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

Bloomberg Societe Generale SA fell short of a pledge to pay out half of its underlying profit to shareholders, even after its fixed-income traders handed Chief Executive Officer (CEO) Frederic Oudea a bigger-than-expected profit. Revenue from buying and selling fixed-income products and currencies jumped 56% in the fourth quarter, beating analysts’ estimates as well as all main rivals so far. ...

  Bloomberg ABN Amro Bank NV reported fourth-quarter profit that beat analysts’ expectations as the Dutch lender restrained costs and announced a $536 million share buyback. Net income of €354 million in the three months through December compared with expectations for profit of €55.1 million, with the result aided by a combination of lower loss provisions and operating expenses, according ...

  Bloomberg BNP Paribas SA plans to buy back €5 billion ($5.4 billion) of shares after the sale of its US unit, and raised its profitability targets as traders posted a quarter that beat many Wall Street peers. The Paris-based bank is set to distribute about €4 billion related to the sale of Bank of the West and €962 million ...

  Bloomberg India’s central bank (RBI) slowed the pace of interest-rate increases while keeping the door open for further policy tightening to curb core inflation. The RBI’s six-member Monetary Policy Committee voted 4-2 to raise benchmark repurchase rate by a widely expected quarter-point to 6.50%, slowing from the 35 basis-point hike in December. The panel also retained its stance of withdrawing ...

  Bloomberg US futures retreat amid mixed earnings reports, while stocks caught up with late advances on Wall Street spurred by a sanguine rates outlook. Oil extended an advance. Contracts on the three major US gauges fell, following Tuesday’s rally after Federal Reserve Chair Jerome Powell refrained from pushing back against investor optimism. Chipotle Mexican Grill Inc. dropped in premarket ...

Bloomberg Masayoshi Son is now personally on the hook for about $5.1 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, as losses mounted at its core Vision Fund venture capital arm. Son, whose stake in SoftBank grew in recent months, also owns portions of the company’s key investment vehicles. While these holdings have ...

  Dubai / Gulf Time MaximiliaN London, which was founded in London in 1999, presents a varied collection of fine jewelries for Valentine’s Day. The collection contain new additions which reflect the aesthetic and nuanced designs created by elite artists, designers and jewelers from all over the world, who share one passion which is Gemstones. MaximiliaN London produces a collection ...

  Dubai / Gulf Time Danube Sports World, the newest venture under the prestigious Danube Group, is all set to become the region's favourite indoor sports destination. The facility officially opened its doors to sports and fitness enthusiasts in Dubai on February 4 with a grand event that was attended by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance ...

  ABU DHABI / WAM The UAE has expressed its sincere condolences and solidarity with the Republic of Chile over wildfires affecting several areas of the country, which resulted in numerous deaths and injuries. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy to the Chilean government and the families of ...

SHARJAH / WAM The first Emirati-Thai Business Council was launched during the UAE-Thai business forum, organised by the Federation of UAE Chambers of Commerce and Industry (FCCI). The forum discussed ways to boost economic relations between the two countries. The Sharjah Chamber of Commerce and Industry (SCCI) hosted the meeting in conjunction with a visit from a Thai business delegation ...