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

Bloomberg One assessment of the Hong Kong dollar’s dramatic turnaround in recent months is that it’s a sign of things to come. The moves reveal structural tightness in the city’s liquidity conditions, according to Morgan Stanley. Hong Kong banks have far less idle cash on hand, after the amount of funds on loan soared to the highest since 2002 relative ...

Bloomberg Hedge funds betting on Chinese equities surged last year, standouts in an industry that struggled to outsmart the longest-running bull market in history. A number of funds focused on mainland stocks posted double-digit returns in 2019, according to people familiar with the matter and investor letters seen by Bloomberg. Star performers included Greenwoods Asset Management’s $2.2 billion Golden China ...

Bloomberg India’s beleaguered developers see a glimmer of hope after the nation’s biggest bank announced a programme that could unclog choked funding lines to the property market. State Bank of India (SBI) said it will finance both builders and homebuyers, charging developers a premium and offering the latter a refund if their apartments are left unfinished. While Sunteck Realty Ltd ...

Bloomberg Amazon.com Inc founder Jeff Bezos is likely to be greeted by an unprecedented show of opposition during his short India visit this week, after thousands of small-time local retailers pledged to protest its pricing and exclusive-selling practices. The Amazon chief executive is slated to headline the inaugural session of Amazon India’s event for small and medium businesses — “smbhav” ...

Bloomberg UK regional airline Flybe Group Plc is in crunch talks with the British government for emergency financing, less than a year after a group fronted by Virgin Atlantic Airways Ltd stepped in to rescue the unprofitable carrier, Sky News reported. EY is on standby to handle any potential liquidation, according to the report, which cited unidentified aviation industry sources. ...

Bloomberg Walmart Inc has fired 56 employees in India as it restructures its business in the country but has no plans to shut down physical operations, the company said in a statement refuting a report in the local media. The world’s largest retailer “remains committed” to growing its wholesale retail business in India, Walmart India’s Chief Executive Officer Krish Iyer ...

Bloomberg The opening gambits by Boeing Co’s new boss show the risks Dave Calhoun is willing to take to reset the deeply troubled planemaker. Calhoun, who officially took charge on Monday, pushed to release humiliating internal messages last week even though they may darken public perception for years to come — with Boeing’s own employees suggesting rot in a once-vaunted ...

Bloomberg The search is on for a tenant at a Times Square building that is home to American Eagle Outfitters Inc’s mega-flagship store. Real estate brokers are marketing the entire four floors at 1551 Broadway, in the heart of the busy tourist district, according to people with knowledge of the matter, who asked not to be named because the plans ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, announced that the 2020 budget would reach AED29.1 billion budget, a two percent increase compared to the 2019 budget. The approved budget will see an increase in expenses across several sectors, including infrastructure, social programmes, economic activities, culture and education, among ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, on Sunday formalised three loan agreements valued at $33 million (AED121 million) with the Governments of Togo, Niger and Liberia. The agreements were signed in Abu Dhabi during the 10th Session of the International Renewable Energy Agency (Irena), Assembly. Mohammed Saif Al Suwaidi, ...