The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg A record wave of share repurchases by Hong Kong-listed companies could be a signal that the city’s beaten-down equities are ready for a turnaround after a year of underperforming global peers. Last year, 192 firms bought back a combined $9.2 billion worth of their own shares, the biggest annual tally on record, according to data on announced deals ...
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January, 2022
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14 January
European stocks fall as Fed hawks spur tech rout
Bloomberg European stocks followed Asian shares lower on Friday after a slew of Federal Reserve officials signaled they’ll combat inflation aggressively. Treasury yields rise, while the dollar fell. Technology companies, which are seen as most sensitive to higher rates, were among the biggest declines in Europe’s Stoxx 600 Index. US futures ticked up after the Nasdaq 100 fell to ...
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14 January
Berkshire Hathaway prices $1.1b worth of yen bonds
Bloomberg Warren Buffett’s Berkshire Hathaway Inc sold 128.5 billion yen ($1.13 billion) in bonds, taking advantage of Japan’s ultra-low borrowing costs. The US company priced a multi-part debt offering on Friday, marking its fourth bond deal in the Japanese currency in as many years. With a coupon of 0.203%, the US company priced its 5-year debt at a rate ...
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14 January
GCC investors buy 1% of EU’s bonds for Europe’s recovery
ABU DHABI / WAM The European Commission hopes to attract more GCC investors and financial institutions to fund its €800 billion NextGenerationEU programme, than the current one percent, said Johannes Hahn, EU Commissioner for Budget and Administration. NextGenerationEU is a temporary recovery instrument to help Europe repair the immediate economic and social damage brought about by the Covid-19 pandemic. ...
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14 January
Asia’s richest man plans $76b investment in green projects
Bloomberg The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion towards clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire. Reliance Industries Ltd., controlled by Ambani, has signed pacts with the state government of Gujarat for a total investment of 5.96 trillion rupees ($81 billion), according ...
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14 January
Emirati, int’l coders to drive UAE’s future: DP World
DUBAI / WAM DP World, the leading provider of worldwide smart end-to-end supply chain logistics, has been progressing its initiative to develop the capabilities of Emirati and international coders, developers, and engineers to drive the future of the UAE. The initiative is part of its overarching strategy to deploy industry-leading technology to broaden its vision of a digitised, more ...
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14 January
New Adib global sukuk fund raises AED587mn
ABU DHABI / Gulf Time Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has raised over AED587 million ($160 million) through its new flagship fund, the ADIB Global Sukuk Fund which was launched in October 2021. The fund offers investors an opportunity to invest in a diversified portfolio of regional and international sukuk instruments. It is designed ...
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14 January
IHC’s unit inks sale and purchase deal with RAK cement company
ABU DHABI / WAM Apex Holding, a subsidiary of International Holding Company (IHC), and a diversified operating holding company investing across multi sectors, has agreed to Ras Al Khaimah Cement Investment (Rakcic) sale and purchase deal. The transaction was approved by the board members of Rakcic, and subject to regulatory approvals. Through this agreement, Ras Al Khaimah Cement Investment ...
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14 January
Masdar’s Y4S platform set to return to ADSW
Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies and the host of Abu Dhabi Sustainability Week (ADSW), has announced the opening of registration for the 2022 Youth 4 Sustainability (Y4S) forum, a series of youth-led discussions taking place from January 17–19 as part of ADSW 2022. The Y4S platform, held under the patronage of ...
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14 January
Dubai Insurance hires 57 Emiratis
Dubai / WAM Dubai Insurance Company (DIN) has announced the successful recruitment of 57 new local professionals who have joined their growing team of experts as of December 2021. The new comers include 3 managers, 11 administrative supervisors, 32 legal researchers, 1 computer programmer and 10 customer service agents, bringing the total number of locals to 82 employees. Commenting ...
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