The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Sony Corp and Nintendo Co shares slid after Alphabet Inc’s Google outlined a major push into video games with a streaming service called Stadia. Nintendo dropped as much as 4.6 percent and Sony declined 4.5 percent, the biggest intraday drop in six weeks. Stadia lets developers put games on a streaming platform that will allow players to access the ...
Read More »TimeLine Layout
March, 2019
-
23 March
Trump escalates feud with Fed by picking Moore for board
Bloomberg It looks like a textbook example of political meddling with a central bank in an emerging market, except it’s happening in the US. President Donald Trump said he’s nominating former campaign adviser Stephen Moore to be a governor of the Federal Reserve — potentially putting a political loyalist in lockstep with Trump’s view on juicing the economy into the ...
Read More » -
23 March
US banks tumble as bad news piles up
Bloomberg Big banks extended losses into a fourth day, as 10-year Treasury yields tumbled, the 3-month/10-year yield curve inverted for the first time since 2007, US manufacturing data missed expectations and Europe’s economic outlook darkened. The KBW Bank Index slid 4.5 percent, the most since December 4, to a session low after President Trump said he will nominate long-time supporter ...
Read More » -
23 March
Sweden’s oldest bank risks big fines from $10bn money laundering case
Bloomberg Swedbank AB may now be facing substantial fines for money laundering that could put pressure on its capital buffers. Sweden’s oldest bank has so far failed to convince markets that it stayed on the right side of the law amid allegations it was used to launder more than $10 billion from the former Soviet Union. A report intended to ...
Read More » -
23 March
Delay in new rules spares India banks from bad loan
Bloomberg India delayed the introduction of tough new accounting rules for the second year running, in a move that will spare the country’s banks from adding another layer to the $190 billion pile of bad loans on their books. The Reserve Bank of India said that legislative amendments needed to implement the new Indian Accounting Standards are still under consideration ...
Read More » -
23 March
Deutsche Bank vows to reverse years of revenue slump
Bloomberg Deutsche Bank AG pledged to reverse years of declining revenue and kept a key profit target intact, striking a more upbeat tone than some rivals as it starts merger talks with Commerzbank AG. The defiant outlook — just two days after UBS Group AG warned that the first quarter was one of the worst environments in recent history — ...
Read More » -
23 March
China nears plane order from Africa amid overseas push
Bloomberg Chinese planemaker Comac is nearing an order from an airline in Ghana, a rare advance overseas for the state-owned company as it attempts to become a real challenger to Boeing Co and Airbus SE. Africa World Airlines Ltd, partly owned by China’s HNA Group Co may agree this month to buy two Comac ARJ21 regional jets, the carrier’s chief ...
Read More » -
23 March
Lion Air starts its work on $1bn IPO
Bloomberg Lion Air has started preparations for a domestic initial public offering, people with knowledge of the matter said, as Indonesia’s biggest private carrier seeks to move past an October crash that triggered the crisis surrounding Boeing Co’s 737 Max plane. The company is working with advisers on the planned share sale, which could take place as soon as this ...
Read More » -
23 March
Measles outbreak infects Hong Kong airport staff
Bloomberg Hong Kong’s Department of Health is investigating an outbreak of measles that has infected three workers at the city’s airport. The trio, employees at the Hong Kong International Airport, each developed a rash last week, according to a government statement. Another two cases were announced on Saturday, one involving a man working for an airline and the other, a ...
Read More » -
23 March
Metro’s $1.5bn China sale draws Tencent
Bloomberg German food wholesaler Metro AG’s Chinese business has attracted potential bidders including internet giant Tencent Holdings Ltd and domestic buyout firm Citic Private Equity, people with knowledge of the matter said. Metro kicked off its sale of a controlling stake in the Chinese unit this month and first-round offers are expected to be submitted in April, according to the ...
Read More »