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

  Bloomberg India’s $50 billion fintech industry will face hurdles in the form of tougher regulatory scrutiny and tighter liquidity leading to higher cost of capital for some companies next year, Rakesh Pozhath, partner at consulting firm Bain & Company, said. Investors into the country’s fintech space that has drawn heavyweights from Warren Buffett’s Berkshire Hathaway Inc to Masayoshi Son’s ...

  Bloomberg Sweden’s household lending grew last month at the slowest pace on record, as rates rise and home prices plunge. In November, lending to households grew by 4.1%, which is the lowest annual increase since Statistics Sweden began collecting the data in 2006. Mortgages accounted for 82% of all new loans, the office said in a statement. New lending ...

  Bloomberg Customers of failed cryptocurrency exchange FTX sued in bankruptcy court in hopes of being first in line to recover some of the billions lost in the meltdown of Sam Bankman-Fried’s digital-asset empire. A group of four FTX customers asked a bankruptcy judge to rule their holdings in the Bahamas-based exchange belong to them, rather than FTX. They want ...

  Bloomberg Stocks in Europe struggled for direction along with US equity futures as news of further moves by China to reopen its economy failed to lift investor sentiment in the final week of a dismal year for markets. The Stoxx Europe 600 index erased an early advance, with carmakers and technology stocks leading declines. Basic-resources stocks rose as prices ...

Bloomberg Foreigners bought the least amount of Chinese domestic shares this year after a selloff in the world’s second-largest stock market amid stringent Covid-19 restrictions and a housing slump. Overseas investors have purchased a net 87 billion yuan ($12.5 billion) of stocks in Shanghai and Shenzhen so far this year through trading links with Hong Kong. That’s about a fifth ...

  Bloomberg Oil climbed as China took more steps to unwind its Covid Zero policy and freezing weather across the US prompted refinery closures in the vital Texas Gulf Coast area. West Texas Intermediate traded near $80 a barrel after Beijing announced it will no longer subject inbound travellers to quarantine from early January, the latest step in the dismantling ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Tuesday discussed, during a telephone conversation, with Mohamed Ould Ghazouani, President of Mauritania, the bilateral relations between their countries, and the prospects for boosting cooperation to serve the interests of their countries and peoples.

  Abu Dhabi / WAM Mubadala Health signed a partnership agreement with Abu Dhabi Pension Fund (ADPF) to provide exclusive healthcare services to ADPF-registered pensioners. The agreement will result in the implementation of a personal health programme for pensioners. All new pensioners will be immediately enrolled in the programme. The agreement will enhance cooperation between the two parties, in line ...

  Abu Dhabi / Gulf Time Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, has opened sustainable corporate bank accounts with Citi and Standard Chartered Bank. EGA is amongst the first in the region to choose the accounts, which ensure cash balances are used to finance or refinance sustainability progress elsewhere ...

  Abu Dhabi / WAM Etihad Airways is set to strengthen air connectivity between the UAE and China next year, starting with an additional weekly frequency on its Abu Dhabi – Shanghai route. Subject to regulatory approval, from February 2023, the airline will fly to Pudong International Airport (PVG) two times per week using modern Boeing 787 and 777 aircraft. ...