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Bloomberg Deutsche Bank AG’s Japan chief Makoto Kuwahara will leave the German lender after five years in charge of operations in the country, to join Credit Suisse Group AG. Kuwahara, who is also president of local unit Deutsche Securities Inc., is departing to pursue other interests, Deutsche Bank said in a statement. He will be replaced by Tamio Honma, head …

Bloomberg Bank of Montreal (BMO) set a profit record for its US business, thanks in part to Donald Trump’s tax cuts and lower provisions for bad loans. The lender earned $281 million from its US personal-and-commercial division in the fiscal third quarter, helped by rising revenue, and tax reform gains. Earnings for the US business, which includes Chicago-based BMO Harris …

DUBAI / WAM Emirates has announced that it will boost its services to Riyadh with the addition of a fourth daily flight to the Saudi capital from September 1. The addition of the fourth daily service will take the total number of weekly Emirates flights serving Riyadh to 28. Adil Al Ghaith, Senior Vice President Commercial Operations, Gulf, Middle East …

Bloomberg Donald Trump has signed off on a bilateral agreement with Mexico to revamp the North American Free Trade Agreement, according to three people familiar with the matter. “A big deal looking good with Mexico!” Trump tweeted earlier on Monday. There is no deal reached yet with Canada, the people said, which has been on the sidelines of the talks …

Bloomberg Saudi Arabia has granted its state-owned oil company a 40-year concession to exploit the kingdom’s hydrocarbon reserves as part of Aramco’s preparation for a potential initial public offering, a person familiar with the matter said. The pact replaces norms dating in some cases from 1933, when the kingdom first agreed to let companies drill for oil there, the person …

Bloomberg Oil held above $68 a barrel on slowing American drilling and investor optimism after a breakthrough in a trade standoff between the US and Mexico. Futures in New York were little changed, following a 1.3 percent gain. Working oil rigs in the US declined by the most since May 2016 last week, according to Baker Hughes data. Crude has …

Dubai / Emirates Business Bayt.com launched a series of technological features and enhancements set to revolutionize job hunting and the recruitment process for the Middle East and North Africa (Mena) region. The new Artificial Intelligence powered features are designed to match talent with opportunity in a much more powerful and efficient manner. The first of these new features is the …

Bloomberg US stocks added to all-time highs, and Mexico’s peso rallied versus the dollar as the Trump administration closed a bilateral trade deal with America’s southern neighbor. Treasuries fell. The S&P 500 Index rose as President Donald Trump unveiled details of the agreement that he says will replace Nafta. The peso rallied Mexico. European shares advanced, though a British holiday …

Bloomberg One of the world’s top-performing global stock funds is betting against Amazon.com. It’s not so much that Amazon won’t flourish, but that the recent rally in global technology behemoths has made brick-and-mortar retailers cheap in comparison, according to Norwegian fund Storebrand Global Multifactor. The valuations right now are “too pessimistic for the retailers and too optimistic for Internet retailers,” …

Bloomberg A deadline set by India’s central bank to restructure an estimated $52 billion of stressed loans may push dozens more companies into bankruptcy. The Reserve Bank of India in February introduced new rules and a 180-day timeline for banks to recast loans once payments are missed, scrapping previous methods that could take an indefinite amount of time. Companies that …