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

  Bloomberg Listen at the doors of two major gatherings of the world’s central bankers in Switzerland and Portugal next week, and one might hear little but the sound of forecasts being shredded. The world’s monetary guardians will gather at the Bank for International Settlements’ annual meeting in Basel over the weekend, and at the European Central Bank’s yearly policy ...

  Bloomberg Italian and Spanish lenders were the biggest participants in the European Central Bank’s latest new loan programme, increasing their net borrowings by more than 25 billion euros (US$28 billion). Intesa Sanpaolo SpA said it increased borrowings by about 8 billion euros in the first of four targeted longer-term refinancing operations after paying back loans under a previous program, ...

  Bloomberg Global stocks are plunging. The pound is crashing. Economists and policymakers are predicting a recession in the UK and beyond after Britain’s historic vote to leave the European Union. If the fallout from Brexit gets worse, will the biggest US banks be able to weather the shock? The Federal Reserve has provided reason for optimism that they will. ...

  Bloomberg Currencies, stocks and bonds plunged across Africa after the UK’s vote to leave the European Union triggered a slump in oil and other commodities and sent investors scurrying for safe assets. South Africa’s benchmark share index fell the most since May 2010 to a third weekly decline, led by stocks with listings in London and by diversified mining ...

  Bloomberg Britain’s vote to leave the European Union will almost certainly have repercussions for the Federal Reserve — and those could play out over days or months. The severity of the fallout will become clear over three time horizons. The Fed said it’s ready to act with its global central bank partners to shore up liquidity in markets, if ...

  Our Correspondent EMIRATES BUSINESS Retailing in the UAE since 1988, Jacky’s Electronics is the country’s leading multi-brand consumer electronics retailer. The company opened its first retail showroom in Deira, Dubai and since then has grown steadily with five outlets across the UAE to date. Jacky’s Electronics has pioneered new concepts and approach to electronics retailing. All Jacky’s outlets are ...

  Our Correspondent EMIRATES BUSINESS While the summer sun shines bright over us, in all its might, the smell of a good fragrance is the only thing that prevents further concern. Being a top favorite amongst the elite in the world of fragrances, My Perfumes introduces a futuristic new concept called ‘Otoori’ where you can Mix and Match to create ...

  London / Bloomberg Southwest Airlines Co. will postpone delivery of 67 Boeing Co. 737 Max 8 aircraft by as many as six years, pushing $1.9 billion of spending on planes into the next decade. The airline also plans to accelerate six 737-800 orders to next year from 2018 to help cover the already announced early retirement of its oldest ...

  Washington / Bloomberg United Continental Holdings Inc. reached a tentative deal to bring its 25,000 flight attendants under a single labour contract for the first time since the merger that created the airline almost six years ago. A unified labour contract with flight attendants would address one of the most glaring failures since the 2010 merger of United’s parent ...

  Mumbai / Tribune News Service Muscat-based Oman Air is seeking an over 36 percent increase in bilateral flying rights from India as it seeks to compete with West Asian rivals to carry more passengers to and from the country, the world’s fastest growing aviation market. Oman Air, which flies to 11 Indian cities, is competing with three major Gulf ...