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

  Bloomberg Singapore Airlines Ltd. said it will be vigilant on costs as it warned yet again that the weak operating outlook is likely to persist amid excess capacity and aggressive pricing by competitors. The prospects for most major economies remain ‘tepid,’ while passenger airline business continued to be impacted by geopolitical uncertainty and weak global economic conditions, Singapore Air ...

  Bloomberg EasyJet Plc directors are in early-stage talks about relaxing executive bonus targets in order to hang on to Chief Executive Officer Carolyn McCall and other top managers as a capacity glut and the Brexit vote put the U.K. carrier’s earnings under pressure, people familiar with the plans said. The EasyJet board wants to make pay goals more achievable ...

  Dubai / Emirates Business Musafir.com, the UAE’s first premium-experience travel website, announced the launch of the online visa application service. Tourist visas to the UAE and 14 other destinations can now be directly applied on musafir.com and have their travel documentation processed and completed with no hassle. They are the first travel provider in the GCC region to introduce ...

  Bloomberg China International Capital Corp., the bank that has brought some of the country’s biggest state-owned firms to market, agreed to buy China Investment Securities Co. to gain a foothold in the retail-brokerage business. CICC, known as the Goldman Sachs of China, will acquire the brokerage from Central Huijin Investment Ltd. for 16.7 billion yuan ($2.5 billion), the Beijing-based ...

  Bloomberg China’s third-largest lender tried to obscure the trail of dollar transactions by Russian, Chinese and Middle Eastern clients and attempted to silence a compliance officer who raised alarms about it, according to New York’s banking regulator. State-controlled Agricultural Bank of China was ordered to pay a $215 million penalty and install an independent monitor for 18 months to ...

  Bloomberg ING Group NV, the largest Dutch lender, climbed the most in three months in Amsterdam trading after third-quarter profit beat estimates. ING jumped as much as 4.2 percent in Amsterdam trading, the biggest gain since Aug. 3, and was priced at 12.02 euros as of 9:44 a.m. Net income rose 22 percent in the quarter as investment gains ...

  Paris/ AFP French bank Societe Generale served investors a pleasant surprise with third-quarter results, sending its shares soaring. Although falling by 2.4 percent to 1.1 billion euros ($1.2 billion), net profit still came in well above analysts’ forecasts of 888 million euros according to Factset, a data provider. Shares in Societe Generale, France’s third largest bank after BNP Paribas ...

  Bloomberg Deutsche Bank AG plans to move some workers from a City of London office building to the Canary Wharf district and sublease the excess space, according to two people familiar with the plan. The lender will shift at least half of the back-office staff from the Appold Street property to the Docklands office by the end of this ...

  Bloomberg Commerzbank AG said it expects to post a full-year profit after costs tied to Chief Executive Officer Martin Zielke’s overhaul pushed Germany’s second-largest lender into a third-quarter loss. The net loss of 288 million euros ($319 million) compares with a profit of 235 million euros a year earlier, the Frankfurt-based company said in a statement on Friday. Analysts ...

  Bloomberg Egypt’s prime minister tried to reassure an anxious public as Egyptians expressed alarm and anger over prices that swiftly soared a day after the nation’s currency was floated, sending its value tumbling as fuel subsidies were cut. In the capital’s working class district of Imbaba, residents spoke of a sudden spike in transportation and food prices, mainly because ...