01182017Wed
Last update: Wed, 18 Jan 2017 10am

Business & Finance - Banking & Finance

Czech central bank chief: inflation trend matters more than spot data PRAGUE: The Czech central bank is more concerned with the inflation trend than with hitting a specific rate of price growth when considering when to lift its cap on the crown's exchange rate, Governor Jiri Rusnok was quoted as saying on Monday. Inflation reached the central bank's 2 percent target in December for the first time in four years, and the markets are betting increasingly heavily on the bank scrapping the cap in the second quarter - the earliest time it has said it may do so. "The absolute level (of inflation) is not as significant as the trend and its anchoring in the overall development," Rusnok told news website Seznam.cz/zpravy, according to the transcript of a video interview released on Monday. Rusnok said an updated economic outlook the bank releases in early February will be important for its decision-making."In order to be sure that it is time to step ...


Business & Finance - Industries & Sectors

Saudi carrier Flynas signs deal for 80 Airbus planes RIYADH: Low-cost Saudi carrier Flynas on Monday signed an $8.6 billion deal with European plane manufacturer Airbus to purchase 80 A320neo single-aisle jets.Flynas chairman Ayed al-Jeaid said at the signing ceremony in Riyadh that the deal includes an option for 40 more of the short to medium-haul planes in what airline executives said is a growing domestic market.Bander al-Mohanna, the chief executive of NAS Holding, signed the agreement with Fouad Attar, Middle East director for ...

Business & Finance - Banking & Finance

Qatar National Bank Q4 net profit up 8.3pc DUBAI: Qatar National Bank (QNB), the Gulf's largest lender, reported a 8.3 percent increase in fourth-quarter net profit, according to Reuters calculations on Sunday. The bank's net profit was 2.75 billion riyals ($755 million) in the three months to Dec. 31, compared with 2.54 billion riyals in the corresponding period of 2015, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown. EFG Hermes forecast the bank would make a net profit ...

Business & Finance - Banking & Finance

India central bank employees urge governor to protect autonomy MUMBAI: The employee union of the Reserve Bank of India (RBI) has urged the bank's governor to protect central bank autonomy and not allow the federal government to interfere in processes following criticism over how it handled a ban on high-value currency.The bank and Prime Minister Narendra Modi have been criticised for the implementation of their November decision to abolish high-value bills that accounted for 86 percent of currency in circulation.Economists said slow replacement of ...

Business & Finance - Managed Funds

Mauritius 91-day T-bills yield falls to 2.69pc PORT LOUIS: The weighted average yield on Mauritius' 91-day Treasury bill fell to 2.69 percent at auction on Friday from 2.75 percent at the last sale, the central bank said.The Bank of Mauritius sold all the 1.3 billion rupees worth of the debt it had offered. Copyright Reuters, 2017

Business & Finance - Industries & Sectors

Nissan picks London for first European on-road autonomous car tests LONDON: Japanese carmaker Nissan said it will conduct its first European real-world trials of self-driving cars in London, choosing Britain just months after it said it would build two new models in the country despite concerns over Brexit. The government has said it wants to encourage the development and testing of autonomous driving technology in Britain, helping build an industry to serve a worldwide market it reckons could be worth around 900 billion pounds ($1.1 ...

Business & Finance - Industries & Sectors

Pemex sells Maya crude to US West Coast for first time since 2008 MEXICO CITY: Mexico's Pemex has begun selling heavy Maya crude for the first time since 2008 to US West Coast refiners, the head of the state oil company's international trading arm said on Thursday. Pemex will also market more light Isthmus crude this year to the US West Coast, most, if not all destined for California. The company plans to ship an average of 30,000 barrels per day (bpd) of Maya crude and 50,000 bpd ...