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

  Bloomberg Inflation is surging, central banks are on the move and now it’s earnings season. To top it all off, stock traders face the market-roiling potential of a monthly options expiration estimated at more than $2 trillion. Roughly $495 billion in single-stock derivatives are set to expire, with another $980 billion of S&P 500-linked contracts and $170 billion in ...

  Bloomberg Bitcoin climbed above $41,000, advancing along with equities after China indicated it’s about to loosen monetary policy. The largest cryptocurrency rose as much as 0.6% to $41,500 on Thursday, gaining for a second day. Katie Stockton, co-founder of Fairlead Strategies LLC, said technical indicators she follows suggest Bitcoin could be due for a short-term bounce to as high ...

Bloomberg Taiwan Semiconductor Manufacturing Co. raised its sales outlook for the year after quarterly earnings jumped 45%, helped by solid demand for chips used in everything from smartphones to cars. Annual revenue in dollar terms will top the previous outlook for as much as 20%-plus growth, the world’s biggest contract manufacturer of chips said. Sales will rise to $17.6 billion ...

Dubai / WAM Dimitri S Kerkentzes, Secretary-General of the Bureau international des Expositions (BIE), has said that the UAE’s hosting of the Expo 2020 Dubai was “a truly remarkable World Expo” thanks to the vision of the UAE, and the joint efforts of the organisers and all participants, who worked hard to offer a historic event for the region and ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, sent cables to King ...

  Abu Dhabi / WAM Shares in Dubai Electricity and Water Authority (Dewa) surged 15.7 percent on their market debut after its $6.1 billion initial public offering (IPO), the region’s biggest since Saudi Aramco’s. The stellar share rises to AED3.00 in early trade, up from the IPO price of AED2.48, before settling at AED2.87, 15.7 percent up, by the end ...

  VIENNA / WAM The Opec Fund for International Development (Ofid) signed a $100 million loan agreement with the government of Morocco to help build an inclusive financial sector as part of broader efforts to modernise the economy and support the kingdom’s recovery from the Covid-19 pandemic. Under the “Financial and Digital Inclusion Programme”, co-financed with the World Bank, the ...

DUBAI / WAM flydubai, the Dubai-based airline, announced that flights to Taif in Saudi Arabia will commence on April 15 with a daily service. This brings the number of destinations served by the carrier in the kingdom to seven. Ghaith Al Ghaith, Chief Executive Officer at flydubai, said, “We are pleased to see our network grow to offer more than ...

  Dubai / Gulf Time Emirates has launched Dubai Experience, its powerful and intuitive platform for customers to easily browse, create and book their own customised itineraries including flights, hotel stay, visits to key attractions, and other dining and leisure experiences in Dubai and the UAE. Customers can choose from pre-curated itineraries if they are first-time visitors, or if they ...

  Abu Dhabi / WAM ADQ, an Abu Dhabi-based investment and holding company, has undertaken several transactions in publicly listed companies within key sectors of Egypt’s economy, building on its long-term commitment to investing in the country’s economic growth through its $20 billion joint strategic investment platform. The investments reflect ADQ’s continued confidence in Egypt’s strong economic potential. The transactions ...