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

  Bloomberg Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks. The raid began on Tuesday, people familiar with the process said. A spokesman for Cologne prosecutors said searches at two unidentified banks started and included the ...

  Bloomberg The world’s biggest stock-market slump is testing the resolve of Vietnam’s investing masses. A government crackdown on real estate companies, corruption probes and tightening credit have pushed the benchmark VN Index down 36% this year in the world’s worst performance, led by banks and property firms. While some foreign investors see a buying opportunity, the crisis is punishing ...

Bloomberg European shares advanced, boosted by oil majors as crude prices recovered. US futures gained as investors parsed comments from Federal Reserve officials to assess the potential for slower interest rate hikes. The Stoxx Europe 600 Index climbed 0.7%, with Shell Plc and BP Plc among the biggest drivers of the gains. Contracts on the S&P 500 and the Nasdaq ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a congratulatory message to Kassym-Jomart Tokayev, President of Kazakhstan, on his re-election as President. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has dispatched similar message to Tokayev

  Abu Dhabi / WAM Adnoc Drilling Company on Monday announced that it has signed an agreement to acquire an additional three brand new high-specification offshore jack-up drilling units (the “rigs”). The cost of the acquisition is part of the company’s three-year guidance on capital expenditure and its strategic growth plans. The acquisition underpins the company’s accelerated fleet expansion and ...

  DUBAI / WAM Arada has unveiled its first project in Dubai with the launch of “Jouri Hills” at Jumeirah Golf Estates, a villa collection in the heart of one of the emirate’s most-sought-after residential and leisure communities. The latest phase in 40 million square foot Jumeirah Golf Estates master plan, Jouri Hills contains 294 high-end homes located close to ...

  DUBAI / WAM Dubai Aerospace Enterprise (DAE) Ltd announced that it had completed the previously announced acquisition of SKY Fund I Irish, Ltd and its subsidiaries (SKY Fund I) on November 18. Sky Fund I leases aircraft to 14 airline customers in 11 countries. Next-generation technology aircraft represent more than 90% of the acquired portfolio. Following the acquisition of ...

  Abu Dhabi / Gulf Time Khalifa Economic Zones Abu Dhabi – Kezad group, the integrated trade, logistics, and industrial hub of Abu Dhabi and a subsidiary of AD Ports group, announces an agreement with TotalEnergies Renewables Distributed Generation Middle East & Africa, an affiliate of TotalEnergies, to explore opportunities to solarise assets across Kezad’s industrial ecosystem. TotalEnergies’ Renewables Distributed ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) Ltd announced that it had completed the previously announced acquisition of SKY Fund I Irish, Ltd and its subsidiaries (SKY Fund I) on November 18. Sky Fund I leases aircraft to 14 airline customers in 11 countries. Next-generation technology aircraft represent more than 90% of the acquired portfolio. Following the acquisition of SKY ...

  Abu Dhabi / WAM More than 100 elementary school students marked the World Children’s Day by learning to regulate their emotions and gaining social and interpersonal skills, under the guidance of community experts and specialists from Abu Dhabi Centre for Sheltering and Humanitarian Care – Ewaa. The activities, organised as part of the Ministry of Interior’s activations, aimed at ...