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  Bloomberg From the immediate possibility of Britain leaving the European Union to the longer-term consequences of aging populations, the world’s major central banks this week just aren’t sure what to do next. Officials from the US, Japan, the UK and Switzerland all opted to keep monetary policy unchanged this week as they await the June 23 Brexit vote and ...

  Bloomberg Spanish authorities are investigating some Banco Santander SA and BNP Paribas SA employees amid allegations they may have helped shield customers’ international transfers from tax authorities, according to a person familiar with the probe. Investigators are trying to work out who within the banks may have been responsible for the alleged transactions by analyzing evidence including papers they ...

  Bloomberg A venture between JPMorgan Chase & Co and private-equity firm Lone Star Funds is the leading bidder to buy Propertize BV, the Dutch bad bank that holds 5.5 billion euros (US$6.1 billion) of loans and real estate, according to a person with knowledge of the matter. Propertize may reach a deal to sell the firm in the next ...

  Bloomberg Investigators have linked malware used by Russian and eastern European cyber-gangs to a string of bank heists that culminated in the record-breaking theft of US$81 million from Bangladesh’s central bank, according to people familiar with the probe. The tools used in some of the attacks on as many as 12 banks, mostly in Southeast Asia, match those deployed ...

  Bloomberg The Bank of Canada is running experiments on interbank payment systems using blockchain-type technology to better understand how it works. The central bank has no plans to issue any digital currency for public use, Senior Deputy Governor Carolyn Wilkins said in an e-mailed statement. Blockchain refers to the technology that underpins distributed ledgers, which are used for verifying ...

  Our Correspondent/ Emirates Business In the Middle East, the HP brand is synonymous with quality and reliability, but that has not come overnight. Recognised as one of the original founders of Silicon Valley, Bill Hewlett and Dave Packard founded the company in 1939 in a one-car garage in Palo Alto. In a country where more than a third of ...

  Our Correspondent EMIRATES BUSINESS Swiss watchmaker Raymond Weil belongs to the lizmited circle of independent family companies creating elegant and refined watches for men and women. Founded in 1976 and now under the leadership of the founder’s grandson, Elie Bernheim, the Geneva-based company continues to develop and consolidate its status among the leading names of the Swiss watch industry. ...

  ALKESH SHARMA / Emirates Business Digital transformation is the crucial key to success of businesses in the Middle East. However, the journey towards digitalisation also calls for state-of-the-art and ultra-secure systems, which can prevent cyber-attacks. According to the experts, with corporates hunting for maintainable diversity and innovative resources of growth through cutting-edge digital strategies, enterprises in this region are ...

  Sharjah / Emirates Business ‘Maktaba,’ an imprint of Kalimat Group, and the UAE Board on Books for Young people (UAEBBY) recently organised an Iftar and reading session for children from the Social Child Care Centre. Arranged in line with the holy month of Ramadan, the event provided literary entertainment for the youngsters and sought to instill within them hope ...

  Sunaina Rana / Emirates Business The luxury sector in the Middle East continues to grow undeterred by any economic hurdles. It has been ranked among the top 10 luxury markets globally, with a spending of around AED34 billion in 2015. The overall industry — as tracked by Bain & Company — comprises 10 segments, led by luxury cars, luxury ...