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

Bloomberg Germany’s DAX Index is starting the second half of the year with a bang as the benchmark is set to enter a bull market. The gauge rose as much as 1.8 percent in the first hour of trading on Monday, bringing the total gain to 22 percent since a closing low on December 27. The guage is up 1.5 ...

Bloomberg The dollar fell against the yuan and commodity-related currencies in Asia-Pacific trading on Monday after the US and China backed down from threats to escalate their trade war. Haven currencies weakened. The yen and Swiss franc, which tend to act as refuges in times of market distress, declined against the greenback, while the Australian dollar — a proxy for ...

Bloomberg Christian Sewing is preparing to undo over a decade of failed expansion at Deutsche Bank AG. The chief executive officer may slash headcount by more than a fifth — as many as 20,000 positions — in what’s shaping up to be the troubled lender’s biggest makeover in years, two people familiar with the matter said. Some of the heaviest ...

Bloomberg Singapore will issue as many as five new digital bank licenses to non-bank firms as the island nation seeks to strengthen competition in financial services, according to one of its top regulators. “We welcome firms with innovative value propositions to apply for the new digital bank licenses, even if they have not yet established a track record in banking,” ...

Bloomberg Riksbank Governor Stefan Ingves, who has likened the world’s major central banks to elephants, is likely to ignore the growing momentum for easing emanating from Frankfurt and Washington, for now. Ingves and his colleagues in Stockholm are seen keeping their benchmark rate unchanged at minus 0.25 percent as they meet this week. It’s a close call whether they will ...

Bloomberg Beset by years of a lackluster results, Nordea Bank Abp is switching out its chief executive officer to find new momentum in its search of top-line growth. The biggest Nordic bank announced that Casper von Koskull, 58, will retire by the end of next year, and could step aside even sooner as the search for a successor has started. ...

Bloomberg Indonesia’s central bank, one of the most aggressive interest rate hikers in Asia last year, is taking its time to lower rates. Even with the US Federal Reserve signalling it may ease soon and peers including India, the Philippines and Malaysia already cutting, Bank Indonesia is worried about scaring off foreign investors if it moves too much or too ...

Bloomberg Four of the world’s leading aircraft regulators have agreed in principle to coordinate in restoring Boeing Co’s 737 Max to service once they’re confident that technical updates and new training meet safety standards. The tentative pact is an attempt to avoid the fractious approach taken in grounding the jet after two deadly crashes, people familiar with the discussions said. ...

Bloomberg Beijing’s second international airport has been completed — and it’s expected to become one of the world’s busiest. Designed to take the pressure off the overcrowded Beijing Capital International Airport, the new site south of the city will be able to handle 72 million passengers a year by 2025, and 100 million by 2040. Combined, the two airports will ...

Bloomberg South Africa’s Bidvest Group Ltd won court approval to sell its holding in Mumbai International Airport to a third party, dealing a blow to majority holder GVK Power & Infrastructure Ltd’s bid to increase its ownership. The ruling allowed unit Bid Services Division (Mauritius) Ltd to divest its 13.5 percent stake, dismissing GVK’s effort to exercise its right of ...