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

Bloomberg The Czech Republic’s incoming president said the only limit to weapons deliveries to Ukraine should be nuclear arms, signaling support for sending fighter jets as he expressed confidence that Ukrainian forces can defeat Russia. Petr Pavel, a retired top Nato general who takes office March 9, also said President Vladimir Putin’s government isn’t the only one to possess nuclear ...

Bloomberg The Adani Group’s $120 billion loss in market value after Hindenburg Research accused it of fraud roughly equates to India’s annual infrastructure budget. But the government has shown few signs of worry — or at least that’s the impression it’s giving to the markets. The calculus is tricky. Prime Minister Narendra Modi is considered a close ally of Gautam ...

Bloomberg Turkey is nearing a decision to approve Finland’s accession to the North Atlantic Treaty Organization by next month at the latest, potentially leaving Sweden out in the cold, according to people familiar with the matter. President Recep Tayyip Erdogan is close to concluding that steps taken by Helsinki to address security concerns have been enough for lawmakers to ratify ...

  Bloomberg The US and the Philippines have agreed to resume joint patrols in the South China Sea amid lingering tensions with China in the disputed waters. The decision was reached during Thursday’s meeting between US Defense Secretary Lloyd Austin and his Philippine counterpart, Carlito Galvez, where they also exchanged views “on shared regional security challenges in the Indo-Pacific,” according ...

  Bloomberg The Bank of England (BOE) signalled the fastest pace of interest-rate hikes in three decades may be drawing to a close after it raised its benchmark lending rate a half point. Policy makers led by Governor Andrew Bailey voted 7-2 to raise the benchmark lending rate to 4%, the highest since 2008. The majority said strong pay growth ...

  Bloomberg Barclays Plc is weighing an increase in the bonus pool for its fixed income trading division, with the unit expected to produce record revenue after 2022’s wild market swings. The British bank is considering boosting the overall incentive compensation for fixed income traders by as much as 15%, according to people familiar with the matter. The proposals are ...

  Bloomberg Bank of Montreal (BMO), which just completed its $16.3 billion takeover of Bank of the West, expects to be able to gain share even in US markets where the firm only has a sparse branch presence. The Bank of the West deal expands Bank of Montreal’s US footprint to 32 states and gives it 1.8 million new customers. ...

  Bloomberg Deutsche Bank AG is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit. Meeting expense targets in an inflationary environment will require a redoubling of savings efforts, including job cuts, Chief Executive Officer Christian Sewing said at an earnings press conference. He singled out the lender’s consumer ...

  Bloomberg Denmark’s Nationalbanken raised its benchmark interest rate less than the European Central Bank (ECB) as its new governor seeks to weaken the krone and defend the peg to the euro. The central bank in Copenhagen, which doesn’t hold scheduled meetings, raised the current account rate to 2.1% from 1.75%, it said. The 35 basis-point hike comes on the second ...

  Bloomberg Banco Santander SA’s earnings beat estimates as a revenue boost stemming from central-bank rate hikes offsets the impact of higher expenses and the cost of covering souring loans. The Spanish retail-banking giant posted net income of €2.29 billion in the fourth quarter of 2022, exceeding the consensus analyst forecast of €2.1 billion, according to a statement. The lender ...