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

  Bloomberg Nomura Holdings Inc. has hired four traders from Citigroup Inc., and six others from elsewhere, as it rebuilds its macro desks globally with a focus on foreign exchange. Dipak Shah, Sidi Mohamed Saaf, Matthew Rupsis and Christopher Torrington have recently joined Nomura from Citigroup in a variety of roles to help the Japanese lender boost its forward and ...

  Bloomberg Sri Lanka’s central bank chief imposed more capital controls and threatened to resign if politicians fail to return stability to the nation, which is in the grip of its worst economic crisis since independence. “I took on this responsibility with expectations that political stability will be established,” Governor Nandalal Weerasinghe said in Colombo. Weerasinghe’s briefing comes amid an ...

  Bloomberg Nu Holdings Ltd, a Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway Inc, partnered with blockchain startup Paxos Trust Co to allow its customers to trade cryptocurrencies. Nubank’s more than 50 million customers will initially be able to trade Bitcoin and Ethereum, according to Paxos Chief Executive Michael Coscetta. Paxos has seen demand increase for digital assets ...

Bloomberg Standard Bank Group Ltd has named a female Black person to chair Africa’s biggest lender by assets for the first time. Nonkululeko Nyembezi has been appointed as chairman-designate effective June 1, according to a statement. She replaces Thulani Gcabashe, who will retire after the annual general meeting on May 31. “It is hugely significant to us that the Standard ...

  Bloomberg US futures and stocks rise on Friday after Federal Reserve Chair Jerome Powell pushed back against speculation of steeper interest-rate hikes. Risk sentiment was boosted by a rebound in cryptocurrencies. Contracts on the S&P 500 gained 1% and those on the Nasdaq 100 climbed 1.6%. Twitter Inc shares plunged as much as 26% in New York premarket trading ...

  Bloomberg Indonesia’s stock benchmark avoided a correction after an intraday tumble of more than 10% from its high in April, dragged by technology shares. The Jakarta Composite Index of shares closed little changed on Friday, capping this week’s losses at 8.7%. That’s the worst week since March 2020, when the country shut its international borders to curb the pandemic. ...

  Abu Dhabi / Gulf Time Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities in the region, reported consolidated financial results for the three months ended March 31. Taqa delivered strong performance underpinned by its stable regulated and contracted utilities businesses and boosted by higher commodity prices. The company reports group revenues of AED12.4 billion, ...

  Abu Dhabi / WAM Fertiglobe, the strategic partnership between Adnoc and OCI, on Thursday reported its Q1 2022 results, announcing that revenues for the first quarter increased 118% to $1.2 billion, while adjusted Ebitda grew 171% to $625 million compared to Q1 2021. Adjusted net income in Q1 2022 was $361 million, increasing by 332% year-on-year, while free cash ...

  ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, has accepted 16 startups to join its growing community as part of accelerating the Emirate’s position as a leading innovation hub. By launching operations in Abu Dhabi, the new startup cohort, which has already raised more than AED 231 million in funding, will have the opportunity to develop advanced ...

  ABU DHABI / WAM Abu Dhabi Distribution Company (ADDC), a subsidiary of the Abu Dhabi National Energy Company (Taqa), on Thursday signed a memorandum of understanding (MoU) with Carrefour, owned by Majid Al Futtaim in the UAE, to expand its Green Corner initiative to include a pilot at Carrefour Al Saqr, located on Airport Road in the heart of ...