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

Bloomberg Credit Suisse Group AG is moving 50 investment banking jobs to Madrid as part of its Brexit planning, according to two people familiar with the matter. The Swiss lender is relocating bankers at its Global Markets trading division and dealmakers from its advisory unit, the people said, asking not to be identified because the decision is private. The firm ...

Bloomberg The Bank of Japan (BOJ) offered to buy an unlimited amount of bonds for a third time in a week after the benchmark 10-year yield rose to an almost 18-month high ahead of the central bank’s policy decision on Tuesday. The offer, made at 0.1 percent for the five-to-10 year maturities, drew some 1.6 trillion yen ($14.4 billion) of ...

Bloomberg Bank of America (BofA) is recruiting to potentially double the size of its specialist sales staff in the US and Europe, according to two people familiar with the efforts. The bank is looking to add four to six positions — which help clients act on the firm’s research ideas — in addition to the six specialist salespeople it already ...

Bloomberg People charged with running or monitoring the world economy are set for a busy week before those in the Northern Hemisphere get to enjoy their summer vacations. Central bankers in the US, Japan, the UK, Brazil and India all meet to set their respective monetary policies at a time when Eric Oynoyan, senior European interest-rate strategist at BNP Paribas ...

Bloomberg VietJet Aviation JSC, the Vietnamese carrier that handed Boeing Co. a $12.7 billion aircraft order this month, said second-quarter profit jumped after more people flew its international flights. Second-quarter pretax profit rose 44 percent from a year earlier to $41 million, said Nguyen Thi Phuong Thao, VietJet’s founder and chief executive officer. Revenue gained 52 percent to 8.6 trillion ...

Bloomberg Thomas Cook Group Plc shares rose the most in more than two months after the UK tour operator confirmed it’s open to a possible deal for its airline business. “While we are open to consolidation where it makes sense for our business, we have no current plans to sell our airline,” Thomas Cook spokesman Johannes Winter said by e-mail ...

Bloomberg Malaysia Airlines Flight 370, missing since 2014, was probably steered off course deliberately and flown to the southern Indian Ocean, according to the Malaysian government’s safety report into the disaster. MH370 vanished on March 8, 2014, en route to Beijing from Kuala Lumpur with 239 people on board. Investigators have never been able to explain why the jet abandoned ...

Bloomberg American Airlines Group Inc. is ending the carry-on bag fee for customers of its “basic economy” discount fare, caving in to pressure from competitors’ more generous policies. The change, which applies to domestic and short-haul international flights, takes effect from September 5, Fort Worth, Texas-based American said as it announced second-quarter financial results. “It got to the point we ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister for Tolerance, said that the UAE, since its establishment by the late Sheikh Zayed bin Sultan Al Nahyan, presented leading models of friendship and community harmony to the world, with its various residents of many races, religions and cultures. He made his statement on the occasion of the annual ...

ABU DHABI / WAM Around AED1 billion worth of wages was transferred through UAE Wages Protection System (WPS) during the period from 2013 through 2017. According to CBUAE statistics, salaries transferred thro-ugh WPS has been on a rise over past five years, increasing from AED147 million in 2013 to AED170.6 million in 2014. In 2015, AED196 million worth of salaries ...