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

  Bloomberg South Africa hired Bain & Co. to advise on the strategy and corporate structure of the country’s three loss-making state-run airlines to improve the benefit to the state from owning the carriers. Bain, based in Boston, was awarded the contract as part of a joint venture with a South African company, Abacus Advisory, according to a posting on ...

  DUBAI / Reuters Pakistan International Airlines (PIA) is evaluating an order for wide-body Airbus and Boeing jets as it looks to upgrade its ageing fleet, an executive for the state-owned airline said on Tuesday. “Boeing 777X would be a good option,” the airline’s executive director of human resources and works, Raheel Ahmed, told reporters on the sidelines of an ...

  Bloomberg Deutsche Lufthansa AG canceled 64 flights at its Eurowings division due to a strike by cabin crew as the German carrier braces for more severe disruption on Wednesday when its mainline pilots plan to walk out. On Tuesday, Eurowings flights to and from Dusseldorf and Hamburg were canceled due to strikes called by the flights attendants’ union Ver.di, ...

  Bloomberg About 250 pilots employed by a subsidiary of Air Transport Services Group Inc. went on strike to protest alleged staffing shortages at the cargo carrier, threatening to ground flights for Amazon.com Inc. and DHL Worldwide Express during the busy holiday shopping season. ATSG’s ABX Air operates 35 flights a day for Amazon and 45 daily flights for DHL, ...

  Bloomberg Malayan Banking Bhd. is challenging CIMB Group Holdings Bhd.’s nine-year reign as the top arranger in the world’s largest Islamic bond market. Malaysia’s biggest lender has managed 15.3 billion ringgit ($3.5 billion) of sukuk offerings in the nation in 2016, data compiled by Bloomberg show. It had a 27 percent market share versus 22 percent for CIMB. Maybank ...

  Bloomberg RHB Bank Bhd., Malaysia’s fourth-biggest lender by assets, hired former Standard Chartered Plc banker Goh Ken-Yi to head client coverage in its Singapore securities unit, people with knowledge of the matter said. The banker started working this week at RHB Securities Singapore Pte, according to the people. He was most recently a managing director in charge of commercial ...

  Bloomberg Bank of America Corp. and Bain Capital’s credit investment arm are considering bids for about 1 billion euros ($1.06 billion) of non-performing assets from Banco Popular Espanol SA as the Spanish lender accelerates efforts to clean up its balance sheet, according to people with knowledge of the matter. Negotiations are ongoing, and an agreement may be reached in ...

  Bloomberg China’s central bank raised its yuan fixing for the first time in 13 days as the dollar’s ascent eased, reinforcing speculation that policy makers are prepared to step up measures to slow the currency’s declines. The People’s Bank of China strengthened its daily reference rate by 0.3 percent to 6.8779 per dollar, ending a 12-day decline that took ...

  Bloomberg SBM Holdings Ltd., Mauritius’s second-biggest lender, said it’s acquiring Fidelity Commercial Bank Ltd. of Kenya to kick off an expansion in East Africa that will target four more countries. The bank is buying FCB’s entire share capital for 100 shillings and injecting 1.46 billion shillings ($14.3 million) of new capital, Port Louis-based SBM said in a statement on ...

  Bloomberg Mario Draghi may be first among equals in the European Central Bank’s Governing Council, but he certainly isn’t the best paid. The central bank governors of Belgium, Italy and Germany make more than the ECB president’s annual 386,000 euros ($409,400), data compiled by Bloomberg show. Belgium’s Jan Smets took the crown with about 480,000 euros, almost six times ...