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

  AFP Internet entrepreneur Kim Dotcom was on Tuesday granted his wish to live-stream his bid to avoid extradition to the United States where he is wanted on online piracy charges. Attempts by the United States to block the live-streaming request were rejected by Judge Murray Gilbert in the Auckland High Court. Lawyers for the US argued live-streaming could pollute ...

  Bloomberg Banco Santander SA, Spain’s biggest bank, hired Morgan Stanley as an adviser to help it buy Citigroup Inc.’s retail assets in Brazil for $350 million to $450 million, according to three people with knowledge of the matter. Santander, whose Brazil unit generates about 19 percent of the Madrid-based company’s revenue, also is working with Credit Suisse Group AG, ...

  Bloomberg Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, reported the first decline in its bad-loan ratio since 2012 in the second quarter, while eking out 1 percent profit growth. ICBC’s non-performing loans fell 4 percent to 196.3 billion yuan ($29.4 billion) at the end of June from three months earlier, according an earnings ...

Bloomberg Former Barclays Plc trader Christopher Ashton, a member of “The Cartel” chat room where bank traders allegedly manipulated foreign-exchange rates, is being fined $1.2 million by the Federal Reserve and permanently banned from U.S. banking. Ashton, previously global head of the FX spot business at Barclays in London, was accused of using electronic chat rooms to manipulate currency pricing ...

  Bloomberg Poland is joining the queue of countries aiming to lure financial-services jobs from London as banks look to ensure unfettered access to the European Union’s single market after Britain leaves the bloc. Deputy Prime Minister Mateusz Morawiecki is traveling to London this week and says he’ll meet “dozens” of banks, hedge funds and investment managers to present Poland ...

  Emirates Business Bank of Nova Scotia, Canada’s third-largest lender by assets, said quarterly profit rose 6.1 percent, led by higher earnings in domestic and international operations. The bank raised its dividend 2.8 percent to 74 cents a share. Net income for the fiscal third quarter ended July 31 rose to C$1.96 billion ($1.5 billion), or C$1.54 a share, from ...

  Bloomberg Aviva Plc hired Chetan Singh, a managing director at JPMorgan Chase & Co., to head its mergers and acquisitions globally as the British insurer scouts for deals outside its home market. Singh, who led dealmaking for financial institutions in Southeast Asia at JPMorgan, will join Aviva as chief M&A officer on Sept. 26 and report to Chief Financial ...

  Bloomberg Central banks — holders of about 32,900 metric tons of bullion — cut their purchases by 40 percent during the three months through June, compared with the same period a year earlier, to the lowest since 2011, World Gold Council figures compiled by Bloomberg show. It was the third-straight quarterly drop, the longest such streak in at least ...

  Bloomberg Apple Inc. was ordered to repay a record 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker’s tax bill. The world’s richest company benefited from a “selective tax treatment” in Ireland that gave it a “significant advantage over other businesses,” the European Union regulator said on Tuesday in its ...

  Dubai / Emirates Business JetSmarter, the world’s leading private jet company announces the launch of new and exciting promotion during the month of September for non-members exclusively in Kuwait. The leading private jet company is offering complimentary* seats on one-way private-jet flights from Kuwait to Dubai that are scheduled to fly on September 1, September 15 and September 29. ...