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

Bloomberg Toronto-Dominion Bank is seeking to win back customers with home-equity loans — even as concerns grow over elevated consumer debt amid a slowing Canadian economy. A push for a greater market share of home-equity lines of credit, or helocs, is part of this year’s strategy for Teri Currie, group head of Canadian personal banking at the country’s largest lender ...

Bloomberg Hungary’s central bank left its main interest rates unchanged, sticking to a gradual shift towards the end of ultra-loose monetary policy as it assesses the need to curb brewing inflation pressures. Rate setters left the rate on required reserves unchanged at 0.9 percent and the overnight deposit rate at minus 0.15 percent on Tuesday, with both decisions matching economists’ ...

Bloomberg Zimbabwe said it will allow companies and individuals to transfer dollars electronically, as it looks to ease a crippling scarcity of foreign exchange that’s sent the economy into meltdown and triggered protests. The Reserve Bank of Zimbabwe has upgraded its systems to allow for such transactions and will run testing until February 1, after which it plans to go ...

Bloomberg Volatile times are back on the global economic scene with the US appearing to lack clear policy and growth in Europe slowing, the Kenyan central bank governor said. Comments by members of the US government have undermined the Federal Reserve’s role as an anchor of monetary policy, Governor Patrick Njoroge said. Other key concerns include the threat of a ...

Bloomberg Absa Group Ltd Chief Executive Officer Maria Ramos will step down after overseeing the split from Barclays Plc, an alliance blamed for the loss of retail market share at South Africa’s third-largest bank. The stock rallied the most among its Johannesburg-based peers on Tuesday in the wake of her pending exit. Absa, once the nation’s largest mortgage lender, fell ...

Bloomberg Norwegian Air Shuttle ASA gained the backing of Norway’s richest man, providing some stability to the struggling discount carrier as it searches for a new suitor following IAG SA’s decision to abandon its eight-month pursuit. The shares fell the most on record after Norwegian said it had raised 3 billion kroner ($353 million) in a rights issue underwritten by ...

Bloomberg Debt-laden Jet Airways India Ltd. may be poised to get some help in its bid to stay afloat. India’s largest lender State Bank of India is set to swap part of its loans into a stake of at least 15 percent in Jet Airways as lenders to the carrier plan similar conversions of some debt into equity to help ...

Bloomberg Hong Kong retailers are one group of shares being left behind as the city’s benchmark stock index trades near a four-month high. Cosmetics seller Sa Sa International Holdings Ltd and Chow Tai Fook Jewellery Group Ltd are near the lowest levels in at least a year versus the benchmark Hang Seng Index, which has climbed 6.5 percent in 2019. ...

Bloomberg The UK’s biggest supermarket companies have joined forces to warn the government of significant disruption and rising food prices if Britain leaves the Eu without a deal. Retail giants including J Sainsbury Plc, Walmart Inc.’s Asda, Marks & Spencer Group Plc and John Lewis Partnership Plc’s Waitrose have signed a letter from the British Retail Consortium to members of ...

Bloomberg Alibaba Group Holding Ltd. is feeling the heat as China’s economy decelerates. China’s dominant e-commerce company will offer clues to the health of the nation’s middle-class, and how it’s navigating the slowdown, when it unveils earnings on January 30. While revenue is expected to have risen 44 percent during the December quarter, that’s its slowest pace of expansion since ...