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

  Bloomberg Zambia’s central bank expects to complete research on forming a digital currency that could cut transaction costs and boost participation in the formal financial system by the fourth quarter. “The results of research will form part of the input in the policy considerations on whether to introduce a central bank digital currency in Zambia,” Nkatya Kabwe, acting assistant ...

  Bloomberg Credit Suisse Group AG warned that higher costs for pay and its restructuring will weigh on results in 2022, adding to the bank’s woes after it posted the biggest quarterly loss in about four years. The Zurich-based bank had a net loss of about 2 billion francs ($2.16 billion) in the three months through December, primarily driven by ...

  Bloomberg Bonds in India gained and the rupee falls after the central bank held back on a widely expected hike in a key rate, continuing with its benign policy stance amid a hawkish turn by most global central banks. The yield on five-year bonds fall 17 basis points to 6.20%, while that on 10-year note declined by ten points ...

  Bloomberg Stocks in Europe trimmed an advance on Thursday amid mixed corporate earnings, while US futures slipped as traders await key US inflation data that may shape views on how aggressively the Federal Reserve will tighten monetary policy. The Stoxx Europe 600 index was little changed after paring a gain of as much as 0.5%. Siemens AG jumped as ...

  Abu Dhabi / WAM The UAE is embarking on ambitious growth-focused reforms aimed at improving the ease of doing business, attracting foreign investors, creating jobs and diversifying the economy away from oil, said HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. He added that the country is also committed to combating the threat ...

  Abu Dhabi / WAM Aldar Properties (Aldar) on Wednesday announced its preliminary financial results for the full year of 2021, reporting revenues of AED8.58 billion, up 2 percent year-on-year, a gross profit of AED3.60 billion, up 21 percent year-on-year, and a net profit of AED2.33 billion, up 21 percent year-on-year, highlighting the resilience of Aldar’s diversified business model. Aldar ...

Dubai / WAM As part of its endeavours to strengthen its global presence as a trusted multi-lingual news provider, the Emirates News Agency (WAM) signed agreements for cooperation and news exchange with four leading TV and radio stations in Latin America and the Caribbean region. In a ceremony hosted by the Youth Pavilion at Expo 2020 Dubai, WAM signed the ...

  Sharjah / WAM The Sharjah Real Estate Registration Department (RERD) announced that during 2021, the real estate trading volume in the emirate of Sharjah recorded the highest value in four years. The department’s annual report revealed that the volume of real estate transactions in the emirate amounted to a total of AED26.2 billion last year. Abdul Aziz Ahmed Al ...

  Abu Dhabi / WAM Emirates Global Aluminium (EGA) plans to build a 150,000 tonnes per year aluminium recycling facility, the company’s first and set to be the largest in the UAE. EGA intends to market recycled aluminium under the product name “EternAL,” the company announced on Wednesday in a statement. The facility will process post-consumer aluminium scrap such as used ...

  Abu Dhabi / WAM Abdullah Mohammed Al Mazrui, Chairman of the Abu Dhabi Chamber of Commerce and Industry, has received Dr. Ahmed bin Hilal bin Saud Al-Busaidi, Ambassador of Oman to the UAE, at the chamber’s tower in Abu Dhabi. During the meeting, which was also attended by Mohamed Helal Al Mheiri, Director General of Abu Dhabi Chamber, Al ...