The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Exchange-traded fund (ETF) investors are dumping Treasuries in a hurry as bets on a global rebound in inflation build across asset classes. Roughly $639 million was pulled from the $15.7 billion iShares 20+ Year Treasury Bond ETF (ticker TLT), according to data compiled by Bloomberg. That was the fund’s biggest single-day outflow since March, when the coronavirus pandemic fuelled a ...
Read More »TimeLine Layout
February, 2021
-
10 February
Maersk shares sink after outlook for 2021 disappoints
Bloomberg A P Moller-Maersk A/S, the world’s largest container carrier, unveiled an outlook that disappointed the market amid signs freight rates are close to peaking. Shares in the Copenhagen-based company slumped about 8% when trading started in the Danish capital. Underlying Ebitda for 2021 is expected to rise to between $8.5 billion and $10.5 billion, the Copenhagen-based company said on ...
Read More » -
10 February
Thirst for yield witnesses oil market holdings rise higher
Bloomberg The crude market is now offering its biggest yield in about a year — at a time when other asset classes are offering meager returns — causing a surge in investor appetite for the commodity. As oil futures power to $60 a barrel, the market’s forward curve has moved sharply into a pricing pattern where nearer-dated contracts are more ...
Read More » -
10 February
UAE minister, Uzbekistan envoy discuss cooperation
ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, on Tuesday received at his palace Bakhtiar Ibrahimov, Ambassador of the Republic of Uzbekistan to the UAE. During the meeting, Sheikh Nahyan welcomed the ambassador of Uzbekistan and exchanged talks about the outstanding friendship between the UAE and his country, stressing the importance of boosting ...
Read More » -
10 February
UAE visitors to get ‘Martian Ink’ passport stamp on arrival
DUBAI / WAM Visitors arriving at UAE airports will receive a “Martian Ink†stamp on their passports, in commemoration of the Hope Probe’s historic arrival to Mars on February 09. An emblem of the country’s ambition and guiding principle that the “Impossible is Possibleâ€, the stamp — produced by the UAE Government Media Office in collaboration with Dubai Airports — ...
Read More » -
10 February
WHO rejects virus lab theory, saying animals likely source
Bloomberg A World Health Organization (WHO) investigation in China found that the coronavirus most likely jumped to humans through an animal host or frozen wildlife products, finding that it’s “extremely unlikely†it came from a laboratory leak. No further research is needed to look into the theory about a leak, Peter Ben Embarek, a WHO official, told reporters on Tuesday ...
Read More » -
10 February
Wizz Air Abu Dhabi to start Alexandria route on Feb 22
ABU DHABI/ WAM Low-cost airline Wizz Air Abu Dhabi has confirmed the start of its route from Abu Dhabi to Alexandria, Egypt, on February 22. The connection between Abu Dhabi and Alexandria provides an ultra-low fare travel option for tourists and residents in both UAE and Egypt, with fares starting as low as AED179. Kees Van Schaick, Managing Director of ...
Read More » -
10 February
FAB sponsors Emirati law students
ABU DHABI / WAM First Abu Dhabi Bank (FAB) has committed its support to a new FAB Scholars initiative, supporting the growth of Emirati students that have enrolled in the Paris II University law programme at DIFC Academy. Under the agreement between FAB and Paris II University [Université Paris 2 Panthéon-Assas] — the institution will be accepting up to 30 ...
Read More » -
10 February
FTA clarifies VAT registration of ‘sole establishments’
Abu Dhabi / WAM The Federal Tax Authority (FTA) clarified that a natural person owning a number of sole establishments may only obtain one tax registration for all its sole establishments, and not a registration for each establishment separately. The FTA indicated that a sole establishment (also referred to as sole proprietorship) is a legal form of business which is ...
Read More » -
10 February
Ajman’s schools, nurseries to shift 100% to e-learning
Ajman / WAM The Ministry of Education, in cooperation with the Emergency, Crisis, and Disaster management team in the Emirate of Ajman, has decided to suspend the regular learning in all schools and nurseries and shift 100% to distance learning. The move came in response to the strategic requirements pursued by the UAE to ensure the health and safety of ...
Read More »