The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg President Donald Trump said he wants $5 billion from companies creating a new US-based TikTok venture directed towards teaching American children “the real history of our country.†Trump said that he had approved a transaction between Oracle Corp., Walmart Inc. and ByteDance Ltd. to create a new company called TikTok Global to run the US video-sharing app. As part ...
Read More »TimeLine Layout
September, 2020
-
20 September
UK to fine $13,000 for breaking isolation rules
Bloomberg The UK will issue fines of as much as 10,000 pounds ($13,000) for people who break self-isolation rules, marking the latest bid to curb the recent jump in coronavirus cases across the country. Penalties will start at 1,000 pounds for breaking the restrictions starting from September 28, the prime minister’s office said in a statement. Charges will increase for ...
Read More » -
20 September
Canada’s populous province extends caps on gatherings
Bloomberg Canada’s most populous province extended local caps on the size of gatherings across the region as new infections surge to their highest levels in months. In three areas of Ontario, Premier Doug Ford had previously set a limit of 10 people for indoor events and 25 for outdoor ones. His government announced those curbs would be extended province-wide. “This ...
Read More » -
20 September
Germany is planning new borrowing of $114b in 2021
Bloomberg Germany’s federal government is planning new borrowing of 96.2 billion euros ($114 billion) next year, as Europe’s biggest economy seeks to spend its way out of the deep recession caused by the coronavirus pandemic. Chancellor Angela Merkel’s ruling coalition abandoned a long-standing policy of running balanced budgets in March, and new debt is set to swell to a record ...
Read More » -
20 September
US consumer sentiment jumps to 6-month high
Bloomberg US consumer sentiment increased more than expected in early September to a six-month high as Americans grew more upbeat about the economy’s prospects. The University of Michigan’s preliminary sentiment index for September advanced to 78.9 from a final August reading of 74.1, according to data released. The median estimate from economists surveyed by Bloomberg was 75. The measure of ...
Read More » -
20 September
Virus is putting Britain’s next industrial revolution on ice
Bloomberg In the country that pioneered the world’s first industrial revolution in the 18th century, its latest one is looking very much on hold. The global shift towards robotics and artificial intelligence (AI) across advanced economies is currently in a go-slow phase in the UK — where both Covid-19 and Brexit have hampered progress. That threatens to harm Britain’s competitiveness ...
Read More » -
20 September
IPO frenzy nets billions for venture capital backers
Bloomberg Billions of dollars could be on the way to Sand Hill Road this week, home base for Silicon Valley’s venture capital elite, after a string of initial public offerings. Venture firms netted handsome returns on paper for their early investments. While the firms mostly won’t be able to sell their shares until lockup periods expire, proceeds from exits could ...
Read More » -
20 September
Europe’s stuck-in-a-rut stock market may stay there throughout year
Bloomberg The consensus among equity strategists is that the European market is going nowhere for the rest of the year after their brisk rebound in the first half of 2020, although predictions range from Deutsche Bank AG calling for an 18% gain to Commerzbank AG’s forecast of an 11% slide. The Stoxx Europe 600 Index will end 2020 at a ...
Read More » -
19 September
Sheikh Mohamed, France’s Macron discuss ties, regional peace efforts
Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Saturday a phone call from President of France, Emmanuel Macron. During the telephone call, His Highness Sheikh Mohamed bin Zayed and President Macron discussed ways to enhance bilateral relations and cooperation between ...
Read More » -
19 September
Oil posts best week since June as Saudis defend market recovery
Bloomberg Saudi Arabia’s warning to Opec+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted a troubling demand picture for the petroleum complex. Futures in New York rise 10% this week following a show of determination by Saudi Arabia, the most influential nation in ...
Read More »