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

Bloomberg Deutsche Bank AG agreed to boost wages for 8,000 staff by 5.2% in two steps in a nod to accelerating inflation in Germany. The deal with unions representing employees at its Postbank retail unit was signed, the lender said in a statement. The bank will first raise wages for the covered staff by 3.1% in June and then by ...

  Bloomberg Global bond markets have suffered unprecedented losses since peaking last year, as central banks including the Federal Reserve look to tighten policy to combat surging inflation. The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt total returns, has fallen 11% from a high in January 2021. That’s the biggest decline from a peak in data ...

  Bloomberg Chinese tech stocks extended a rally into a second day on Wednesday, as share buybacks by Xiaomi Corp. and Alibaba Group Holding Ltd. spurred hopes that other tech firms may follow suit. The Hang Seng Tech Index ended 2.1% higher, with Xiaomi gaining 4.1% and Bilibili Inc’s 10% advance among the outperforming names. The gauge has climbed nearly ...

Bloomberg The UK government is preparing to step in and temporarily run Gazprom PJSC’s British retail supply arm as it comes under increasing pressure from companies turning their backs on Russian business over the war in Ukraine. Gazprom Marketing & Trading Retail Ltd is a prime candidate to be taken into the UK’s special administration regime if it fails, to ...

Bloomberg Thailand will freeze retail diesel prices and subsidise cooking gas prices for the low-income groups, part of a raft of measures unveiled to provide relief to consumers hit hard by soaring energy prices. Retail diesel prices will be capped at 30 baht ($0.9) a liter till the end of April, PM Prayuth Chan-Ocha told reporters after a cabinet meeting ...

  Bloomberg Boeing Co faces a new crisis after a 737 jet fell out of the sky in China, renewing concerns about its best-selling family of planes and extending one of the most turbulent periods in the aviation titan’s century-long history. The 737-800 aircraft operated by China Eastern Airlines Corp nose-dived into mountainous terrain with 132 people on board, prompting ...

Bloomberg Traveling to Hong Kong isn’t set to get much easier once a ban on flights from nine countries including the US and the UK is lifted, with Cathay Pacific Airways Ltd planning just one inbound flight every two weeks. The airline said it isn’t able to expand its schedule any more than what it was planning due to “the ...

  Bloomberg Nike Inc shares jumped in late trading after quarterly results beat analysts’ expectations, showing the world’s largest athletic-wear retailer is overcoming struggles with its supply chain and weakness in China. Global sales rose 5% to $10.9 billion for the third quarter, beating Wall Street’s estimates. Revenue outpaced expectations in all regions, including Greater China, where sales fell less ...

Bloomberg Carrefour SA is in advanced talks to sell a controlling stake in its Taiwanese operations to its local minority partner Uni-President Enterprises Corp, according to people familiar with the matter. Uni-President has emerged as the likeliest buyer for the French grocer’s 60% of the business, the people said, asking not to be identified because the matter is private. The ...

  Bloomberg Kohl’s Corp said it has authorised Goldman Sachs Group Inc to coordinate with select bidders for the retailer so they can “refine and improve” their offers with proof of financing and binding documentation. Kohl’s said in a statement that it has received multiple preliminary indications of interest that are nonbinding and don’t have committed financing. Separately, the company ...