Bloomberg Treasuries slid and the dollar pared gains as investors counted down to the latest Federal Reserve rate decision. Apple Inc’s rally buoyed the tech sector as an escalation in trade-war rhetoric weighed on equities and battered commodities. A bond sell-off that started in Japan before spreading into Europe picked up steam in the US after the Treasury Department said …
Read More »Blog Layout
China stocks slide as hopes for politburo boost sputters out
Bloomberg Chinese equities and the yuan extended losses on Wednesday afternoon, gaining downward momentum as concern over possible higher US tariffs overwhelmed optimism about Beijing’s pledge to support economic growth. The CSI 300 Index of large mainland-listed companies slid 2 percent, its biggest loss in a month. The offshore-traded yuan fell 0.17 percent to 6.8170 per dollar, while the yuan …
Read More »New airline all set to join Vietnam’s congested skies
Bloomberg Vietnam’s skies are about to get more crowded. With state-owned Vietnam Airlines JSC and budget carrier VietJet Aviation JSC serving one of the world’s busiest routes, property developer FLC Group JSC wants a piece of the action with a new airline, operating 37 routes in the country after its inaugural flight in October. Called Bamboo Airways, the new airline …
Read More »101 people survive Mexico airline crash
Bloomberg Multiple people were injured after an emergency landing by Grupo Aeromexico SAB aircraft but no one died, a state official said, contradicting a report of eight fatalities. Many passengers left on foot from the scene of the accident in Durango, Mexico, said Israel Solano, a state civil protection official, in an interview with broadcaster TV Azteca. The Televisa network …
Read More »Lufthansa fare gains to support earnings
Bloomberg Deutsche Lufthansa AG reassured investors that cost cuts and higher fares will help it reach full-year targets after disruption from storms and air traffic control strikes hurt second-quarter earnings. The shares rose the most in 21 months after Lufthansa reported profit that fell less than analysts had feared, despite a rising fuel bill and increased expenses from integrating parts …
Read More »HNA chief’s death to delay airline share sale
Bloomberg Hong Kong Airlines’ plans to sell almost a third of its stock has been held up after the sudden death of a top executive at HNA Group Co., one of the carrier’s biggest shareholders, according to a person familiar with the matter. The death of HNA co-Chairman Wang Jian from an accident in France in early July has halted …
Read More »Toys ‘R’ Us workers go to Congress to seek curbs on buyout  firms
Bloomberg Fired Toys ‘R’ Us Inc. workers took their travails to Congress to press for changes in the way private equity deals are structured. Potential US presidential candidates Kirsten Gillibrand and Cory Booker, and Minority Leader Chuck Schumer were among Democratic senators who met with former staff members and workers’ rights groups. The ex-employees are asking for new leverage limits …
Read More »Khalifa Foundation provides relief aid to 180,000 Somalis
BERBERA/ WAM The Khalifa bin Zayed Al Nahyan Foundation has concluded its third relief operation in Somalia’s Berbera region, distributing food aid packages to 10,000 families affected by the drought. According to a spokesperson from the organisation, the campaign was implemented in accordance with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with the support of …
Read More »DFM index reports biggest monthly rise in a year in July
Bloomberg Dubai’s main equity gauge posted its biggest monthly gain in a year, powered by a revival in the banking sector as better-than-estimated earnings help UAE stocks escape this year’s doldrums. The DFM General Index has surged 4.8 percent in July. In Abu Dhabi, the ADX General Index posted its largest monthly gain in more than two years, advancing 6.6 …
Read More »SocGen says trader seeking $9mn cost $267mn in fines
Bloomberg Societe Generale SA said a former trader who insists he was made a scapegoat for the bank’s role in a rate-rigging scandal should face up to criminal charges in the UK before a Paris court rules on his bid for more than $9 million in compensation. The French lender disputed Stephane Esper’s lawsuit at a hearing, saying that employment …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.