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 predicts an increase in business for its bank’s key wealth division in Asia this year after a difficult period last year and is looking to add talent, its Asia Pacific president said. “I think our wealth management will power away this year, because of what’s happening in China, opening up and creating a more positive outlook ...

  Bloomberg Sri Lanka’s bondholders aren’t living up to their obligations and should cancel debt to allow the country to get out of its economic crisis, a group of international academics said in a letter. Private creditors own almost 40% of the country’s external debt, mostly in the form of International Sovereign Bonds, but higher interest rates mean they receive ...

  Bloomberg Credit Suisse Group AG has lost two more senior private bankers in Hong Kong as attrition woes continue at the Swiss bank, according to people familiar with the matter. Mandy Loo, a managing director for the China market, and Howard Wu, a team leader for Greater China investment consultants, have both left the bank, said the people, asking ...

  Bloomberg The European Central Bank (ECB) predicts wage growth — a key indicator of where inflation is headed — will be “very strong” in the coming quarters, strengthening the case for more interest-rate hikes. A study of salary developments since the start of the pandemic shows underlying pay growth has been “relatively moderate” and is currently close to its ...

  Bloomberg Asia’s benchmark stock index was on track to enter a bull market, as China’s reopening and a weakening dollar lure investors back to the region. The MSCI Asia Pacific Index climbed as much as 1.9% on Monday, taking its advance from an October 24 low to more than 20%. Gauges in Hong Kong, Taiwan and South Korea led ...

  Bloomberg A cryptocurrency sector battered by turmoil last year is showing some signs of life early in 2023, posting bigger gains than other major asset classes including stocks, bonds and gold. The MVIS CryptoCompare Digital Assets 100 Index of top tokens is up some 6% so far this month, exceeding advances of about 2% in global stocks, 1% in ...

Abu Dhabi / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade said that the UAE continues to leverage its global presence by opening up to the world and expanding its network of trading partners through comprehensive economic partnership agreements with a carefully selected group of markets of strategic importance internationally and regionally. The minister made ...

  Bloomberg The World Bank is concerned that “further adverse shocks” could push the global economy into recession in 2023, with small states especially vulnerable. The warning is contained in an abstract for the bi-annual “Global Economic Prospects” report due for release on Tuesday and visible on the group’s Open Knowledge Repository website. Even without another crisis, global growth this ...

  Abu Dhabi / WAM The Engineering Export Council (EEC) of Egypt has announced that the sector’s exports increased by 10 percent to $3.32 billion from January-November 2022, compared to $3 billion in the same period in 2021. According to the EEC’s monthly report, the most notable industries with export growth in the first 11 months of 2022 over the ...

  Abu Dhabi / WAM Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, the National Centre of Meteorology (NCM) will host the 6th Edition of the International Rain Enhancement Forum (IREF) from January 24-26. Gathering leading global and national experts, researchers, scientists, and stakeholders, the forum will discuss ...