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

Bloomberg President Donald Trump called on the Federal Reserve to “match” what he said China would do to offset economic hardship being caused by tariffs as he sought to draft the US central bank into his simmering trade war. “China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for ...

Bloomberg Federal Reserve officials are sticking with their pledge for patience on interest rates, shrugging off President Donald Trump’s escalating trade war and his pressure for a cut. New York Fed President John Williams and his Kansas City colleague Esther George, who vote on policy this year, acknowledged that new tariffs on Chinese imports could affect the outlook for US ...

Bloomberg ING Groep NV and UniCredit SpA are lining up advisers to explore a potential takeover of Commerzbank AG after the German lender’s talks with Deutsche Bank AG broke down last month, according to people familiar with the matter. The Dutch bank is working informally with boutique investment bank Perella Weinberg Partners, while the Italian lender is working with JPMorgan ...

Bloomberg The finance minister of Sweden wants her country’s central bank to take more factors into account than just inflation, when setting monetary policy. In Stockholm, Magdalena Andersson spoke in favour of having more explicit growth and employment targets for the Riksbank. They should be “clearer” goals in monetary policy, she said. Sweden’s central bank has been targeting inflation since ...

Bloomberg Credit Agricole SA posted bigger-than-expected declines in profit and revenue in the first quarter as weakness at its key Italian business overshadowed resilient trading income. Underlying revenue in Italy, Credit Agricole’s second-biggest retail market, declined 3.9% as volatile markets weighed on fees. Chief Executive Officer Philippe Brassac has targeted consumer banking in the country as an area of growth ...

Bloomberg United Overseas Bank (UOB) plans to increase portion of revenue it gets from outside its ho-me market of Singapore to about 50% by 2021, despite forecasting a challenging year ahead. “For 2019, market volatility is expected to remain,” Chief Executive Officer Wee Ee Cheong told analysts and investors in Singapore on Wednesday. “Geopolitics, rising global trade tensions and concern ...

Bloomberg Walmart Inc wants to one-up Amazon.com Inc in the fight for online shoppers. The world’s largest retailer is rolling out a next-day delivery service to counter Amazon’s recent move to speed shipment times for top customers to just one day from two. Walmart customers in Phoenix and Las Vegas who buy at least $35 worth of goods was expected ...

Bloomberg Two top executives of Jet Airways India Ltd resigned this week, further diminishing prospects for the grounded carrier that is desperately seeking $1.2 billion to fly again. Chief Executive Officer Vinay Dube and Chief Financial Officer Amit Agarwal quit the company citing personal reasons, Jet Airways said in two separate stock exchange filings. While both resignations were effective immediately, ...

Bloomberg Tour operator TUI AG held to its forecast while warning that it’s battling overcapacity this summer in the Spanish vacation market, as a deadline looms for its grounded fleet of Boeing Co 737 Max jets. The Hanover, Germany-based company reiterated its expectation for a 2019 drop of 17 percent in underlying earnings before interest and taxes. But expenses related ...

Bloomberg Boeing Co has started storing 737 Max jets at a vast Texas maintenance base as the planemaker continues to churn out the single-aisle aircraft while waiting for regulators to lift a global grounding. Planespotter Chris Edwards picked up the radar track of the first factory-fresh Max to be parked outside the Seattle area as it headed to San Antonio ...