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

  Bloomberg Singapore authorities are urging banks to impose stronger security measures to prevent more phishing scams after one of the city-state’s biggest lenders was hit by a serious case of fraud. Banks need to expand their fraud surveillance capabilities, Lawrence Wong, the finance minister and deputy chairman of the Monetary Authority of Singapore (MAS), said in parliament on Tuesday. ...

  Bloomberg Bankers based in Italy are meeting in the northern town of Parma at the Assiom Forex conference as the banking industry looks at possible consolidation amid rising profits and a resurgent economy after the pandemic. Italian lenders have cleaned up their books, curbed risks and reduced costs in last few years. Now, they are set to benefit from ...

  Bloomberg Bank of America Corp (BofA) says the worst of this year’s selloff in the municipal bond market might already be over, though there may be some additional pain in March after Federal Reserve’s rate decision. With timing of expected policy tightening at central bank now shifted to next month, first quarter should absorb most of the bearish price ...

  Bloomberg Mexican deputy central bank Governor Jonathan Heath expects the board to raise its key interest rate by a quarter-point next month, assuming the US Federal Reserve delivers an increase of that size and there are no other surprises. Going forward, the Fed’s hikes are likely to be the Banco de Mexico’s “floor,” Heath said in a video interview ...

  Bloomberg European stocks and US futures rise on Tuesday after a report fueled optimism that Russia is de-escalating tensions with Ukraine. All sectors in Europe’s Stoxx 600 Index posted gains and US benchmarks climbed. The ruble and Russian stocks rallied after Interfax reported that Russia’s southern and western armies are returning to their bases. Treasury yields advanced, while the ...

  Bloomberg Life Insurance Corp of India (LIC) will withstand the global shift towards higher interest rates because its $128 billion stock portfolio is dominated by larger companies in sectors such as financials and energy, an analysis by Bloomberg Intelligence shows. LIC, set for nation’s biggest ever initial share sale in Mumbai, has a portfolio peppered with index heavyweights such ...

  Bloomberg A pair of big Bitcoin miners are poised to sell their stock in the face of a drop in token prices that has led other miners to trade in some their Bitcoin holdings. Marathon Digital Holdings Inc. and Hut 8 Mining Corp. have both filed with the Securities and Exchange Commission for the option to sell company stock ...

  DUBAI / Gulf Time Emaar Development PJSC, the leading build-to-sell property development business, majority-owned by Emaar Properties, achieved robust performance during 2021 (January to December). The developer reported its highest ever property sales of AED27.440 billion ($7.471 billion) in 2021, an increase of 335 percent compared to 2020. This performance was a result of Emaar’s concerted focus on inventory ...

  Abu Dhabi / WAM Upon the directives of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), 1.2 million people are benefitting from the ERC’s winter aid campaign. The ERC has intensified its humanitarian and relief efforts to support people affected by harsh weather conditions in affected ...

  Abu Dhabi / WAM The Abu Dhabi Future Energy Company (Masdar) plays a crucial role in supporting the UAE leadership’s vision to promote relevant initiatives and innovation. Since its establishment in 2006, the company has supported the UAE’s efforts to promote sustainability and climate action. Masdar has exerted significant efforts to boost innovation for over 15 years. It has ...