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

  Credit Suisse chose a bad year to cut risk taking. The Swiss bank’s profit warning was headlined with charges for settling old court cases — but revealed a worrying loss of business in its investment bank within. It’s another disruptive squall that the bank’s investors didn’t need. It’s barely a week since its reform-driving chairman Antonio Horta-Osorio was ousted ...

  Bloomberg Cathay Pacific Airways Ltd. is considering hiring options to combat an exodus of pilots from Hong Kong, senior executives said at a town hall, according to a person who attended the meeting. The carrier’s top management, including chief operations and service delivery officer Greg Hughes, told staff that an initial spike in pilot resignations last November had remained ...

  Bloomberg Jazeera Airways’s board approved a deal to purchase of 28 narrow-body planes from Airbus SE as the Kuwaiti carrier expands its network to include long-haul routes. The value of the agreement is $3.4 billion and comprises 20 A320neos and eight A321neos, according to a statement. The companies had signed the pact at the Dubai Airshow in November. Jazeera, ...

  Bloomberg Airbus SE said it will make a flying-taxi model available for sale only when the technology is mature, despite rival designs racking up hundreds of conditional orders at a similar stage of development. The CityAirbus NextGen, unveiled last September following a revamp to an earlier blueprint, will fly by the end of next year once remaining technical challenges ...

  Bloomberg LVMH SE shares surged after the luxury giant bounced back from the depths of the pandemic as customers snapped up items ranging from Christian Dior couture to Hennessy cognac. Revenue last year totaled 64.2 billion euros ($71.6 billion), the Paris-based company said, topping the previous record set in 2019, before Covid-19 lockdowns closed stores and kept shoppers stuck ...

  Bloomberg Philippine Airlines Inc. President Gilbert Santa Maria is stepping down from his role in the carrier, the Philippine Star reported Sunday, citing unnamed people in the industry. The board of directors of the airline, majority owned by billionaire Lucio Tan, is set to meet Monday, and Santa Maria’s departure is on the agenda, the Star reported. A Philippine ...

  Bloomberg Pacifica Beauty LLC, a vegan beauty brand, sold a minority stake to private equity firm Brentwood Associates, according to people with knowledge of the matter. The company is valued at about $250 million in the transaction, one of the people said, asking not to be identified discussing private information. Representatives for Pacifica declined to comment. A spokesperson for ...

  Bloomberg The Taliban have killed dozens of former Afghan officials, security forces and individuals who worked with international troops since the militant group took over the country in mid-August, the Associated Press reported, citing a United Nations report. Of the more than 100 killings identified by the UN Secretary-General Antonio Guterres in a report obtained by the news agency, ...

  Bloomberg Hong Kong denied that criticism of the city’s strict policy to push for zero Covid-19 cases is illegal under a sweeping national security law that has silenced dissent in the former British colony. “Making general remarks and discussion is not illegal,” a government spokesman said in a statement Sunday, adding that the strategy was “the most effective way ...

  Bloomberg If North Korea’s test of its longest-range missile in five years wasn’t worrying enough, the state’s official media released images showing the Earth it said were taken in space from a rocket designed to deliver a nuclear warhead. Images of the weekend launch of its Hwasong-12 intermediate-range ballistic missile were splashed on the country’s biggest newspaper Monday. The ...