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

Bloomberg Hungary’s outlook was revised to negative from stable by Standard & Poor’s Global Ratings as the nation tackles the fallout from war in neighbouring Ukraine and government wrangles with the European Union over billions of euros in funding. The country’s credit grade was maintained at BBB, the second-lowest investment grade, S&P said in a statement. That matches the level ...

Bloomberg China’s sovereign bonds are back on the menu for foreign investors. The nation’s debt rallied on Monday after the central bank unexpectedly cut interest rates, with the 10-year yield dropping to the lowest level in more than two years. The surprise easing move underscores how the nation’s bond market offers investors an asset class that’s uncorrelated to Treasuries and ...

  Bloomberg In what has been an annus horribilis for most developed-market equities, Japanese investors find their blue-chip benchmark back in positive territory for the year. Helped by a weaker yen and continued stimulus by a resolute Bank of Japan (BOJ), the Nikkei 225 index has outperformed peers and erased its 2022 losses on Monday. Its 0.3% gain compares with ...

  Dubai / WAM Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Electricity and Water Authority, and the World Green Economy Organisation, will organise the 8th World Green Economy Summit (WGES) on September 28-29, in conjunction with the Water, Energy, Technology and Environment ...

  DHAHRAN / WAM The Saudi Arabian Oil Company (Aramco or the company) on Sunday announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income and declaring a dividend of $18.8 billion to be paid in the third quarter. The results set a new quarterly earnings record for the company since ...

  Abu Dhabi / WAM The UAE expressed its sincere condolences and solidarity with the Arab Republic of Egypt over the victims of the church fire in Giza Governorate, which resulted in dozens of deaths and injuries. The Ministry of Foreign Affairs and International Cooperation expressed its sincere condolences and sympathy to the government and people of Egypt. , as ...

  SHARJAH / WAM The Sharjah Entrepreneurship Center (Sheraa) organised a community roundtable for Emirati entrepreneurs across diverse sectors to identify opportunities and gaps in venture building and gain a better understanding of the innovative measures required to create sustainable value in globally competitive markets. At the community roundtable, Sheraa engaged directly with the entrepreneurial community to gain better understanding ...

  Sharjah / WAM Under the patronage of HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the 11th annual edition of the International Government Communication Forum (IGCF) will take place on September 28-29, at Expo Centre Sharjah. Vibrant discussions centred around this year’s theme “Challenges and solutions”, will be led by senior public ...

  Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, affirmed that Dubai would continue to enhance its healthcare infrastructure to meet the growing needs of the population, in line with highest global standards in medical care and specialised treatment. “We are committed to realising the ...

  Dubai / WAM Dubai’s Roads and Transport Authority (RTA) announced that the number of riders using public transport means and shared mobility in Dubai that include Dubai Metro, Dubai Tram, public buses, marine transport means (abras, ferry, water taxi, water bus), e-hail rides, smart car rental, Bus-On-Demand, and taxis (Dubai Taxi and franchise company taxies) clocked nearly 304.6 million ...