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

Bloomberg India further reduced — to $3.3 billion — the amount of debt bidders for Air India Ltd will need to absorb and eased some eligibility requirements, as Prime Minister Narendra Modi tries once again to sell the national carrier. Expressions of interest are invited by March 17, according to preliminary terms published on Monday. The entire company will be …

Bloomberg For already-suffering Japanese retailers, the rapidly spreading novel coronavirus could further dent business by keeping away one of their few growing groups of patrons: Chinese shoppers. China’s efforts to control the coronavirus have led to a ban on all tour groups heading overseas, and shut down transportation in multiple large Chinese cities. Limiting the movement of would-be Chinese customers …

Bloomberg Steinhoff International Holdings NV’s European retail unit, which runs the Pepco and Poundland discount chains, is attracting interest from buyout firms, people with knowledge of the matter said. Advent International and Partners Group Holding AG are among private equity firms considering bids for Pepco Group, said the people, who asked not to be identified because the information is private. …

Bloomberg Walmart Inc is testing out a higher minimum starting wage for certain jobs in hundreds of stores as part of a broader overhaul of roles and responsibilities across its massive US workforce. In the 500 or so stores that have introduced the retailer’s new operating model, dubbed “Great Workplace,” some associates in the fresh, front-end and replenishment areas will …

Bloomberg The rapid spread of a deadly virus from China will be top of emerging-market investors’ minds as they ponder its impact on the global economy. Concern that the outbreak will develop into something akin to the Sars pandemic of 2003 halted a seven-week rally in developing-nation stocks, currencies and bonds in the five days through Friday. The yuan underperformed …

Bloomberg Federal Reserve policy makers will keep interest rates on hold this year and next, and will wind up their efforts to boost excess bank reserves by June, economists said in a Bloomberg survey. In the January 21-23 poll, the mean forecast from 28 respondents predicted no move in the federal funds rate until at least 2022, the same as …

Bloomberg If you want to know what long-term negative interest rates are doing to banks, watch Denmark in the coming months. Danes have lived with subzero rates longer than anyone else, after the central bank resorted to the policy in 2012 to defend its currency peg. But according to the country’s financial watchdog, it’s only now that the real cost …

Bloomberg The head of India’s biggest lender said he’s certain “some solutions will emerge” to steady Yes Bank Ltd, which has been on a prolonged quest to raise new capital. “Yes Bank is a significant player in the market with an almost $40 billion balance sheet,” State Bank of India (SBI) Chairman Rajnish Kumar told Bloomberg Television in Davos. “I …

Bloomberg A bond fund manager who correctly predicted that India’s central bank would introduce a US Federal Reserve style Operation Twist, now says that the nation needs more foreign capital to fund its record borrowing. India’s borrowing may rise to 7.6 trillion rupees ($107 billion) for the fiscal year starting from April 1, according to Suyash Choudhary, head of fixed …

Bloomberg Ever since she moved to Frankfurt as European Central Bank (ECB) president three months ago, Christine Lagarde has been working hard to charm the locals. The institution’s new chief has sought to turn a new leaf with Germany after years of cooler relations under her predecessor, Mario Draghi. His stimulus policies, including negative interest rates that erased returns on …