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

Fear has taken control in the bidding war for German lighting group Osram Licht AG. A raised bid of 4 billion euros from AMS AG is well above what the target’s shareholders appeared happy to accept and what rival bidders had put on the table. Osram shareholders win. For AMS’s investors and staff, the risks have substantially increased. The sweetener ...

Private bankers have been gripped by their very own thriller this week, complete with Credit Suisse Group AG spying on a departing executive, an alleged car chase and a bust-up. Managing money for the rich isn’t what it used to be. Prosecutors are probing the incident and Switzerland’s second-largest bank is conducting its own inquiry to determine who among the ...

Bloomberg US stocks fell, while Treasuries rose after a key gauge of manufacturing posted the weakest reading since the end of the last recession. Gold turned higher along with the yen. The S&P 500 declined for the third time in four sessions, erasing an earlier advance more than 0.5 percent, after the Institute for Supply Management’s factory index slipped to ...

Bloomberg What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70 percent of all the digital-asset world’s market value, you’re probably wrong. While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly ...

Bloomberg Indian regulators’ ability to come to grips with the nation’s banking crisis has been thrown into doubt amid reports that a cooperative lender had extended outsize loans to an insolvent developer. The Reserve Bank of India took the rare step of limiting withdrawals from Mumbai-based Punjab & Maharashtra Co-operative (PMC) Bank Ltd. Local media reported that loans to Housing ...

Bloomberg Indiabulls Housing Finance Ltd, a major Indian shadow lender that’s caught in the crosshairs of the troubles plaguing the industry, is seeking to bring forward a court hearing on fraud allegations after a record share slump. The development represents an effort to get out ahead of recent headlines that contributed to its share price losing an unprecedented 34 percent ...

Bloomberg Kiatnakin Bank Pcl, one of Thailand’s smallest publicly traded lenders, is open to a merger as competition from other banks and technology firms intensifies. The bank plans to expand its wealth management business, while being more cautious with automobile loans, one of its biggest lending areas, President Philip Chen Chong Tan said in an interview. Thailand’s aging population has ...

Bloomberg Nigeria’s central bank is increasing pressure on lenders to keep providing credit to boost economic growth in Africa’s biggest oil producer. The West African nation’s banking regulator raised the minimum loan-to-deposit ratio to 65 percent from 60 percent to “sustain the momentum” seen in lending since it first lifted the measure in July, it said. Banks have until December ...

Bloomberg Credit Suisse Group AG exonerated Chief Executive Officer Tidjane Thiam as one of his key allies took the fall for a corporate spying scandal that shook Zurich’s financial elite and tainted the bank’s reputation. Chief Operating Officer Pierre-Olivier Bouee, the CEO’s chief lieutenant at three companies for more than 10 years, stepped down after ordering detectives to shadow former ...

Bloomberg Pilots at Southwest Airlines Co, the largest operator of the beleaguered Boeing Co 737 Max, warned that the grounded plane may not resume commercial flights until as late as March. The carrier’s internal plans call for the Max to carry its first paying customers 45 to 60 days after US regulators lift a no-fly order on the plane, Greg ...