The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

BLOOMBERG  UBS Group AG and Credit Suisse Group AG are offering a rare incentive for their wealth bankers in Asia to bring in fresh cash, underscoring the challenges the former Swiss rivals face to ensure stability as they seek to complete a government-orchestrated merger. Relationship managers at both firms will receive commissions of 15 basis points, or $0.15 for each ...

BLOOMBERG  Bank of America Corp (BofA) plans to ask about 40 bankers in Asia to look for jobs in other divisions as it looks to manage the industry-wide decline in dealmaking while trying to avoid headcount reduction. About half of these client-facing roles are based out of Hong Kong with a focus on China, and the majority of the affected ...

BLOOMBERG India has reclaimed its spot as the world’s fifth largest stock market after losing that status to France in January, as foreign investors snap up the Asian nation’s shares. India’s market capitalisation stood at $3.3 trillion, helped also by a rebound in Adani Group’s stocks after a short seller report earlier in the year sparked a heavy selloff. Meanwhile, ...

BLOOMBERG A gauge of Chinese shares traded in Hong Kong inched closer to a bear market as a wobbling economic recovery, intensifying geopolitical tensions and a weaker yuan kept investors away. The Hang Seng China Enterprises Index (HSCEI) slumped 1.3% on Monday, taking its losses from a January 27 peak to a whisker away from reaching 20%. Meituan was the ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Recep Tayyip Erdoğan on his re-election as President of the Republic of Türkiye. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy ...

ABU DHABI / WAM The Abu Dhabi International Hunting and Equestrian Exhibition (Adihex) has been, for many years now, providing limitless opportunities to promote sustainable hunting as well as Emirati and international falcon breeding companies, through its thousands of visitors. Like birds of a feather, Emirati falconers and visitors from GCC countries and various parts of the world flock to ...

FUJAIRAH / WAM The International Taekwondo Federation’s (ITF) Executive Board in a meeting in the Azerbaijani capital, Baku, on Sunday, chaired by International Taekwon-Do Federation (ITF) President, Dr Chungwon Choue, announcing that the emirate of Fujairah will be hosting the 2025 World Juniors Taekwondo Championships. Moreover, the board revealed that Ouchi City in China would host the World Senior Taekwondo ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with a Romanian diplomatic delegation, exploring opportunities to strengthen economic cooperation and boost trade. Both sides also discussed the potential establishment of a Romanian trade representative office in Sharjah to stimulate joint investments and promote participation in events and exhibitions in the emirate. Abdullah ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has awarded Albino Malungo, ambassador Extraordinary and Plenipotentiary of the Republic of Angola to the UAE, the First Class Medal of Independence on the occasion of the end of his tenure as ambassador to the UAE, and in appreciation of his work, which contributed to the ...

BLOOMBERG  Vietnam’s electric-car maker VinFast recalled all 999 of its initial sport utility vehicles shipped to the US over malfunctioning software that can lead the main screen to go blank. The company can begin delivering an over-the-air software update on Thursday that fixes the issue, according to its defect notice posted to the US National Highway Traffic Safety Administration’s (NHTSA) ...