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

Bloomberg The Reserve Bank of India (RBI) will lose one of its most outspoken officials, raising further questions about the independence of the central bank six months after the governor resigned under a cloud. Deputy Governor Viral Acharya has asked to leave the central bank, citing “unavoidable personal circumstances,” the RBI said in a statement on Monday. His resignation request, ...

Bloomberg Natixis SA went into crisis-fighting mode to stem a wave of outflows from its H2O Asset Management unit, selling part of its non-rated private bonds and marking down the balance in order to remove incentives for investors to pull even more. The move cuts the aggregate market value of the bonds, which were issued by companies linked to financier ...

Bloomberg Denmark’s biggest bank, already struggling to recover from a money-laundering scandal, fired the man who until last month was interim CEO because some clients paid too much for an investment product. Danske Bank A/S said on Monday that it had dismissed Jesper Nielsen, head of banking in Denmark, after it emerged that tens of thousands of domestic customers were ...

Bloomberg US banks might be happy to stay away from Facebook Inc.’s push into cryptocurrencies. For now. The Libra Association, the governing body for the coin, is in talks with lenders around the world to join its ranks. Banks are mostly keeping their distance after seeing tepid consumer reaction to digital wallets such as Apple Pay and regulatory scrutiny of ...

Bloomberg Carrefour SA has agreed to sell an 80 percent stake in its China unit for $698 million in cash to local retailer Suning.com Co as it rethinks its exposure in the world’s No. 2 economy after years of decline. The yielding of control comes after a long search for a partner for the French company’s struggling Chinese operations. Once ...

Bloomberg Deutsche Lufthansa AG adjusted its dividend policy and unveiled a revamp of its money-losing Eurowings arm in a bid to soothe investor worries a week after issuing a second profit warning this year. Europe’s biggest airline will rebase the dividend to 20 percent to 40 percent of adjusted net income, a measure a spokesman said would provide flexibility for ...

Bloomberg Asia’s largest retailer is hoping that a $280,000 annual salary and a managerial title in three years will lure top talent as | it grapples with one of the tightest labour markets in Japanese history. The salary being considered by Uniqlo owner Fast Retailing Co would be more than three times the average pay at the company, and nearly ...

Bloomberg A flight attendants strike has forced Taiwan’s EVA Airways Corp to cancel hundreds of flights, just as the peak summer vacation season starts to get under way. The airline will scrap a total of 852 flights in the eight days to June 28, an EVA Airways spokesperson said by text message on Monday. Flights between Taipei and Hong Kong ...

Bloomberg Delta Air Lines Inc bought a stake in the parent of its joint-venture partner Korean Air Lines Co, deepening a push into Asia and bolstering the controlling family in its face-off with activist investors. The Atlanta-based airline acquired 4.3 percent of Hanjin Kal Corp, Korean Air’s largest shareholder, and expects to boost the holding to 10 percent over time, ...

Bloomberg The United Arab Emirates called for de-escalation and a political solution to the tensions gripping the Gulf region after US President Donald Trump abruptly called off a plan for airstrikes against Iran. “Tensions in the Gulf can only be addressed politically,” the UAE’s minister of state for foreign affairs, Anwar Gargash, said on Twitter on Sunday. Tensions are boiling ...