The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Credit Suisse Group AG promoted executives in its Asia-Pacific wealth management unit and removed a layer of hierarchy in a revamp after recent senior departures in the group. “We have flattened the organisational structure,†Benjamin Cavalli, the bank’s regional wealth head, said in a memo, while elevating market group heads who will report to him. Cavalli said he made the ...
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November, 2022
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10 November
Gucci is having a full-circle moment
Andrea Felsted Only three months after it emerged that Estee Lauder Cos. was in talks to buy Tom Ford for $3 billion, it’s now being reported that Gucci-owner Kering SA is in advanced discussions to acquire the American designer’s eponymous brand. Kering’s challenge with the label, known for its pricey fragrances and mini-dresses, would be almost the inverse of Estee ...
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10 November
Biden’s Venezuelan migrant deal won’t fix the border
Eduardo Porter Has the Biden administration figured out how to stanch the flood of desperate migrants overflowing across the southwestern border? These are early days, but the deal last month whereby Mexico would take back Venezuelans nabbed trying to enter the US illegally while the US would allow 24,000 Venezuelans into the country for up to two years – as ...
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10 November
US futures rise as CPI bets keep bonds on the edge
US stock-index futures rise, while Treasuries slipped, as investors remained on the edge before a report projected to show inflation in the world’s largest economy moderated for a fourth successive month. December contracts on the S&P 500 and Nasdaq 100 added at least 0.3% each, a day after the underlying indexes tumbled to one-week lows amid a blurry midterms verdict ...
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10 November
Sebi panel tells Indian exchanges to bolster oversight, compliance
A panel set up by India’s capital market regulator wants exchanges, clearing houses and depositories to revamp their compliance and risk management structures to minimise governance lapses. A committee headed by G. Mahalingam, a former central banker and a ex- whole time member at the Securities and Exchange Board of India (Sebi), recommended market infrastructure institutions (MII) should separate functions ...
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10 November
AD Ports, Iraq’s IDB join hands for port, logistics development
Abu Dhabi / WAMÂ Â AD Ports Group, the leading facilitator of global trade, logistics, and industry, and International Development Bank (IDB) signed an MoU to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq. The agreement was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports ...
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10 November
ADX derivatives market one-year trade hit AED 1 billion
Abu Dhabi / GULFTIMEÂ Â Â The Abu Dhabi Securities Exchange (ADX) is celebrating a year of unprecedented success for its derivatives trading market. In just 12 months since its launch in November 2021, the ADX derivatives market has grown to become the most liquid derivatives market in the Arab region, while being the youngest. In its first year, it has achieved ...
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10 November
Dubai’s Empower IPO raises AED2.6bn amid huge demand
Dubai / WAMÂ Emirates Central Cooling Systems Corporation PJSC (Empower), on Wednesday announced that, following the successful completion of the book-build and public subscription process for its initial public offering (IPO), it has set the final offer price for its IPO at AED1.33 per share, at the top of the price range. Following two successful upsize announcements, a total of ...
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10 November
UAE President issues new law on regulation, development of industry
Abu Dhabi / WAMÂ President His Highness Sheikh Mohamed bin Zayed Al Nahyan, issued Federal Decree-Law No. 25 of 2022 regarding the regulation and development of industry. The new law was introduced to support the organisation and development of the national industrial sector by increasing the flexibility to adopt more supportive policies and provide incentives. The law aims to be ...
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10 November
DP World teams up with EDB to provide trade financing for SMEs
Dubai / WAM DP World has teamed up with Emirates Development Bank (EDB), signing a memorandum of understanding to provide small and medium-sized enterprises (SMEs) access to trade financing through DP World’s trade finance platform. It includes a formal framework for EDB and DP World to provide SMEs with access to trade financing at competitive rates via DP World’s trade ...
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