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

Bloomberg At least three people involved in credit trading are leaving Standard Chartered (StanChart) amid a property debt crisis in China and an unprecedented selloff in fixed income globally. Duncan Robinson, global head of credit flow trading, is leaving the firm, according to people familiar with the matter, who asked not to be identified as they are not authorized to ...

Bloomberg China plans to extend the yuan’s trading hours as it seeks to increase global investor participation in onshore currency trading as part of its internationalisation push. Regulators led by the People’s Bank of China have told some banks to prepare for an extension of onshore yuan trading hours, according to people familiar with the matter, who asked not to ...

  Bloomberg Credit Suisse Group AG vowed to boost the business with rich clients and cut costs through simplifying technology as it seeks to emerge from two years of scandal and losses. The bank outlined plans to grow the wealth unit by focusing on priority markets such as Hong Kong and Singapore, in a presentation for an “investor deep dive” ...

  Bloomberg The surge in the dollar has set Asian currencies on course for their worst quarter since the 1997 financial crisis and created a dilemma for central bankers. Policy makers already grappling with the fastest inflation in decades now face stark choices: forcefully raise borrowing costs to defend currencies and risk hurting growth, spend reserves that took years to ...

Bloomberg South Korea ramped up foreign currency sales in the first three months of this year as it stepped into markets to counter the rapid weakening of the won, which has since dropped to a 13-year low. South Korean FX authorities, including the finance ministry and the Bank of Korea (BOK), sold a net $8.3 billion of their foreign exchange ...

Bloomberg Oil rallied for a fourth day as a government report showed US stockpiles dropped last week, exacerbating global supply concerns with shipments from Libyan ports suspended. West Texas Intermediate rose as much as 2.4% to trade near $114 a barrel. US crude stockpiles fell 2.76 million barrels last week, according to an Energy Information Administration (EIA) report on Wednesday. ...

  VIENNA / WAM The UAE has presented its Fourth National Report on Compliance with the Obligations of the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management. The UAE is participating as a Contracting Party to the Joint Convention, which is holding its 7th review meeting at the International Atomic Energy ...

  Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) announced that it has listed Invictus Investment Company, a trading firm specialising in agro-food commodities, raw materials for industries and finished goods, and a subsidiary of Invictus Holding Limited. The company made its trading debut on Abu Dhabi Securities Exchange’s Growth Market as it takes steps to broaden the products ...

  Dubai / WAM Dubai Future Foundation (DFF) organised an event bringing together startups with venture capital firms to explore opportunities for collaboration and growth in the technology and digital economy sector. In line with DFF’s ongoing efforts to enhance Dubai’s position as a global hub for tech innovators and investors, the event was part of the “10×10” initiative launched ...

  Abu Dhabi / WAM Sharif Al Olama, Under-Secretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, highlighted the deep-rooted ties between the UAE and Germany, lauding their overall relations. He made this statement while heading an Emirati delegation visiting Germany, in the presence of Abdullah Al Hameli, Head of Political Affairs Section at the UAE ...