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

BLOOMBERG Two Federal Reserve policymakers cautioned that recent stronger-than-expected readings on the US economy could push them to raise interest rates by more than previously expected. In remarks, Governor Christopher Waller said that if payroll and inflation data cool after hot prints in January, “then I would endorse raising the target range for the federal funds rate a couple more ...

BLOOMBERG European Central Bank (ECB) Governing Council member Pierre Wunsch said market bets for interest rates to reach a 4% peak may prove accurate if underlying price pressures remain elevated. How far borrowing costs must rise “depends very much on the evolution of core inflation,” the Belgian central bank chief said, referring to the measure of consumer-price growth that strips ...

BLOOMBERG Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unraveling of a key industry payments network. The largest token by market value sank as much as 6% before paring some of the slide to trade 4.6% lower at $22,347 in New York. Smaller coins such as ...

BLOOMBERG Nationwide Building Society and HSBC Holdings Plc toughened limits on retail customers’ access to cryptoassets, becoming the latest UK banks to impose curbs after industry scandals and regulatory warnings. Nationwide is applying daily limits of £5,000 ($5,965) on debit-card purchases of cryptoassets, the building society informed customers, while its credit cards can no longer be used to buy crypto. ...

BLOOMBERG Toronto-Dominion (TD) Bank’s focus on retail banking in Canada and the US paid off last quarter as rising interest rates made lending to consumers more profitable. Still, concerns about its loan-loss provisions and delays to a major deal weighed on the stock. The bank’s US business saw its net interest margin — the difference between what it earns on ...

ABU DHABI / WAM Adnoc Gas on Friday announced the final offer price for the shares offered by Abu Dhabi National Oil Company (Adnoc or the selling shareholder) in connection with Adnoc Gas’s initial public offering (IPO or offering) and listing on the ADX, following the successful conclusion of the bookbuild and public subscription process. The final offer price for ...

DUBAI / WAM The Ministry of Health and Prevention (MoHAP) hosted a regional expert meeting on healthy diet policies in Dubai. The event, which was hosted by the World Health Organisation (WHO) Regional Office for the Eastern Mediterranean, aimed to discuss recent developments in the field of healthy diet policies at the regional level, with a special emphasis on the ...

DUBAI / WAM Emirates and Philippine Airlines (PAL) have signed an interline agreement to boost connectivity for passengers of both air carriers to new points on each other’s networks via Manila and Dubai, using a single ticket and one baggage policy. Now in effect, the reciprocal interline partnership provides Emirates’ passengers access to 19 Philippine domestic destinations operated by Philippine ...

DUBAI / WAM Dubai Electricity and Water Authority’s (Dewa) Research and Development Centre has obtained its eighth patent for a cutting-edge device that leverages advanced sensors to locate and survey geographical areas. The device employs real-time kinematic (RTK) processing techniques to process data collected on-site and works with a smart device developed by the R&D Centre, which uses a smart ...

BLOOMBERG Delta Air Lines Inc pilots approved a new contract that will provide at least 34% in cumulative pay hikes over four years, making them the first aviators at a major US carrier to finalise a post-pandemic deal. The agreement was endorsed by 78% of those casting ballots, the Air Line Pilots Association said in a statement. A separate agreement ...