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

  Bloomberg Europe’s currencies slid after Russia’s invasion of Ukraine plunged the continent into its biggest security crisis since World War II. The euro dropped to a nearly seven-year low against the Swiss franc as investors flocked to haven assets. The pair dropped as much as 1%, the largest slide in more than two years, before rebounding slightly. The common ...

  Bloomberg The UK’s cap on energy prices could spike another 50% in October to more than 3,000 pounds ($4,006) per household following huge gains in the wholesale natural gas and electricity markets, according to Investec Bank Ltd. The calculation assumes no change in prices over the remainder of the observation window that sets prices, but sustained market rallies could ...

  Bloomberg Grain markets catapulted even higher as Russia’s attack on Ukraine put a vital source of global supplies at risk. Wheat surged by the maximum allowed by the exchange, and corn earlier did the same. Milling wheat traded in Paris soared as much as 16% to a record, and oilseeds also bounded higher, heightening concerns of a further acceleration ...

  Bloomberg Global stocks and equity futures tumbled while bonds and oil soared as Russian President Vladimir Putin’s decision to order a military attack on Ukraine cast a pall over global markets. S&P 500 and Nasdaq 100 contracts slid about 1.7% and 2.3% respectively, signalling the latter, tech-heavy gauge faces a bear market. The Stoxx 600 Europe index shed some ...

  Bloomberg Russian assets nosedived as military attacks across Ukraine prompted emergency central bank action and investors braced for the toughest round of Western sanctions yet, wiping out more than $250 billion in stock market value. The ruble sank to a record low and stocks collapsed 45% — their biggest-ever retreat. Russian Eurobonds plummeted, pushing some into distressed territory. The ...

  Bloomberg Gold surged to the highest since 2020 after Russian forces attacked targets across Ukraine, triggering the worst security crisis in Europe since World War II and crushing risk sentiment. President Vladimir Putin vowed to “demilitarise” Ukraine and replace its leaders, while the West threatened additional sanctions in response. US President Joe Biden announced he would impose “further consequences” ...

  Abu Dhabi / WAM Adnoc Logistics & Services (Adnoc L&S) and Atlantic Gulf & Pacific International Holdings (AG&P), a leading downstream LNG platform and infrastructure development company, have signed a charter agreement to utilise Adnoc L&S’s LNG Carrier Ish as a Floating Storage Facility (FSU). Under the agreement terms, starting Q3 2022, AG&P will use the carrier for the ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan sent a cable of congratulations to Sultan Hassanal Bolkiah Mu’izzaddin of Brunei on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown ...

  ABU DHABI / WAM The Ministry of Defence has announced its intention to sign a contract with China National Aero-Technology Import & Export Corporation (CATIC) for the purchase of 12 L15 aircraft, with the option for 36 additional aircraft of the same type in the future. Tareq Abdulraheem Al Hosani, CEO of Tawazun Economic Council, said the deal comes as ...

  ABU DHABI / WAM Abdullah Mohammed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry, has discussed with Fatmir Bytyqi, Deputy Prime Minister of Government of the Republic of North Macedonia in charge of Economic Affairs, the means of boosting economic cooperation between businesses in Abu Dhabi and North Macedonia. During the meeting, which was held on ...