Bloomberg Barclays Plc plans to plead guilty to UK charges that it failed to make proper disclosures about a multi-billion-pound capital raising from Qatar during the financial crisis, according to a person with knowledge of the process. The bank is braced for a fine, which would likely range from 100 million pounds ($128 million) to 200 million pounds, said the …
Read More »
Bloomberg Boeing Co. is closing in on about $5 billion in orders from two Asian carriers for its longest-ever 737, people familiar with the matter said. The US planemaker is discussing a deal with India’s SpiceJet Ltd. for about 20 of the 737 Max 10 aircraft, said the people, who asked not to be identified as the discussions are private. …
Read More »
Bloomberg McDonald’s Corp. is ending its sponsorship of the Olympic Games three years earlier than planned, removing one of the event’s biggest corporate partners at a time when its allure is fading. The International Olympic Committee and the fast-food giant are terminating their worldwide partnership, effective immediately, they said in a statement on Friday. McDonald’s will continue to be a …
Read More »
Bloomberg Telia AB is considering a plan to reduce its stake in Russian telecommunications service provider MegaFon PJSC as the Swedish carrier focuses on its home region, according to reports. Telia is considering selling about $500 million of MegaFon as early as this week in an accelerated sale to institutional investors, depending on demand and market conditions, the people said, …
Read More »
Bloomberg This should be a great time to run the world’s largest airline, with years of fat profits, record travel demand and a huge vote of confidence from billionaire investor Warren Buffett. Instead, American Airlines is trailing the market again after a lackluster 2016 and a 21 percent drop in 2015. It abandoned part of a plan to eke out …
Read More »
DUBAI / WAM Dubai International Financial Centre (DIFC) has welcomed Hapag-Lloyd to the centre following the successful completion of its multibillion Dollar merger with United Arab Shipping Company Limited (UASC), a DIFC company. The transaction is one of the largest ever mergers involving a DIFC company or any company based in the Gulf region. With 230 vessels and a combined …
Read More »
Abu Dhabi / WAM Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, KIZAD, has announced the close of its best-ever cruise season at Abu Dhabi Cruise Terminal with the maiden call of Princess Cruise Lines’ Majestic Princess. The company recorded a growth for the year with …
Read More »DUBAI / WAM Master developer Nakheel has released a construction tender for Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination in Nad Al Sheba area of Dubai. The move comes a month after Nakheel Malls began leasing at Nad Al Sheba Mall, which will have 200 shops, restaurants and entertainment outlets, medical clinic …
Read More »Abu Dhabi / WAM For the third straight session and despite a profit booking spree involving blue-chips that hit record highs over the past few days, UAE stock markets continued their positive streak on Wednesday, driven by a bullish performance at the real estate sector. DFM General Index climbed 0.27 percent to close at 3,450 points led by a good …
Read More »ABU DHABI / WAM The Board of Directors of the UAE Central Bank has held its 4th meeting for 2017 under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members.
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.