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

BLOOMBERG Singapore’s top trade official said the city-state is willing to facilitate a dialogue between the US and China to repair their relationship, as he described growing tensions between the world’s biggest economies as detrimental to the world. US-China tensions “have serious consequences for the rest of the world,” Gan Kim Yong, Singapore minister for trade and industry, told Bloomberg ...

BLOOMBERG Emerging-market shares have value as bonds are losing their buffer because of US rates volatility, according to analysts at Goldman Sachs Group Inc. With rising nominal interest rates, local fixed income securities “no longer appear to have much cushion” with fluctuations in US rates, strategists led by London-based Kamakshya Trivedi wrote in a note. MSCI Inc.’s index of developing ...

BLOOMBERG Global stocks retreated on Thursday, and Treasury yields held near the key 4% mark as investors priced the likelihood of higher interest rates and a looming US recession. Futures on the S&P 500 slipped 0.3% and those on the rate-sensitive Nasdaq slid 0.6%. Chipmakers Nvidia Corp and Advanced Micro Devices Inc fell about 0.7% in pre-market trading, while Tesla ...

DUBAI / GULF TIME Dubai Tourism has honoured Dr Jamal Jomah, founder and leader of Med Art Clinics and the president of Arab Association for Surgical and Aesthetics Medicine in Dubai, as one of its Al Safeer Congress Ambassadors. The Al Safeer Congress Ambassador Programme members have been leading the way in bidding for and winning significant international conferences and ...

ABU DHABI / WAM On March 8, the UAE celebrated International Women’s Day to recognise the realities and challenges that women face, as well as to acknowledge the ongoing efforts towards women’s empowerment. The UAE has leveraged its global stature to support women’s issues by launching a series of initiatives, programmes, and plans to promote women in all communities, strengthen ...

BLOOMBERG Oil held a hefty loss after Federal Reserve Chair Jerome Powell signalled interest rates could rise higher and faster than previously anticipated, raising concerns about the economy and energy demand. West Texas Intermediate futures edged lower near $77 a barrel after posting the biggest one-day decline since early January. The remarks, made during a testimony before Congress, opened the ...

AL AIN / WAM Silal, Abu Dhabi’s leading food, agriculture, and technology company, has announced that its state-of-the-art automated packhouse in Al Ain will deliver up to 216 tonnes of fresh produce daily and will be the largest of its kind in the UAE. Covering an area spanning 14,000 square metres, Silal’s automated packhouse includes a 4,930 square metre grading ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) and Tawazun Industrial Park, established by Tawazun Council, have signed a memorandum of understanding to boost industrial sector’s competitiveness and further develop it by implementing initiatives and programmes of the Abu Dhabi Industrial Strategy (Adis). The agreement was signed by Arafat Al Yafei, Executive Director of Added’s Industrial ...

BLOOMBERG Nato Secretary-General Jens Stoltenberg said the possible fall of Bakhmut “in the coming days” would not indicate a turning point in Russia’s war against Ukraine. “We must continue to provide support to Ukraine,” Stoltenberg said before a meeting with European Union (EU) defense ministers in Sweden. Oleksandr Syrskyi, the commander in charge of Ukraine’s ground forces, made a second ...

BLOOMBERG European Union (EU) defense ministers cautiously welcomed a plan to send Ukraine ammunition from their existing stocks, but urged the bloc to work faster on jointly procuring shells to jump-start production. “What is crucial is that Ukrainians direly need ammunition and we have to ramp up production within Europe,” Swedish Defense Minister Pal Jonson told reporters in Stockholm ahead ...