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

  Bloomberg BNP Paribas SA’s personal finance unit lost a case at France’s highest court in its dispute over swiss-franc mortgages marketed between 2008 and 2009. France’s Cour de Cassation said that the bank had not given enough information to its customers about the loans’ mechanism, according to the decision that partially overturned an earlier ruling. The loans, which were …

  Bloomberg Stocks in Hong Kong attracted record inflows via exchange-traded funds in March, as retail investors took advantage of a historic dip and an ensuing rebound to bet on further gains. Some 60 equity ETFs tracking the city’s indexes added $4.4 billion since end-February, the most in monthly data compiled by Bloomberg going back to 2000. The Tracker Fund, …

  Bloomberg Energy stocks dropped with oil prices as investors weighed reports that the Biden administration is considering a massive release of crude from US reserves to fight inflation. Stocks in Europe are set for the first quarterly decline since 2020. Shares in big US energy companies declined in premarket trading, while index futures mostly advanced, Treasuries held gains and …

  Bloomberg A controversial UK oil project won a license extension, keeping open the possibility of development even after Shell Plc retreated amid a backlash from climate protesters. The Cambo field has received a two-year extension from the energy regulator, operator Siccar Point Energy Ltd said. The project was put on ice late last year after minority owner Shell chose …

  Bloomberg A team of US airplane accident investigators and technical experts could head to China as soon as this week to help unravel the mysterious crash of a Boeing Co 737 jet earlier this month, the National Transportation Safety Board (NTSB) said. The Chinese government has issued visas to NTSB investigators, along with technical advisers for the US Federal …

  Bloomberg Austin, Texas, airport officials warned of an impending jet-fuel shortage amid a surge in travel to and from the state’s capital city. Austin-Bergstrom International Airport issued a fuel-shortage alert and urged airlines to carry extra fuel or send in more supplies via tankers, said Sam Haynes, a spokesperson. With 282 flights scheduled for today & 1,600 + more …

  Bloomberg Europe’s biggest mall landlord plans to turn half a billion shoppers into a huge new advertising audience. After two-years of turmoil unleashed by Covid-19, Unibail-Rodamco-Westfield is working on how it can leverage its shoppers as it charts its recovery to pre-pandemic levels. At the heart of its strategy is a plan to track, monitor and profile the 550 …

  Bloomberg A BNP Paribas Exane analyst slapped a sell-equivalent rating on Amazon.com Inc’s stock, the first time in two years anyone on Wall Street has been bearish on the shares. Amazon’s capital spending is going to be much higher than the market expects, while profit margins will be hurt by “inflation shocks,” analyst Stefan Slowinski said in a phone …

  Bloomberg UK airport ground-handling specialist John Menzies Plc accepted a $750 million takeover bid from Kuwaiti suitor Agility Public Warehousing Co that had been sweetened for a third time. The Menzies board backed the offer of 608 pence a share in cash after Agility subsidiary GIL International issued a formal proposal, the companies said. The bidding had started with …

  Bloomberg Lululemon Athletica Inc delivered a sales forecast for this year that exceeded analyst estimates, suggesting that the company is overcoming supply-chain snags that disrupted operations earlier this year. The athletic-wear retailer expects sales to reach as much as $7.62 billion in the current fiscal year that ends next January. The average analyst estimate was $7.2 billion. The company’s …