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

BERN / Bloomberg For the second time in less than four months, the Swiss National Bank (SNB) president has seen the franc weaken rather than strengthen in the wake of new European Central Bank stimulus. That relief means Jordan and his fellow policy makers won’t cut rates on March 17, according to the majority of economists in a Bloomberg survey. ...

BERLIN / Bloomberg Chancellor Angela Merkel’s government is partly to blame for market mistrust in Deutsche Bank AG because it spearheaded implementation of new liability rules for bondholders in a law passed last year, the lender’s Co-Chief Executive Officers John Cryan and Juergen Fitschen told the Frankfurter Allgemeine Zeitung (FAZ). While the government has solved the problem of liability capital, ...

BEIJING / BLOOMBERG Alibaba Group Holding Ltd. has set the fees it’s offering to banks on its loan of upto $4 billion, according to people familiar with the matter. China’s largest online emporium is offering 60 basis points to lenders committing $200 million and above to the facility, which banks are starting to market from $3 billion, according to the ...

NEW YORK / Bloomberg Morgan Stanley, one of the Wall Street banks that deals directly with the Federal Reserve, cut its bond yield forecasts for 2016 and said the US central bank will wait until December before raising interest rates. “The global backdrop for rates markets looks so supportive that 2016 may become known as the ‘Year of the Bull,’” according ...

Bloomberg China Overseas Land & Investment Ltd. said it will buy the Chinese residential property assets held by Citic Ltd. for about 31 billion yuan ($4.8 billion), as it expands its presence across the nation’s cities amid surging land prices. China Overseas will sell 1.1 billion shares at HK$27.13 each to the Citic companies as part of the transaction, it ...

Bloomberg Anbang Insurance Group Co.’s $6.5 billion agreement to buy 16 U.S. luxury resorts and hotels from Blackstone Group LP marks a record transaction for Chinese buyers of American real estate, showing the strong appetite for high-profile properties viewed as stable investments. The pending acquisition of Strategic Hotels & Resorts Inc. will give Anbang ownership of trophy properties across the ...

Emirates Business High rents, extortionate school fees and increasing levels of consumer debt, are prompting a growing number of the UAE’s expat community to re-think their spending patterns. One of the ways they adopt to rein in their financials is to buy second-hand goods. Many of them earn a few bucks by selling some of their own unwanted items too, ...

Dubai / Emirates Business As a leading financial institution, Mashreq continues to be recognized in the global banking space, winning three of the foremost industry awards in 2016 — Best Retail Bank UAE, Best Digital Bank UAE and Best Customer Experience UAE. These were all conferred from The Global Banking and Finance Review which recognizes the financial institutions around the ...

Emirates Business Health, teamwork, persistence and overcoming hurdles encompass the enthralling and exhilarating tenets of the Active Zone in the upcoming Mother of the Nation festival, which marks reverence to all mothers and their focus on developing healthy families and encouraging teamwork. Organised by Abu Dhabi Tourism & Culture Authority and being held along the Abu Dhabi Corniche Beach from ...

Emirates Business Marka PJSC, the first public joint stock retail operator in the UAE, announces a strategic partnership with Shiseido, the leading Japanese Beauty brand, marking the launch of the region’s first Shiseido Beauty Boutique, located at Dubai’s premier outdoor retail space, City Walk Phase II due to open in Q2 of 2016. Nick Peel, Marka’s CEO, commented, “It’s an ...