Bloomberg Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the US assassinated one of Iran’s most powerful generals. Futures rose as much as 3.1% on Monday as the US State Department warned of a “heightened risk†of missile attacks near energy facilities in Saudi Arabia. …
Read More »
DUBAI / WAM A recent report has noted that the value of the Internet of Medical Things (IoMT), for the Mena region is expected to increase to $9 billion by 2022. The report was released in the run-up to Arab Health, the Mena region’s largest exhibition for healthcare and trade professionals. The exhibition will showcase the role technology has on …
Read More »Bloomberg Gold surged to its highest since 2013 as rising tensions in the Middle East stoked demand for havens, with Goldman Sachs Group Inc. seeing more room to run. Palladium extended gains to a fresh record. Bullion neared $1,600 an ounce after Tehran said it would no longer abide by any limits on its enrichment of uranium following the killing …
Read More »
Bloomberg Boeing Co. fell in early trading on reports that the company is weighing a move to raise more debt following the grounding of its 737 Max and that the jetliner’s return to service could face further complications. While Boeing had about $20 billion in available funds at the end of the third quarter, costs stemming from the Max crisis …
Read More »
Abu Dhabi / WAM The Abu Dhabi Islamic Bank (ADIB), a leading financial institution, signed an agreement to provide an $80 million Shariah-compliant Ijara facility to the Oman Shipping Company SAOC (OSC), a member of the ASYAD Group, for the financing of two VLCC (Very Large Crude Carriers) tankers within the OSC group. The transaction represents the OSC’s first Sharia-based …
Read More »
Bloomberg The US assassination of one of Iran’s most powerful generals has the oil industry bracing for something it has long feared and anticipated — direct military confrontation between the two adversaries. In the hours after President Donald Trump ordered the killing at Baghdad airport of Qassem Soleimani, who led Iran’s Quds force, crude oil surged, American workers began to …
Read More »
Bloomberg China’s financial regulator said it will implement a series of measures to shore up nation’s troubled smaller banks and insurers while continuing a clampdown on shadow financing, property speculation. The regulator will introduce measures to eliminate bad loans and promote mergers, capital injections and the restructuring of high risk institutions, the China Banking and Insurance Regulatory Commission said in …
Read More »ABU DHABI / WAM The UAE has condemned a decision by Turkey to send military forces to Libya in a stark violation of the international community’s and UN Security Council’s resolutions on Libya, according to Security Council Committee established pursuant to Resolution 1970 of 2011 to prevent the sale or supply of arms to Libya without its approval. Such a …
Read More »
Bloomberg Bangko Sentral ng Pilipinas estimates oil prices will have to surge and persist at $90 a barrel for it to impact the central bank’s inflation forecast, Governor Benjamin Diokno said. It’s “too early to say,†Diokno said in a text message when asked if the latest geopolitical development between the US and Iran could threaten inflation targets and impact …
Read More »
Abu Dhabi / Emirates Business Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), announced that 2020 will see further evolution in the development of the FTA’s electronic systems, as part of its efforts to provide clear and simple procedures for managing, collecting and implementing federal taxes, ensuring higher rates of customer satisfaction. Al Bustani said that …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.