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

Bloomberg Santander Brasil Chief Executive Officer Sergio Rial will step down from the role after almost six years at the helm of the bank. The change, announced in a filing, will happen at the end of the year. Rial, who’ll become chairman and will remain a member of the bank’s board in Spain, will be replaced by Mario Roberto Opice …

Bloomberg Barclays Plc’s investment bankers brought in a record haul as the booming deals market extended through the second quarter, offsetting more muted results in trading and helping the group to deliver improved profit and fresh shareholder payouts. Income from capital markets and merger advisory at the London-based lender rose by almost a fifth to 873 million pounds ($1.2 billion), …

Bloomberg US futures rose with European stocks as positive earnings boosted sentiment, while Asian equities were weaker amid Chinese market turbulence. Treasuries fell ahead of the Federal Reserve’s rate decision. Contracts on the Nasdaq 100 Index and the S&P 500 rose, with Alphabet Inc and Microsoft Corp gaining in premarket after their sales topped estimates. Apple Inc dropped 0.9% on …

Bloomberg A continuing recovery in Bitcoin has put the largest cryptocurrency on course for its longest winning streak this year. The virtual coin rose as much as 6.1% to top $40,000 and was trading at about $39,700 as of 8:15 am in London on Wednesday. It’s advanced for eight straight days. Other coins including second-ranked Ether climbed, boosting the Bloomberg …

Bloomberg While Chinese markets might look bleak at the moment, the biggest government bond selloff of 2021 has some investors salivating at a buying opportunity. Risk aversion swept the country and spread globally this week after China cracked down on private-education firms. Although reassurance from state media on Wednesday helped stem a selloff in stocks, sentiment remains fragile. The same …

Bloomberg Oil steadied as the resurgent pandemic posed a fresh threat to fuel demand even as global crude markets continued to tighten. Futures fluctuated near $72 a barrel in New York. The rebound in key energy consumers such as the US and China has helped to underpin increasing fuel consumption and drained bloated stockpiles built up during the pandemic. The …

ISLAMABAD / WAM Pakistan and Saudi Arabia on Tuesday agreed to strengthen their relationship particularly in the economic domain including cooperation in trade, investment and technology. Foreign Minister Shah Mahmood Qureshi and his Saudi counterpart Prince Faisal bin Farhan bin Abdullah in a joint presser held at the Ministry of Foreign Affairs, vowed to continue extending support to each other …

Bloomberg Ryanair Holdings Plc intends to pump more capacity into European markets in the coming months, keeping ticket prices low so it can overpower weaker rivals as travel rebounds in Europe. The region’s biggest low-cost carrier said that it expects to post a profit this quarter, even as it prioritises filling planes until demand fully rebounds. The summer high season …

Bloomberg South Africa’s Mango Airlines will enter a local form of bankruptcy protection, according to the head of its parent, South African Airways (SAA). There’s agreement between shareholders and the board on the matter, and Mango is consulting with labour groups, SAA interim Chief Executive Officer Thomas Kgokolo told eNCA television. Mango employees were seeking to force the low-cost carrier …

Bloomberg American Airlines Group Inc and Southwest Airlines Co are carrying extra jet fuel on some flights and considering adding stops to other routes to pick up fuel as snarls in US trucking and supply chains delay deliveries to small and mid-sized airports across the country. The delays are expected to continue through mid-August, American told its pilots in a …