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

  Bloomberg Swedish home construction is falling amid what may be the sharpest drop in house prices since the global financial crisis. In the first six months of this year, the number of housing starts dropped by 11% compared with the year-ago period, data from Statistics Sweden showed. The data comes as Sweden’s broader housing market is showing clear signs ...

  Bloomberg The Argentine government will impose restrictions to discourage imports in the coming days and protect reserves. The government is seeking to avoid losing more dollars after the national statistics agency reported that the country’s trade deficit widened in July to $437 million. Private consultants estimate that the country’s so-called net reserves — its assets on hand, minus the ...

  Bloomberg Euro-area economic activity declined for a second month, signalling that fears of a recession may already be coming to pass as record inflation saps demand and weakness seeps into more and more sectors. While August’s drop was driven by manufacturing, the post-lockdown rebound in services like tourism almost ground to a halt as consumers face steep gains in ...

  Bloomberg US index futures posted modest gains, Treasuries nursed losses and the dollar was steady as markets remained on edge ahead of the Jackson Hole central bankers’ symposium later this week. Futures on the the S&P 500 and Nasdaq 100 fluctuated before turning higher after US stocks plunged the most in two months. The 10-year Treasury yield held above ...

Bloomberg South Korean messaging giant Kakao Corp.’s manga business is pushing back plans to go public on the Tokyo Stock Exchange until next year, aiming for a valuation of $6 billion or more. Manga app operator Kakao Piccoma Corp had previously planned an initial public offering (IPO) for this December, but is delaying the process amid slumping tech valuations, according ...

  Abu Dhabi / WAM The Arab Monetary Fund (AMF) said that the Abu Dhabi Securities Exchange (ADX) was ranked first in the Arab region in 2021, in terms of buy and sell transactions by foreign investors. In its latest report on the financial stability of Arab countries, the AMF noted that buying transactions made by foreign investors in the ...

  Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE’s non-oil trade achieved a breakthrough during the first half of 2022, as it exceeded AED1 trillion, recording a growth rate of 17 percent over the last half of the year 2021. ...

  Dubai / WAM Dubai Cares, part of Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI), has announced that it received an AED5 million donation from Car Fare group, a vehicle rental and leasing organisation, to empower children and youth in developing countries with access to quality education. Car Fare group’s financial support will be directed to Dubai Cares’ programmes ...

  Dubai / WAM Nakheel, the Dubai-based master developer, has unveiled a new vision for the Dubai Islands, redefining the waterfront living concept. Comprised of five islands with a total area of 17 square kilometres, Dubai Islands have been designed to enhance the wellbeing and lifestyles of residents and visitors. Aligning with Dubai 2040 Urban Master Plan, Dubai Islands (formerly ...

  Abu Dhabi / WAM Abu Dhabi Department of Energy (DoE) on Monday announced that the development of its hydrogen policy and regulatory framework aims to accelerate the UAE’s national hydrogen strategy and help the country attain global leadership in low-carbon and clean hydrogen. For the design of this regulatory framework, the DoE is working with key Abu Dhabi government ...