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

  Bloomberg China’s dominance of global trade provides a path to increase its currency’s share in global central bank reserves even if it retains tight capital controls, but Beijing will need to maintain large dollar reserves for that to happen, according to new research. While the yuan isn’t on course to displace the dollar as the world’s dominant currency, it ...

Bloomberg David Russell, a senior Morgan Stanley trading executive, who helped lead the firm’s equities business to the top of the pack on Wall Street, is leaving the firm. Russell, who joined the bank in 1990 and has been co-head of the unit since 2018, will retire at the end of the year, according to an internal memo. His fellow ...

  Bloomberg Stocks and US futures were mixed on Tuesday amid caution in global markets ahead of the Federal Reserve interest-rate hike. European energy and mining stocks rallied with oil and metals, while retailers and banks fell after disappointing reports from Walmart Inc and UBS Group AG. The Stoxx 600 fluctuated as S&P 500 and Nasdaq 100 futures slipped. Stocks ...

  Bloomberg Bitcoin sank to a one-week low, buffeted by investor skittishness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector. The largest token dropped as much as 5.9% on Tuesday and was trading at around $21,100 in London. The MVIS CryptoCompare Digital Assets 100 gauge shed more than 4%. Equity markets ...

  Dubai / WAM The 6th edition of Al Dhaid Date Festival came to a successful conclusion at Expo Al Dhaid, after four days of heritage activities and strong competitions among exhibitors. Organised by the Sharjah Chamber of Commerce and Industry (SCCI), the festival drew more than 30,000 visitors, who explored and learnt about the best and finest types of ...

  Abu Dhabi / WAM Borouge – as the manager of the Borouge 4 project on behalf of the project owners, Adnoc and Borealis – has announced a new milestone in the construction of the Borouge 4 expansion in Ruwais, with the early works phase already underway and the Engineering, Procurement and Construction (EPC) contractors set to start construction this ...

  Abu Dhabi / WAM The Abu Dhabi International Boat Show (Adibs), organised by the Abu Dhabi National Exhibitions Company (Adnec), has entered into a three-year sponsorship agreement with Abu Dhabi Maritime to support the event’s upcoming editions. Under the patronage of HH Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of the Zayed Charitable and ...

  Abu Dhabi / WAM Al Seer Marine PJSC (ASM), a global player across multiple marine sectors and subsidiary of International Holding Company (IHC), is expanding to provide freight solutions for bulk cargoes globally through its subsidiary, ASM Chartering. This subsidiary will focus on delivering effective and efficient freight services for cargo interests internationally, focused on the Middle East market. ...

  Dubai / WAM Dubai real estate market recorded 446 sales transactions worth AED1.07 billion, in addition to 85 mortgage deals of AED168.99 million, and 29 gift deals amounting to AED34.46 million on Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 376 villas and apartments worth AED803.87 million, and 70 land plots worth AED261.85 million, while ...

  Abu Dhabi / Gulf Time Al Seer Marine PJSC (ASM), a global player across multiple marine sectors and subsidiary of International Holding Company (IHC), is expanding to provide freight solutions for bulk cargoes globally through its subsidiary, ASM Chartering. This subsidiary will focus on delivering effective and efficient freight services for cargo interests internationally, focused on the Middle East ...