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

Bloomberg Wells Fargo & Co. is no longer releasing the customer account figures it started disclosing after a scandal in September erupted over employees creating fake accounts to reach sales goals. Wells Fargo had been reporting 19 measures of client activity monthly, including the number of retail bank customers opening and closing checking accounts or applying for credit cards. Just ...

Bloomberg Banco Santander SA, Spain’s biggest lender, bought minority stakes in three financial-technology firms as Chairman Ana Botin makes machine learning a hallmark of her growth plan. Santander InnoVentures is investing in Pixoneye and Curve, both based in the U.K., and Gridspace, located in the U.S., according to a statement. Terms weren’t disclosed. The acquisitions bring the number of fintech ...

Bloomberg Barclays Plc is in talks with Irish regulators to expand operations in Dublin as it activates plans to preserve access to European Union markets, as Brexit negotiations drag on with no financial-services deal in sight. CEOr Jes Staley and Helen Keelan, chairman of Barclays Bank Ireland, met country’s PM Leo Varadkar in Dublin. Barclays said that while it ‘remains ...

Bloomberg As Sweden weighs the pros and cons of joining Europe’s banking union, the Nordic country says Italy’s decision to involve taxpayers isn’t encouraging. After months of deliberations, Italy said in June it will tap state coffers to pay for the wind-down of Banca Popolare di Vicenza SpA and Veneto Banca SpA. Italy is also using a provision in Europe’s ...

Bloomberg Sprint Corp. Chairman Masayoshi Son held talks with billionaires Warren Buffett and John Malone about investing in the wireless company, according to a person familiar with the matter. Buffett is considering an infusion of $10 billion to $20 billion, while Malone would put in additional funding, said the person, who asked not to be identified discussing private information. Part ...

Saudi Arabia / Emirates Business Integrated travel services provider, Holidayme.com, is consolidating its presence in the Kingdom of Saudi Arabia (KSA) as its next growth market following the Arab nation’s rapidly growing tourism sector, which has primarily been driven by rising tourist numbers in the last few years. Holidayme, which began its operation in the Middle East in 2014, plans ...

Dubai / Emirates Business Samsung Gulf Electronics announced the availability of the new Galaxy J Pro series in the UAE. The Galaxy J5 Pro and Galaxy J7 Pro are currently available in the market. The new lineup of Galaxy J Series offers high performance in a stunning metal body design with enhanced camera technology, all at an ultra-accessible price point. ...

Bloomberg Shares of Delta Air Lines Inc. may have reached their cruising altitude for now. The Atlanta-based carrier got investors excited last week when it said revenue from each seat flown a mile jumped 2.5 percent, another big boost following May’s 3.5 percent increase. The stock had soared 22 percent since the beginning of May. But second-quarter results show that ...

Dubai / Emirates Business Air Seychelles, the national airline of the Republic of Seychelles introduced SITA’s state-of-the-art common-use passenger processing systems (CUPPS) at Seychelles International Airport. This investment provides greater flexibility for international airlines operating from the airport by allowing them to share common-use terminal equipment for check-in and boarding. The airline – which provides ground-handling services to airlines operating ...

DUBAI / Emirates Business The market revenue for materials handling equipment in the GCC, which was worth $3.78 billion in 2014, is set to maintain a CAGR of over 4 percent while reaching an estimated $4.8 billion to 5 billion in revenues by 2020. Saudi Arabia, with about 46% and the UAE with 35%, make up the largest markets in ...