The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  BLOOMBERG Global stocks climbed for the first time in four days amid earnings reports in Europe and America that topped estimates. The yen strengthened a second day ahead of central bank decisions from Japan and the U.S. The Standard & Poor’s 500 Index climbed and banks led European shares higher after a three-day slump. The yen rose and Treasuries ...

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.58% to close at 4682.01 points. Accordingly the Market Capitalization has lost AED 4.4 billion attaining AED 759.48 billion. A total of 387.88 Million Shares were traded with a total value of 0.64 Billion AED during the trading session of 26-04-2016 through 5762 transactions. The number of companies ...

  Prague / Reuters Czech lender GE Money Bank set the pricing range for its initial public share offer, potentially Prague’s biggest in eight years despite the valuation falling below some expectations, and said it would change its name to MONETA Money Bank. GE Money, which is being sold by GE as the US group moves away from financial activities, ...

  Hong Kong / AFP Standard Chartered has announced on Tuesday first quarter profits slumped 64 percent year-on-year as revenue for the period also plunged, following a turbulent 2015 in which the troubled bank announced it would axe thousands of jobs. The Asia-focussed bank said profits for the first three months fell to $539 million from $1.49 billion in the same ...

  New York / AFP Goldman Sachs has officially launched an online bank targetting households and small businesses as it expands from its Wall Street base and aims for the masses. The online-only GS Bank permits consumers to open an account for as little as $1, a big shift for a financial powerhouse that has built itself around serving billionaires and ...

  Tokyo / Reuters Japanese government bonds (JGBs) stayed firm on Tuesday, with prices of superlong JGBs rallying after strong results of the Bank of Japan’s (BOJ’s) buying operations. The central bank offered to buy 450 billion yen ($4.06 billion) of JGBs in the 5- to 10-year zone, 220 billion yen of JGBs in the 10- to 25-year zone and ...

  Reuters SWIFT, the global financial network that banks use to transfer billions of dollars every day, warned its customers that it was aware of “a number of recent cyber incidents” where attackers had sent fraudulent messages over its system. The disclosure came as law enforcement authorities in Bangladesh and elsewhere investigated the February cyber theft of $81 million from ...

  Bloomberg It’s taken nine years, but the number of U.S. homes in foreclosure has fallen to a level not seen since before the 2008 housing crisis. More troubled borrowers are making their way through the foreclosure process, which can take more than five years on average in some states. The number of properties in active foreclosure declined by 24,000 ...

  Bloomberg Purchases of new homes in the U.S. unexpectedly declined in March for a third month, reflecting the weakest pace of demand in the West since July 2014. Total sales decreased 1.5 percent to a 511,000 annualized pace, a Commerce Department report showed on Monday. The median forecast in a Bloomberg survey was for a gain to 520,000. In ...

Bloomberg Qatar Airways could switch its order for Airbus Group SE A320neo jetliners to Boeing Co.’s 737 model if issues with the European aircraft’s Pratt & Whitney engines aren’t resolved by the middle of the year. Moving from the Pratt-powered variant of the revamped A320 to a version that uses engines from CFM International isn’t an option as those planes ...