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

  Since becoming president of the European Central Bank, Mario Draghi has rarely looked as relaxed as he did in Thursday’s press conference. It’s not hard to see why: The euro-zone economy is gathering speed, confidence is soaring, and unemployment is tumbling. The recovery is also spreading across the region, reducing the risk that some countries may need a different ...

  Microsoft Chief Executive Officer Satya Nadella isn’t one for straightforward communications. On Thursday night, when analysts plied him with politely worded questions about the change in Microsoft’s business model, they were treated to classic bits of cryptic wisdom such as this one. To me, that’s why Azure is pretty strategic for us, not just for the attachment of high-level ...

  Bloomberg Goldman Sachs Group Inc. plans to start moving London-based staff and operations to new or expanded offices inside the European Union next year, as it prepares for the UK to lose easy access to the single market after Brexit, the firm’s co-head of investment banking said. The bank will relocate client-facing staff to various EU cities including Madrid, ...

  Bloomberg Deutsche Bank AG hired Citigroup Inc. Treasurer James von Moltke to replace Marcus Schenck as chief financial officer, completing a management shakeup that’s been key to the latest turnaround plan. Von Moltke will start in July, Deutsche Bank said in a statement, confirming a report by Bloomberg earlier on Friday. Germany’s biggest bank in March promoted Schenck to ...

  Bloomberg The Nordic region’s best-performing bank said first-quarter profit jumped 12 percent, a better result than analysts had expected, as income from trading grew. Danske Bank A/S reported net income of 5.53 billion kroner ($808 million) for the period, compared with a 4.52 billion-krone estimate in a survey of analysts compiled by Bloomberg. Net interest income rose 9 percent, ...

  BEIRUT / Reuters Lebanon’s Blom Bank reported a 3.5 percent year-on-year rise in first-quarter net profit, it said in a statement on Saturday. Net profit for the three months to the end of March was $112.03 million, it said. The bank had reported a $108.23 million net profit for the same period a year ago. It is Lebanon’s second-largest ...

  Bloomberg Boeing Co.’s allegations that Bombardier Inc. sold C Series passenger jets at unfairly low prices are ‘absurd,’ the Canadian planemaker said, raising the volume in an increasingly noisy relationship between the US and Canada. Boeing’s contention that Delta Air Lines Inc. purchased jets for $19.6 million apiece, ‘is plain wrong,’ Bombardier spokesman Bryan Tucker said in an interview. ...

  DUBAI / Reuters Malaysia Airlines is close to launching a new airline that will use its six Airbus A380s to fly passengers undertaking the Muslim pilgrimages of Haj and Umrah, Chief Executive Peter Bellew said. Bellew said that all the key personnel, apart from a chief executive, have been appointed and are likely to be announced in the next ...

  Dubai / Emirates Business Qatar Airways invites passengers to start planning their next trip with amazing discounts on flights across all cabin classes. With the airline’s ‘Global Sales Campaign’, which lasts until May 3, families, friends and couples can book flights to any destination across the airline’s award- winning network of more than 150 destinations across the globe, with ...

  Bloomberg French retail giants Carrefour SA and Casino Guichard-Perrachon SA have spent years battling for dominance on their home turf. Their new big battleground is almost 10,000 kilometers away. Brazil, Latin America’s largest economy, has become a key factor in propping up Carrefour’s earnings in recent years amid disappointing growth in France. The grocer’s quarterly same-store revenue in Brazil ...