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

Bloomberg Australia’s financial stability risks have increased over recent months and some households and businesses are already facing “more challenging conditions” as interest rates rise and inflation accelerates, the Reserve Bank said. “Household income growth has not kept pace with inflation,” the RBA said in its semi-annual Financial Stability Review released in Sydney on Friday. “This has left households with …

Bloomberg Citigroup Inc. plans to offer automatic-sweep products seven days a week as banks respond to clients’ demands for higher interest rates on deposits and faster access to their cash. Starting with the US and South Korea, the New York-based bank will now allow customers to automatically move funds into one central cash-management account every day, according to a statement. …

Bloomberg Bank of America Corp.’s wealth unit rolled out a digital program that matches consumers with an adviser to meet rising demand for financial guidance. The firm’s Merrill Wealth Management business launched Merrill Advisor Match to capture new consumers looking for help investing and managing their money. “We want to make it easier and simpler for individuals who are seeking …

Bloomberg Mongolia is facing a worsening foreign currency crunch following Russia’s war with Ukraine and a slump in China’s economy, forcing local banks to restrict the amount of dollars customers can buy. Khan Bank, the country’s largest bank measured by total assets, limited the daily amount of cash that can be converted into foreign currencies to 1 million tugrik ($300) …

  Bloomberg Peru raised interest rates for a 15th straight month in a bid to get inflation back under control and limit the risk of capital flight as the US Federal Reserve withdraws stimulus. The central bank raised its benchmark rate by a quarter of a percentage point to a two-decade high of 7%, in line with expectations. That’s up …

  Bloomberg US equity-index futures wobbled between gains and losses as investors awaited the latest payrolls report for clues on the monetary-policy path after a raft of Federal Reserve officials doused expectations for a quick halt to rate hikes. December contracts on the Nasdaq 100 Index fall 0.3%, trimming deeper losses, amid premarket declines for semiconductor stocks. Advanced Micro Devices …

Bloomberg In the world’s third biggest economy, public skepticism toward financial investing has become so entrenched that investment bank Nomura Holdings Inc. is teaching economic basics in high schools to win over the next generation. About eight in 10 Japanese have never invested in securities, according to a lobby group for the nation’s brokers. Securities and investments account for only …

  Bloomberg China has traditionally split aircraft orders evenly between Airbus SE and Boeing Co. Recently though, there’s been a shift against the American half of the world’s planemaking duopoly. Boeing missed out on a 40-plane deal in September, following an even bigger hit in July, when China ordered nearly 300 Airbus aircraft worth about $37 billion at sticker prices. …

  Bloomberg Virgin Atlantic Airways Ltd. is pulling out of Hong Kong for good, cancelling flights and closing its offices in the Asian financial hub, ending a 30-year history in the city. The UK airline said in a statement that several factors contributed to its decision, including, on the basis of Russian airspace remaining closed, that Heathrow-Hong Kong-Heathrow flight times …

  Bloomberg Plane aficionados now have a chance to own a piece of one of the world’s most iconic aircraft — Airbus SE’s A380, the largest and most spacious passenger jet. Airbus is holding a three-day auction of some 500 pieces of the superjumbo, starting October 13. Items on sale include lamps, a bar, trolleys, seats, emergency exit signs, baby …