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

Bloomberg Denmark is trying to find out just how many banks were involved in suspicious stock trades executed for the sole purpose of getting a tax rebate. The transactions in question started more than a decade ago, after Denmark and Switzerland made it possible to claim back taxes on dividends through a revised double-taxation accord between the two countries. Nordea ...

Bloomberg Bankers and borrowers are bracing themselves for a difficult year selling eurobonds now that the days of easy money are coming to an end. January’s often the busiest month of the year for new bond sales but as credit markets lose their biggest backer and political threats loom — Brexit, Italian fiscal angst and trade woes — companies must ...

Bloomberg Standard Chartered Plc reached an agreement to separate its private-equity unit, ending more than two years of effort by Chief Executive Officer Bill Winters to get out of the business. Intermediate Capital Group Plc said on Monday that its funds are buying a majority of the bank’s private-equity assets in a transaction valued at about 790 million pounds ($997 ...

Bloomberg Europe’s retail crisis is spreading from bricks-and-mortar stores to e-commerce as Asos Plc plunged the most in 4 1/2 years after warning that Christmas shopping got off to a disastrous start. The gloomy update from a UK online retailer that competes with Amazon.com Inc. and has furnished fashions to the likes of Meghan Markle shows that retail weakness is ...

Bloomberg In 2014, when Instacart Inc. was a younger grocery-delivery startup, Whole Foods was its first major relationship—Instacart’s debut national retail partner and an investor as well. A lot has changed since then. Amazon.com Inc. now owns Whole Foods and runs its own delivery service. So the startup and grocery chain are splitting up for good. Instacart said it will ...

Bloomberg Hennes & Mauritz AB reported its fastest quarterly sales growth in three years, though analysts said the big question is how much the struggling Swedish retailer cut prices on clothes to clear excess inventory. The shares fell in Stockholm trading. Revenue rose 12 percent to 56.4 billion kronor ($6.2 billion) in the three months through November, according to a ...

Bloomberg The crash of a Boeing Co. plane that killed 189 people in Indonesia is spiralling into a $22 billion feud between the aircraft maker and one of Asia’s most influential aviation bosses. In a rare public dispute between the planemaker and one of its biggest customers, the head of PT Lion Mentari Airlines has threatened to cancel an order ...

ABU DHABI / WAM Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (Senaat), has finalised a significant $400 million loan refinancing deal that will enable the company to accelerate deleveraging, increase financial flexib- ility, simplify its debt structure and fund its growth plans. The new financing replaces Emirates Ste-el’s outstanding ...

ABU DHABI / WAM The UAE has accomplished significant achievements during its transition to a digital economy over the past five years. These accomplishments have helped to reinforce the competitiveness of the UAE’s national economy, according to indexes published by international organisations, including World Economic Forum, which ranked the UAE as the leading Arab and regional e-commerce centre in 2017. ...

ABU DHABI / WAM Abu Dhabi General Services Company, Musanada, revealed that work is progressing as planned in line with the agreed schedule in eight new building projects for Abu Dhabi Police General Headquarters totalling AED474 million. The projects include construction of the Civil Defence Centre at Al Falah region, three police stations at Al Falah, Al Saadiyat and Al ...