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

Another day, another negative headline about Deutsche Bank AG. First came the warning that the battered German lender is being evicted from the index of the top 50 stocks in the euro zone. Then came the another news that China’s HNA Group Co., one of the bank’s top shareholders, is selling its entire stake. The shares fell as much as ...

State technological, geopolitical and social objectives are the driving force behind what could be China’s biggest-ever telecom merger. Shareholders celebrating the deal might do well to remember that. Shares of China Unicom (Hong Kong) Ltd. and China Telecom Corp. surged after Bloomberg News reported that top leaders were reviewing a proposal to merge their state-controlled parents. The Hong Kong-traded units ...

The stock market is a weighing machine of companies’ potential rather than their current circumstances. That is doubly true for Amazon. Amazon.com Inc. has briefly reached a stock market value of $1 trillion. It’s a meaningless (and unoriginal) milestone but a notable symbol for a company that until recently hardly looked like a world-shaking giant. Amazon’s market cap is six ...

Europe’s national regulators are discovering the limits of their ability to police cross-border money laundering in a complex and globalized financial system that’s full of holes. As incomplete and imperfect as the region’s banking union may be, more supranational oversight and co-operation would help. The severity and complexity of corruption probes hitting supposedly humdrum, diversified consumer-and-business banks should be a ...

You have to make your own luck, allegedly, but it really helps when stuff just goes your way. And it really really helps if you can somehow combine favourable vagaries with a little fortune-engineering of your own. Such alchemy is practiced in the c-suites of an industry with a Vegas-like affinity for the lucky: oil. Intuitively, bosses get paid well ...

Bloomberg Mario Draghi will only just manage to raise the European Central Bank’s interest rates before his term as president ends in October 2019 amid continued risks from US tariffs and Italian politics, according to a Bloomberg survey of economists. With asset purchases about to conclude in December, most respondents predict euro zone policy makers will increase the deposit rate ...

Bloomberg Masayoshi Son is asking Wall Street banks to open their pocketbooks if they want in on what could be the biggest-ever initial public offering, according to people familiar with the matter. SoftBank Group Corp. has told potential underwriters seeking a large role in the blockbuster IPO of its Japanese wireless unit that they should offer to lend to other ...

Bloomberg Next month, the euro zone will get its eighth global systemically important bank, Nordea Bank AB. Its management is now asking authorities in the bloc to consolidate anti-money laundering defenses after a spate of scandals rocked confidence in the finance industry and its regulators. Julie Galbo, chief risk officer at Nordea and a former regulator at the Danish Financial ...

Bloomberg China’s banking regulator is handing out fines at a record pace, as it battles a build-up of financial risk. The China Banking and Insurance Regulatory Commission, along with its predecessor agency, has issued fines worth about $585 million since Chairman Guo Shuqing took charge of the watchdog in early 2017, compared with a total of some 1 billion yuan ...

Bloomberg Wells Fargo & Co. is facing a Department of Justice (DOJ) investigation into whether employees in the company’s wholesale-banking business improperly altered customer data, a person familiar with the matter said. The changes were made to meet a regulatory deadline, the Wall Street Journal reported earlier Thursday. “This particular situation involved a new process and a new required document ...