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

  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 ...

  Abu Dhabi / WAM Aldar Properties and Apollo Global Management (Apollo), one of the world’s largest alternative investment managers, signed a landmark commitment that will see Apollo-managed funds and clients invest a total of $1.4 billion in strategic capital in driving Aldar’s transformational growth initiatives. The commitments are structured into a $500 million to invest into a land joint ...

  Abu Dhabi / WAM Al Yah Satellite Communications Company, the UAE’s flagship satellite solutions provider, on Monday announced that its government arm, Yahsat Government Solutions (YGS), has been awarded a AED909.5 million ($247.5 million) mandate to provide enhanced managed services to the UAE government for its satellite communications capabilities. The agreement augments the previous operations and maintenance services provided, ...

Sharjah / WAM Air Arabia on Monday announced a record financial results for the fourth quarter and for full year ending December 31, 2021, despite the prevailing impact of Covid-19 pandemic that continued throughout the year. “Air Arabia reported a net profit of AED720 million for the 2021, a rise of 475% compared to AED 192 million net loss registered ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of the Republic of Turkey, Recep Tayyip Erdogan, have reviewed the prospects of further consolidating bilateral relations and advancing cooperation and joint work between the two nations in various fields in ...