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Bloomberg Deutsche Bank AG is targeting the Middle East as a priority region for wealth management as the lender seeks to recoup assets lost late last year when concerns about its capital levels prompted an exodus of clients. The Frankfurt-based bank is seeking to hire relationship managers and expand the products it offers wealthy clients in the region to attract ...

Bloomberg Former Credit Suisse Group AG trader Nikolay Storonsky is getting $66 million from investors including Index Ventures to help expand his business offering banking services and add cryptocurrency exchange for customers. His London-based Revolut Ltd. raised the money in a round that included Balderton Capital and Ribbit Capital, according to a statement on Wednesday. Storonsky, 32, will use the ...

Bloomberg Bank of England (BOE) Deputy Governor Ben Broadbent said he’s not ready to vote for higher interest rates, even though he sees pressures to do so building up. “There is reason to see the committee moving in that direction, but there are still a lot of imponderables,” Broadbent said in an interview with The Press and Journal. “It is ...

Bloomberg The franc’s decline to a one-year low suggests the Swiss National Bank (SNB) may only need to stand still to achieve its aim of a weaker currency. Major central banks across Europe are hinting at unwinding monetary policy stimulus, leaving the SNB among a shrinking dovish camp. UBS Group AG and Nomura Holdings Inc. predict further downside for the ...

Bloomberg Hiroshi Iwama and Mitsunori Watanabe used to joke about merging their banks in central Japan. When the Bank of Japan introduced negative interest rates last year, things got serious. The two golfing buddies run Mie Bank Ltd. and Daisan Bank Ltd., two of Japan’s roughly 100 regional lenders. For years, these banks dotted around the nation have faced headwinds ...

Abu Dhabi / Emirates Business Etihad Airways is adding year-round flights between its Abu Dhabi hub and both Cairo and Lagos later this year to cater to growing demand to and from the United Arab Emirates. A fifth daily scheduled service will be introduced on the Cairo route, effective October 1, taking frequency to the Egyptian capital up from 28 ...

Bloomberg Austria plans to transition away from its fleet of Eurofighter Typhoon jets amid a long-running spat over pricing after concluding that sourcing a new squadron of supersonic interceptors would be a cheaper and more effective option. The Austrian Air Force recommends moving to a single type of warplane with 15 single-seat and three double-seat versions from 2020, replacing its ...

RABAT / Reuters A ban on carrying laptop computers and other large electronic devices in aircraft cabins on direct flights between Morocco and the United States will be lifted on Thursday, Morocco’s Royal Air Maroc said in a statement. In March, the United States banned laptops in cabins on flights originating at 10 airports in eight countries — Egypt, Morocco, ...

Bloomberg Tesco Plc faces an in-depth probe into its 3.7 billion-pound ($4.75 billion) bid for food wholesaler Booker Group Plc after regulators expressed concerns that the deal could leave shoppers worse off. The Competition and Markets Authority said that shoppers in more than 350 local areas could face worse terms when buying groceries where there is an overlap between Tesco ...

Bloomberg Air Zimbabwe is firing more than a third of its workforce to prevent the state-owned airline from going bankrupt. The airline has debts of about $330 million, Transport Minister Joram Gumbo said in June. The carrier was also banned from operating in the European Union in May on safety concerns even though it doesn’t currently fly there. As many ...