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

Bloomberg China’s financial regulators proposed sweeping rules to curb risks in the country’s $15 trillion of asset-management products as leaders move to tighten supervision and break an implicit guarantee that’s driven investment into such vehicles. Financial institutions should offer yields based on the net asset value of the products they issue, to reflect the risks and return of the underlying ...

Bloomberg A former HSBC Holdings Plc banker filed a lawsuit after being told he couldn’t have his bonus because he helped clients cheat on their taxes. The bank responded by counter-suing him for wasting its time. Rajesh Parmar is suing HSBC Private Bank UK for more than 1.8 million pounds ($2.4 million) in unpaid bonuses and damages, accusing it of ...

Bloomberg Lloyds Banking Group Plc is in exclusive talks to sell and lease back its City of London headquarters to a company linked to China’s Hengli Group, two people with knowledge of the deal said. The Chinese conglomerate offered about 150 million pounds ($198 million) for the 25 Gresham Street building, the people said, asking not to be identified because ...

Bloomberg About a third of the customers queuing at La Maison du Bitcoin’s teller windows in Paris aren’t speculating on the value of the cryptocurrency. They’re sending digital money home to Africa. “In many countries in Africa, there are far more cellphones than bank accounts,” said Manuel Valente, co-founder of La Maison. “For bitcoin, all you need is a phone.” ...

Bloomberg At 80 years old, the self-proclaimed father of the ultra-discount airline model is still swinging for the fences, stealing the spotlight at this year’s Dubai Airshow with the biggest order ever placed for Airbus SE commercial aircraft. William Augustus Franke, co-founder and managing partner of private equity firm Indigo Partners, joined Airbus in announcing the deal for 430 aircraft, ...

Bloomberg Gap Inc. and Ross Stores Inc. are showing that growth is possible for apparel retailers. You just have to offer cut-rate prices. Both apparel companies saw their shares spike after posting comparable sales that exceeded analyst estimates. Gap relied on its budget-minded Old Navy chain for growth. Ross, meanwhile, used its off-price strategy to outperform expectations despite the hurricanes ...

Bloomberg Senate Republicans say their tax bill will bring big tax cuts for middle-class families and businesses. It’ll also make sure that owners of private jets don’t get hit with the same taxes that commercial carriers face. The revised bill that emerged from the Senate Finance Committee has a provision that scraps excise taxes on management services for private aircraft. ...

Bloomberg Airbus SE might yet win a long-anticipated A380 superjumbo order from Gulf carrier Emirates before the end of the year, but must pledge to extend the ailing programme for a further decade in order to secure the deal. The European planemaker had planned to announce the sale at the recently concluded Dubai Airshow, Chief Operating Officer Fabrice Bregier confirmed ...

ABU DHABI / Emirates Business Agriscape 2017, the first international exhibition on agricultural investments abroad, wrapped up a highly successful inaugural edition at Rosewood Abu Dhabi, facilitating business deals worth over AED4 billion during its two-day run. Held under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, the event drew ...

Dubai / WAM Trade between Jafza and France grew $1.5billion in 2016 up from $1.3billion that was recorded in the previous year. There are more than 130 French companies operating from Jafza, ranging from healthcare, equipment, oil & gas, cars and transportation. Almost one-third of UAE trade with France involves companies operating in Jafza, a subsidiary of global trade enabler ...