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

Bloomberg The Bank of Japan said it’s “more positive” about adding monetary stimulus as it eyes a global shift in which the Federal Reserve is set to cut interest rates on Wednesday for the first time since 2008. While Governor Haruhiko Kuroda kept policy unchanged despite trimming inflation forecasts, he added a phrase to the policy statement saying the BOJ ...

Bloomberg Deutsche Lufthansa AG said threats to its financial outlook are mounting after a fare war and stuttering global economy dented second quarter-earnings, adding to the gloom surrounding Europe’s airline industry. Lufthansa warned that the fight for market share means business trends could deteriorate further in the second half, sending the stock down 7.4 percent even as the group stood ...

Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary harangued Boeing Co over the grounding of the 737 Max jet, saying he’s concerned the Irish carrier will receive zero planes by summer 2020. Ryanair, Boeing’s biggest European customer for the Max, has already slashed its estimate for the number of aircraft likely to be available for next year’s peak season. ...

Bloomberg Shoprite Holdings Ltd rallied the most in 22 years after Africa’s largest food retailer said second-half sales climbed as it took market share. Sales in the second half rose 6.5 percent as its core South African business returned to full operational strength, the Cape Town-based supermarket operator said in a statement. The owner of chains including Checkers and U-Save ...

Bloomberg UK demand for unsecured debt stabilised last month while mortgage approvals increased, Bank of England figures show. While households have been tightening their belts this year as Brexit clouds the outlook, the June figures suggest consumers, the mainstay of economic growth, are still willing to spend. Retail sales unexpectedly surged after two months of declines, ONS figures showed. Mortgage ...

Bloomberg Primark is asking landlords to cut its rents in an attempt to compete with rivals that used insolvency proceedings to reduce costs and remain open, the Sunday Times reported, without saying where it got the information. The fast-fashion retailer is asking for cuts of as much as 30 percent on contracts with several years left in exchange for lease ...

Bloomberg Beyond Meat Inc plummeted 11 percent on a plan by inside shareholders and the faux-meat company to sell more than 3 million shares, just three months after it went public. The transaction will let early investors such as Kleiner Perkins and Obvious Ventures and executives including Chief Executive Officer Ethan Brown take profits on a small portion of their ...

ABU DHABI / AGENCIES Abu Dhabi’s Mubadala Investment Company on Monday released its full-year 2018 annual review showcasing operational performance and significant scale across sectors with strong growth potential. Despite global macroeconomic turbulence in the fourth quarter of the year, the group delivered stable financial results, with total comprehensive income at AED12.5 billion. In line with Mubadala’s strategy to diversify ...

Abu Dhabi / WAM The balance of the UAE Central Bank’s deposit certificates rose to record levels during the first half of 2019, reaching around AED155.8 billion at the end of June, according to statistics issued by the bank highlighting its policy of withdrawing surplus liquidity. The value of surplus liquidity withdrawn in June amounted to around AED8.8 billion. The ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) announced signing of a mutual entry visa exemption agreement between UAE and Equatorial Guinea, which come into force from July 28. The agreement stipulates that UAE citizens may travel to Equatorial Guinea and stay up to 90 days without requiring pre-entry visa. It also stipulates that holders ...