The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
India is pushing for a valuation of around 640 billion rupees ($7.7 billion) for state-owned IDBI Bank Ltd. in what could be the biggest sale of the government’s stake in a lender in decades, according to a person familiar with the matter. The government earlier this month invited bidders for a 60.72% stake in the Mumbai-listed lender. The valuation target ...
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October, 2022
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24 October
Deutsche Bank pledges to cut emissions from loans to oil, gas
Deutsche Bank AG has given its clearest indication yet of how it plans to deliver on the commitment it made last year to reach net-zero financed emissions by 2050. Germany’s biggest bank said in a statement that it will “significantly†reduce its so-called Scope 3 emissions, which are also known as financed emissions, by 2030 and announced a set of ...
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24 October
China’s plunging market becomes a high-risk bet on Xi
China’s lurch towards one-man rule has made it more important than ever for investors to align their portfolios with the priorities of President Xi Jinping. Some are deciding it’s not worth the trouble. Chinese stocks tumbled by the most since 2008 in Hong Kong and the yuan hit a 14-year-low after the confirmation that Xi’s policies of stronger state control ...
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24 October
Korea’s $35b aid plan spurs relief rally in stocks, bonds
South Korean assets rallied on Monday after the government pledged at least 50 trillion won ($34.8 billion) to prop up credit markets, easing concerns about rising default risks in the key sectors including real estate. The Kospi index advanced as much as 2%, with shares of brokerages and builders such as Kiwoom Securities Co., Meritz Securities Co. and Dongbu Corp. ...
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24 October
Abu Dhabi summit discusses impact of pandemic on culture
Abu Dhabi / WAM The first day of Culture Summit Abu Dhabi kicked off in the UAE capital with an exciting programme of keynote speeches, discussions, sessions and cultural performances. In a session that discusses the impact of the pandemic on culture, Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, said, “If an issue happens in Brazil or ...
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24 October
Saudi launches bid to attract $10b supply chain investment
Saudi Arabia has earmarked 10 billion riyals ($2.7 billion) to provide incentives for global supply firms to invest in the kingdom, part of plans to develop its economy as a hub for industrial companies. Crown Prince Mohammed bin Salman bin Abdul Aziz announced the plans as part of Saudi Arabia’s Global Supply Chain Resilience Initiative on Sunday, that aims to ...
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24 October
ERC launches several projects in Mauritania
NOUAKCHOTT / WAM The Emirates Red Crescent (ERC) has launched several development projects in Aghlik bin Bayyah Village, as part of its continuous efforts to support vital services in Mauritania. The projects included the rehabilitation of a medical centre in the village and the Holy Quran Memorisation Institute. An artesian well was dug and provided with a solar-powered tank and ...
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24 October
No room for political polarisation at COP27: Egyptian foreign minister
Abu Dhabi / WAM    Egypt’s Foreign Minister Sameh Shoukry has articulated the central importance of the ‘COP27’ his country will host next month in the winter resort of Sharm El Sheikh, calling for pulling the 27th Conference of the Parties of the UNFCCC out of the ongoing context of “strong political and economic polarisation and the dynamics of politicisation and ...
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24 October
Khalifa Al Muhairbi named ‘Arab Real Estate Developer’ in Mena for second year
Abu Dhabi / Gulf Time The Future Forum for Arab Investments (FF2020AI) announced the awarding of the Emirati businessman and founder of the Arabian Gulf Investments Group in Abu Dhabi, Khalifa Saif Al Muhairbi, the title of the Arab Real Estate Developer in the Middle East and North Africa for the second year in a row, in recognition of his ...
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24 October
DIEZ cooperates with DP World to support Tumoohi initiative
Dubai Integrated Economic Zones Authority (DIEZ), announced on Sunday a collaboration with DP World to support the Tumoohi Initiative. This falls in line with its ongoing commitment to empowering young Emirati competencies and preparing the next generation of leaders in the logistics and trade sectors. Tumoohi is a recognised training programme initiative by DP World, designed to boost the careers ...
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