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

  Bloomberg Russia’s central bank, on the prowl for mismanaged lenders as part of an unprecedented three-year cleanup, is picking up right where it left off. The regulator revoked the licenses of two lenders, including the nation’s 42nd-biggest, Tatfondbank PJSC, after efforts to save them collapsed amid evidence of fraud. The affiliated banks are based in Tatarstan, an oil-rich and ...

  Bloomberg A timeline for the end of European Central Bank stimulus is taking shape among economists. Policy makers will wait until at least June before upgrading their assessment of the risks to the euro-area recovery and won’t announce another reduction in bond purchases until September, according to most respondents in a Bloomberg survey. Tapering quantitative easing and starting to ...

  Bloomberg UK banks trying to keep access to European Union (EU) markets after Brexit will have to set up full-scale operations in the bloc, European Central Bank (ECB) Executive Board member Sabine Lautenschlaeger said. “I do not see the ECB issuing banking licenses to empty shell companies,” she said in a speech at the London School of Economics. “I ...

  Rise of the machines! Attack of the clones! This is a common outcry from the financial industry and investors alike in reaction to the rapid rise of ‘passive’ index funds and exchange-traded funds, which now have about $5 trillion in assets in the United States. Investors have an understandable tendency to see passive investing as a bunch of robotic ...

  This must be “copy your competitor” week for corporations. McDonald’s Corp., at its annual investor day, unveiled plans to roll out mobile ordering and delivery to all its US locations. In a bid to win over lapsed customers, it’s embracing the same digital tools Starbucks Corp. and Domino’s Pizza Inc. have used to grow sales. Recently I warned Target ...

  On March 29, Samsung Electronics Co. will unveil its new Galaxy S8 phone. When you release a new product, you want to show off its cool new features. But Samsung’s launch stands to be overshadowed by not one but two reputational fires the company is fighting simultaneously. And “fire” isn’t just a metaphor: One of the company’s problems is ...

  Emirates Business Mall of Egypt is Majid Al Futtaim’s flagship project in North Africa and a pillar of the company’s AED 5.1 billion investment strategy in Egypt. With the unveiling of the country’s first super-regional mall, Majid Al Futtaim is bringing its world-renowned leisure and entertainment brand portfolio that includes Ski Egypt, which brings snow for the first time ...

  AP Air India says it has set a world record by flying around the world with an all-female crew. Press Trust of India reported that the flight flew over the Pacific Ocean from New Delhi to San Francisco on Monday, and then flew back to New Delhi over the Atlantic on Friday. Apart from the all-female cockpit and cabin ...

  Emirates Business Celebrating the steadfast love of mothers everywhere, Pure Gold Jewellers has launched stylish special edition diamond pendants for Mother’s Day. One of the designs is an open heart shaped gold and diamond pendant with the word ‘Mom’ inscribed in the centre of the heart. This 18 karat pendant has an array of diamonds around the outer layer ...

  Bloomberg A former close political ally of New Jersey Governor Chris Christie urged a judge to spare him prison for pleading guilty to pressuring United Airlines to fly a money-losing route convenient to his family’s weekend home. David Samson, once chairman of the Port Authority of New York and New Jersey, faces as many as two years in prison ...