immerse users in a brilliant digital experience. ...

Bloomberg Kuwait’s graduation to emerging-markets classification by index compiler FTSE Russell could prompt inflows of as much as $700 million from investors, according to the money manager run by the nation’s largest lender. The Gulf country won inclusion in FTSE Russell’s list during the weekend, rewarding efforts by local regulators and the stock exchange to modernize trading systems and attract ...

Bloomberg Ryan Charles recently switched his business, the social platform Yours Inc., from using bitcoin — simply because he couldn’t afford it. Fees for sending money over the distributed-ledger network have risen nearly 19-fold, from 13 cents per average transaction in the second quarter of 2016 to $2.40 in the same quarter of this year, according to researcher CoinDesk. While ...

Bloomberg American Airlines Group Inc. will add more seats to some of its single-aisle jetliners as part of an effort to boost sales by $1.4 billion in the next four years. It’s also targeting $1 billion in cost savings. The carrier’s Boeing Co. 737-800 jets will be revamped to fit 12 more passengers while the Airbus SE A321 planes will ...

Bloomberg Southwest Airlines Co. said third-quarter sales will take a $100 million blow from this year’s devastating hurricanes and earthquakes. About 5,000 flights had been canceled through Wednesday because of the natural disasters, the carrier said in a statement. Southwest also pared its outlook for revenue from each seat flown a mile, saying the benchmark gauge would be little changed ...

Bloomberg Bombardier Inc. remains confident that it will win orders for its C Series jetliner this year, even after losing a ruling in a trade battle with Boeing Co. that essentially shuts off the US market. “We’re working opportunities in many, many continents,” Colin Bole, senior vice president for sales at the Montreal-based company’s commercial aircraft unit, said. “I’m still ...

Bloomberg JetBlue Airways Corp. has been talking about the first full revamp of its workhorse jetliner for a long time. This fall, almost 18 years since the popular low-cost carrier arrived at airports, it’s finally going to happen, and while there are plenty of bells and whistles to get you oohing and ahhing, there’s a little surprise that may leave ...

Bloomberg Pakistan’s burgeoning youth and their freewheeling attitude towards rising incomes have turned the nation into the world’s fastest growing retail market. The market is predicted to expand 8.2 percent per annum through 2016-2021 as disposable income has doubled since 2010, according to Euromonitor International. The size of the middle class is estimated to surpass that of the UK and ...