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Bloomberg Indonesia will investigate whether citizens linked to the transfer of $1.4 billion of Standard Chartered Plc private bank client assets complied with tax amnesty requirements. The country’s Finance Ministry received data on the fund transfer for tax compliance purposes and found it involved 81 private citizens, without any military, police, law enforcement or civil servants involved, Ken Dwijugiasteadi, director-general ...

Bloomberg The pound rose as UK data was seen supporting the case for a November rate increase from the Bank of England (BOE). Sterling’s rally took this week’s gains to around 1 percent, as manufacturing and construction output beat forecasts. The data still showed a mixed picture for the U.K. economy as the nation’s trade deficit increased to the most ...

Bloomberg Chief Executive Officer John Cryan is losing the support of some investors just seven months into Deutsche Bank AG’s latest turnaround plan. Three of the 10 largest stakeholders in the bank, speaking on condition of anonymity, said they want to see a turnaround in the next few quarters, particularly in the trading business, to continue to back the 56-year-old ...

DUBAI / Reuters Warba Bank, a Kuwaiti sharia-compliant lender, is syndicating a $250 million debt facility, its first in the syndicated loan market, sources familiar with the matter said on Tuesday. The financing is Warba’s latest fund-raising exercise after its issue in March of $250 million of Tier 1 sukuk, as the lender seeks to boost its capital ratios and ...

Bloomberg President Donald Trump’s pledges to overhaul taxes, trade, infrastructure and health care may thrill some corporate leaders, but it’s causing many to delay expansions. That’s bad for banks. Lending growth probably decelerated for a fourth straight quarter in the three months ended Sept. 30 across more than a dozen of the biggest US banks, according to Royal Bank of ...

Bloomberg Kuwaiti discount carrier Jazeera Airways has delayed a planned expansion into long-haul flights to focus on extending its existing network to serve the Indian subcontinent. Jazeera, which has previously been limited to operations within the Middle East, will start operating to Hyderabad in India and Lahore in Pakistan this month before adding Delhi, Mumbai and Chennai later in the ...

Bloomberg Dassault Aviation SA, the French maker of Rafale fighter jets, may build its business aircraft in India, in a boost to Prime Minister Narendra Modi’s push to encourage local manufacturing. Building the Falcon 2000 planes in India would cut costs while ensuring quality and execution that meets standards, Chief Executive Officer Eric Trappier said in an interview on the ...

Bloomberg BAE Systems Plc will eliminate almost 2,000 jobs as it struggles to secure new orders for the Eurofighter Typhoon warplane and slims down its naval ships and cyber-security businesses. Some 1,400 posts will go at the company’s military-aircraft unit, which employs about 12,500 people, with a further 375 positions to be eliminated in the maritime division and up to ...

Bloomberg Ikea is planning to enter South America and expand in Southeast Asia in its quest to dominate the world’s home furnishings market. Those regions are on the Swedish company’s radar after entries into India and Latvia this year, Inter Ikea Holding said. Retail sales including all franchisees and customer services amounted to 38.3 billion euros ($45 billion) in the ...

Bloomberg UK retailers are losing the battle against higher prices, potentially strengthening the case for the Bank of England to increase interest rates next month. A report on Tuesday from the British Retail Consortium and KPMG showed like-for-like sales increased 1.9 percent from a year earlier—a fourth straight month of gains. Still, the fastest growth since April was driven by ...