The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG Philippines’ core inflation bolted to the fastest pace in 24 years, a print that will likely convince policymakers to retain their tightening bias even as the headline measure slowed. The core gauge, which strips volatile food and energy costs, rose 7.8% in February from a year ago, quickening from 7.4% the prior month and clocking in the fastest increase ...
Read More »TimeLine Layout
March, 2023
-
7 March
Q Holding, ORA to develop smart city in Abu Dhabi’s Ghantoot
ABU DHABI / GULF TIME Â Q Holding and ORA Real Estate Development Group signed a partnership agreement to develop a smart and sustainable city in the Ghantoot region of Abu Dhabi, UAE. The integrated city will span over 20 million square meters and will provide the community with residential, hotel, cultural, commercial, sporting and recreational services, all with a focus ...
Read More » -
7 March
JetBlue’s $3.8 billion Spirit Air deal faces DOJ antitrust suit
BLOOMBERG The US Justice Department and Department of Transportation were expected to take action as soon as Tuesday to block JetBlue Airways Corp’s $3.8 billion takeover of Spirit Airlines Inc, according to people familiar with the case. The Justice Department is expected to file an antitrust lawsuit in federal court, alleging that the elimination of Spirit would increase ticket prices ...
Read More » -
7 March
Brazil’s Azul, Gol surge as new deals ease cash woes
BLOOMBERG Brazil’s battered airlines got some relief after striking agreements that eased investors’ concern over their liquidity amid deteriorating credit conditions in their home market. Azul SA’s American depositary receipts closed 41% higher at $5.85 in New York, the most on record, and bonds due in 2026 climbed 16 cents to 67.5 cents on the dollar. The moves follow an ...
Read More » -
7 March
KLM, others sue Dutch government over Amsterdam airport flight cap
BLOOMBERG KLM NV and several other airlines are going to court to challenge the Dutch government’s decision to reduce flight capacity at Amsterdam’s Schiphol airport. Delta Air Lines Inc and EasyJet Plc are among airlines joining forces with the Dutch arm of Air France-KLM, which accounts for close to 60% of traffic at Schiphol, to “safeguard the future capacity†of ...
Read More » -
7 March
South African chronic power crisis erodes Shoprite’s profit, dividend
BLOOMBERG Shoprite Holdings Ltd lamented chronic electricity shortages in its home market of South Africa that held back growth in first-half profit and capped gains in the dividend payout. The owner of chains including Checkers and U-Save spent 465 million rand ($25 million) more on diesel in the six months through January 1 to ensure power during regular rolling blackouts. ...
Read More » -
7 March
Fast-money quants are buying stocks as human traders stay put
BLOOMBERG While stock-picking investors wait around trying to decide their next market move, their computer-driven counterparts have no such luxury. The quants’ taskmasters — trend lines on charts and volatility targets — are forcing them into a concerted buying spree, just as the bond market creates fresh headaches for traditional money managers. One pool of rules-based money, Commodity Trading Advisors, ...
Read More » -
7 March
Stocks edge higher as US Treasuries hold below 4%
BLOOMBERG Global stocks edged higher Tuesday, as Treasury bond yields held below the key 4% mark and investors waited to see what policy message Federal Reserve Chair Jerome Powell would deliver at his Congressional testimony later in the day. Contracts on the S&P 500 pointed to a bounce after the underlying gauge closed flat, having erased a gain of as ...
Read More » -
6 March
Sheikh Mohammed okays setting up of $100 billion Asian Investment Bank office
ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; HH ...
Read More » -
6 March
ADQ, IHC to create Mena’s largest independent investment manager
ABU DHABI / WAM ADQ and International Holding Company (IHC) announced on Monday their intention to create the region’s largest multi-asset class investment manager, to be headquartered in Abu Dhabi. Upon its launch, the investment manager will manage a portfolio of assets from ADQ’s Alternative Investments platform, Abu Dhabi Growth Fund (ADG) and IHC as well as fresh capital from ...
Read More »