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

  Bloomberg Deutsche Bank AG may be forced to shrink its US activities as part of a deal to settle litigation over residential mortgage-backed securities with the Department of Justice, German newspaper Welt am Sonntag reported, citing an unidentified person familiar with the discussions. Radical changes to the business model are typical requirements in settlement arrangements with the U.S. government, ...

  Bloomberg Indians, the world’s second-biggest Internet users, were told to expect a decision allowing them to update their Facebook status and send WhatsApp messages from 35,000 feet as early as September. Instead, they’ve been kept in a holding pattern because of security concerns. Delays gaining regulatory approval for Wi-Fi in Indian airspace aren’t dissuading satellite operator Inmarsat Plc, which ...

  Bloomberg Delta Air Lines Inc. will keep a lid on growth next year as it seeks to shore up persistently weak fares. The Atlanta-based carrier plans to expand seats and flights only 1 percent in 2017, less than half this year’s pace through September. As demand catches up with slower supply growth, fares should rebound and passenger revenue for ...

  Bloomberg Avolon Holdings Ltd., the plane-leasing business of China’s acquisitive HNA Group, is focused on integrating CIT Group Inc.’s aircraft assets following the $10 billion takeover and will consider more purchases only after 2017, Chief Executive Officer Domhnal Slattery said. The acquisition, announced last week, expands Avolon’s lineup to 910 aircraft including planes on order and propels it to ...

  Bloomberg Airline passengers who try to carry Samsung Electronics Co. Note 7 smartphones on flights will have them confiscated and may face fines under an emergency U.S. order that significantly expands restrictions on the devices linked to almost 100 incidents of overheating and fires. The devices won’t be allowed aboard passenger or cargo aircraft even if they’ve been shut ...

  Lausanne / AFP Pessimistic envoys from the United States, Russia and Syria’s neighbours met on Saturday in Switzerland as Secretary of State John Kerry tried to revive hopes of a ceasefire for the war-torn country. The talks marked Kerry’s first encounter with his Russian opposite number Sergei Lavrov since a US and Russian-sponsored truce collapsed last month amid a ferocious ...

  Lucknow/ AFP A stampede at a religious gathering in northern India killed 19 people on Saturday as thousands of devotees of a controversial guru tried to cross a bridge at once, police said. The followers of Jai Gurudev, a leader of a local religious sect, had gathered in Varanasi, a Hindu holy town in Uttar Pradesh state, when the deadly ...

  Baghdad / AFP A suicide bomber attacked a Shiite-majority area of north Baghdad on Saturday, killing at least 32 people and wounding more than two dozen, security and medical officials said. The bomber struck in the Shaab area of the Iraqi capital, targeting either a funeral tent or one at which Shiite Muslims distribute food and drinks on the occasion ...

  Tripoli / AFP Libya’s UN-backed unity government suffered a blow in its Tripoli base when a rival seized key offices in the capital and proclaimed the reinstatement of the former administration. The Government of National Accord (GNA) is the centrepiece of Western hopes to stem an upsurge of extremism in the North African nation and halt people trafficking across ...

  Istanbul / AFP Turkey has angrily reacted to the cancellation of a panel in Sweden about the failed July coup attempt seeking to oust the government from power, calling it a “blow” to the freedom of expression. The panel “July 15th—Behind the Scene of the Bloody Coup” had been planned to take place in Stockholm. The office of the ...