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

Bloomberg Citigroup Inc. plans to offer automatic-sweep products seven days a week as banks respond to clients’ demands for higher interest rates on deposits and faster access to their cash. Starting with the US and South Korea, the New York-based bank will now allow customers to automatically move funds into one central cash-management account every day, according to a statement. ...

Bloomberg Bank of America Corp.’s wealth unit rolled out a digital program that matches consumers with an adviser to meet rising demand for financial guidance. The firm’s Merrill Wealth Management business launched Merrill Advisor Match to capture new consumers looking for help investing and managing their money. “We want to make it easier and simpler for individuals who are seeking ...

Bloomberg Mongolia is facing a worsening foreign currency crunch following Russia’s war with Ukraine and a slump in China’s economy, forcing local banks to restrict the amount of dollars customers can buy. Khan Bank, the country’s largest bank measured by total assets, limited the daily amount of cash that can be converted into foreign currencies to 1 million tugrik ($300) ...

  Bloomberg Peru raised interest rates for a 15th straight month in a bid to get inflation back under control and limit the risk of capital flight as the US Federal Reserve withdraws stimulus. The central bank raised its benchmark rate by a quarter of a percentage point to a two-decade high of 7%, in line with expectations. That’s up ...

  Bloomberg US equity-index futures wobbled between gains and losses as investors awaited the latest payrolls report for clues on the monetary-policy path after a raft of Federal Reserve officials doused expectations for a quick halt to rate hikes. December contracts on the Nasdaq 100 Index fall 0.3%, trimming deeper losses, amid premarket declines for semiconductor stocks. Advanced Micro Devices ...

Bloomberg In the world’s third biggest economy, public skepticism toward financial investing has become so entrenched that investment bank Nomura Holdings Inc. is teaching economic basics in high schools to win over the next generation. About eight in 10 Japanese have never invested in securities, according to a lobby group for the nation’s brokers. Securities and investments account for only ...

  Abu Dhabi / WAM Shamma bint Suhail Al Mazrouei, Minister of State for Youth Affairs and Vice President of the Arab Youth Centre (AYC), highlighted the great attention that UAE’s wise leadership, headed by President His Highness Sheikh Mohamed bin Zayed Al Nahyan, shows towards youth and empowering them with the skills required to take charge in the media ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Abdel Fattah el-Sisi of Egypt, on the 49th anniversary of his country’s October 6 War victory. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, dispatched a ...

  Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) has introduced five more single stock futures in a further step to develop its derivatives market. Stock futures on Abu Dhabi Islamic Bank (ADIB), Abu Dhabi Commercial Bank (ADCB), Fertiglobe, Borouge and AD Ports, will be available for trading on the ADX derivatives market. The addition of new contracts has ...

Dubai / Gulf Time DP World added more than 23,000 nautical miles of new trade routes across the globe in the first three quarters of 2022, equivalent to a complete circumnavigation of the Earth. The new routes — connecting the Americas, Europe, Asia and the Middle East — are already opening new trading opportunities for cargo owners, better access to ...