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Reuters Gulf stock markets were mixed despite strong oil prices on Tuesday while Saudi Arabia’s insurance sector continued to recover from last week’s losses. The main Saudi index inched up 0.2 percent. In the insurance sector, which sank last week on expectations for a shakeout in the sector caused by tougher regulation, Malath Insurance surged 9.9 percent after the trading ...

Bloomberg China’s banks are still bingeing on short-term financing, defying analyst predictions that they would wean themselves off such debt as regulators intensify a crackdown on leverage. Sales of negotiable certificates of deposit — a key funding source for medium and smaller banks — surged 49 percent from a year ago in the third quarter to a record 5.4 trillion ...

Bloomberg Thailand rejected claims that it engages in unfair currency practices to gain a trade advantage, even as the nation appears close to meeting US criteria on exchange-rate manipulation. In fact, the central bank faces criticism for doing too little to curb gains in the baht, the strongest performer in Asia this year, according to Commerce Minister Apiradi Tantraporn. Countries ...

Bloomberg Credit Suisse Group AG, Switzerland’s second-largest bank, is being targeted by a little-known local activist investor who says he wants to break up the lender into three parts. Rudolf Bohli, who manages 250 million francs ($256 million) at RBR Capital Advisors, has taken a 0.2 percent stake in Credit Suisse, worth about 100 million francs, according to a person ...

Bloomberg The Reserve Bank of Australia (RBA) says economic conditions at home and abroad ‘had been more positive since 2016,’ according to minutes of this month’s policy meeting where interest rates were left unchanged. National accounts indicated private non-mining business investment increased in the June quarter to be almost 10% higher than at the start of 2016. Public consumption had ...

Bloomberg HSBC Holdings Plc’s former head of currency trading in London made at least $500,000 in commissions by front-running a multi-billion-dollar deal that betrayed the bank’s duty to its client, according to US prosecutors. The allegations, made in court documents handed out at the start of a two-day hearing, form part of the US government’s petition to extradite Stuart Scott ...

Bloomberg Some Qatari banks are becoming less willing to sell dollars to foreign lenders amid a lingering regional standoff with a Saudi-led alliance, according to people familiar with the matter. Foreign exchange activity between local and international banks is almost at a standstill, the people said, asking not to be identified because the matter is private. The central bank is ...

Bloomberg Airbus SE’s agreement to buy a majority stake in Bombardier Inc.’s C Series passenger jet programme not only injects critical financial support and expertise into the project, but also puts China’s aircraft-selling ambitions to the test. Potential buyers of the C Series aircraft have the comfort that Airbus, with its global presence, will provide support for the jet anywhere, ...

Bloomberg Toys “R” Us Inc., the retailer that filed for bankruptcy in North America, has been exploring options for its growing Asian business including a potential initial public offering, people with knowledge of the matter said. The US chain and its local joint venture partner, the billionaire Fung brothers, have been speaking with investment banks to study the feasibility of ...

Bloomberg Alphabet Inc.’s Project Wing is taking the next step to deliver items to people’s homes via drone, beginning a demonstration project this week in Australia with a Mexican food chain and a pharmacy company. Small drones will begin delivering actual purchases to backyards in rural areas, James Ryan Burgess, co-lead of Project Wing, said in a blog post. Alphabet’s ...