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

  Bloomberg Nigeria unveils redesigned high-denomination banknotes as the central bank confirmed a January deadline to roll out the new bills despite calls for an extension. “We will not shift the deadline,” Governor Godwin Emefiele said at a briefing in the capital, Abuja. Critics of the move have argued that the six-week window will cause massive lines at banks and ...

  Bloomberg Goldman Sachs Group Inc. will pay $4 million to settle US regulators’ claims that its asset-management unit didn’t properly weigh environmental, social and governance (ESG) factors in some of its investment products. The Securities and Exchange Commission (SEC) said that the Goldman Sachs Asset Management unit “had several policies and procedures failures involving the ESG research its investment ...

  Bloomberg Predicting the price of a stock a year from now is hard, even for Wall Street’s best analysts. But for investors who bought into the bullish expectations behind cryptocurrency-related stocks at the beginning of this year, those forecasts now look like pipe dreams. For 10 crypto stocks tracked by Bloomberg, with at least three analyst price targets at ...

  Bloomberg US stocks rise as investors await the release of policy minutes from the Federal Reserve’s latest meeting for potential signs that the central bank may slow its pace of interest-rate hikes. The S&P 500 climbed after closing at its highest level since mid-September. The Nasdaq 100 jumped after wavering as the session started. Sentiment was boosted after latest ...

  Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies, has signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo), to develop a 100 megawatt (MWac) solar photovoltaic (PV) plant, which will be the company’s first project in Turkmenistan. The JDA signing was witnessed by Serdar ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Tuesday held a phone call with Joko Widodo, President of the Republic of Indonesia. During the call, His Highness offered his sincere condolences to the President and people of Indonesia and to the families of the victims of the earthquake that struck the island of ...

  Abu Dhabi / WAM Adib Securities, a Shari’a-compliant brokerage firm in the UAE and a wholly owned subsidiary of Abu Dhabi Islamic Bank (Adib), reported over AED22 billion worth of trades for the nine months period ended September 30. The Abu Dhabi-based brokerage reported a 149% increase in its digital trading platform utilisation compared to the same period last ...

  Abu Dhabi / WAM Aldar Properties on Tuesday announced that it acquired a prime beachfront plot of over 40,000 square metres located on Al Marjan Island in Ras Al Khaimah. The land was bought from Marjan, master developer or freehold properties in Ras Al Khaimah, and paves the way for a residential development on the island. Aldar intends to ...

  Abu Dhabi / WAM The accelerated growth of the UAE defense, aerospace and security industry provides an excellent opportunity for Spanish companies to collaborate and increase their industrial cooperation with UAE companies, said Tareq Abdulraheem Al Hosani, Secretary General of Tawazun Council. Al Hosani was attending a UAE-Spain Defense Meeting, held on Tuesday in Abu Dhabi. The meeting was ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, witnessed the launch of ‘We The UAE 2031’, a national plan and road map for the next 50 years. The national plan is an integrated programme shaping the future of the country within the next ten ...