The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG King Charles III waded into European politics, praising Germany’s decision to reverse decades of defense policy by supplying Ukraine with arms. “Germany’s decision to send such significant military support to Ukraine is remarkably courageous, important and appreciated,†Charles said in a speech to the lower house of parliament in Berlin. Speaking to Bundestag lawmakers in German during his first ...
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March, 2023
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30 March
JPMorgan, Goldman to start trading private credit loans
BLOOMBERGÂ Wall Street banks are looking to start trading private credit loans as they seek to make inroads into the lucrative world of direct lending, a potential first step that could ultimately reshape the largely buy-and-hold market. JPMorgan Chase & Co, Goldman Sachs Group Inc and Barclays Plc are among the firms talking to private debt funds about facilitating secondary-market ...
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30 March
PBOC’s Yi says funding for green loans at $44b
BLOOMBERG The People’s Bank of China’s (PBOC) relending programs have incentivised banks to allocate more loans towards green projects, Governor Yi Gang said. The relending programs provide cheaper funding to banks and at the same time promotes information disclosure by lenders, Yi said on a panel at the Boao forum in Hainan. One of the PBOC’s relending programs — focussed ...
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30 March
Global investors’ appetite for risk is falling sharply, says BOE
BLOOMBERG The Bank of England (BOE) warned the next blow up in financial markets may be triggered by corporate credit after a massive build-up in private debt over the past decade. Riskier corporate borrowing — including high yield bonds, leveraged loans and private credit — is “particularly vulnerable†to interest rate rises and “heightened geopolitical risks increase the likelihood of ...
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30 March
Japanese banks have little risk of AT1 bonds wipeout, says Suzuki
BLOOMBERG Japanese banks have little risk of facing a situation like Credit Suisse Group AG’s recent Additional Tier 1 (AT1) bonds wipeout, Japan’s finance minister reassured onlookers who may be concerned about their holdings. Finance Minister Shunichi Suzuki said in parliament that Japanese banks’ AT1s do not have a clause which recently triggered $17 billion worth of junior debt being ...
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30 March
Credit Suisse seeks to soothe Swiss clients on UBS worries
BLOOMBERG Credit Suisse Group AG’s top executives in Switzerland sought to reassure local clients over worries stemming from the takeover by UBS Group AG, and underlined the importance that the domestic business has for the new combined bank. The Swiss bank held a 45-minute webcast, hosted by Andre Helfenstein, chief executive of the Swiss business, and Roger Suter, head of ...
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30 March
Macy’s CEO to retire in 2024, succeeded by Tony Spring
BLOOMBERG Macy’s Inc Chief Executive Officer (CEO) Jeff Gennette will retire in February after nearly seven years of navigating a difficult department-store landscape, ceding the position to Bloomingdale’s CEO Tony Spring. Spring, 58, who has been CEO at the high-end Bloomingdale’s chain since 2014 and joined the company in 1987, will serve as president of Macy’s until the 61-year-old Gennette’s ...
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30 March
Lululemon rises after annual outlook exceeds expectations
BLOOMBERG Lululemon Athletica Inc shares jumped after the company gave an annual outlook that surpassed analysts’ expectations, driven by high demand for activewear, even as it deals with nagging inventory issues that ate into margins. The stock rose 16% in early trading in New York. If the gain holds, it would be Lululemon’s biggest rise since March 2020. The retailer ...
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30 March
Ryanair resumes talks with Boeing for 200-plane fleet
BLOOMBERG Ryanair Holdings Plc has entered talks with Boeing Co for an order of as many as 200 narrow-body aircraft, in negotiations that stand to last 6-12 months, Chief Executive Officer Michael O’Leary said. The discount carrier has resumed talks with Boeing for the order, with potential delivery slated for the period between 2027 and 2031, O’Leary said in Brussels ...
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30 March
Hong Kong chain Sa Sa raises doubts over tourism revival
BLOOMBERG Hong Kong’s biggest cosmetics chain plans to open just a handful of new stores this year after shutting dozens during the pandemic as doubts remain that the city will return to its pre-Covid heights as a shopping paradise. The cautious outlook from Sa Sa International Holdings Ltd reflects broader pessimism over the pace of the financial hub’s economic recovery ...
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