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

  Bloomberg Pakistan held its benchmark interest rate steady for the first time in four meetings, opting to watch the effects of previous increases on the Asia’s fastest inflation. The State Bank of Pakistan (SBP) kept the target rate unchanged at 9.75%, Governor Reza Baqir told reporters in Karachi. Thirty-nine of the 43 economists surveyed by Bloomberg predicted the decision, ...

  Bloomberg The Reserve Bank of Australia (RBA) will probably scrap its bond-buying program at the first meeting of 2022, as a strengthening economic recovery suggests the additional stimulus measure is no longer needed. All but one of 17 analysts polled by Bloomberg expects the RBA will end quantitative easing at its February 1 meeting. The outlier, HSBC Holdings Plc’s ...

  Bloomberg The US will likely move forward with its own digital currency, with issuance occurring between 2025 and 2030, according to Bank of America Corp (BofA) US government-backed coins, also known as central bank digital currencies, or CBDCs, “are an inevitable evolution of today’s electronic currencies,” strategists Alkesh Shah and Andrew Moss, wrote in a report. In the meantime, ...

  Bloomberg Global banks are raising concerns to Chinese authorities about a plan to tighten rules on overseas stock listings, saying the draft rules are ambiguous and will expand Beijing’s regulatory reach outside the nation’s borders. The proposals will also drive up costs and stymie dealmaking, the top lobby group for financial firms in Hong Kong said in a letter ...

  Bloomberg Thailand is considering taxing stock trading for the first time in more than three decades, and making crypto traders part with a share of their profits, as the government hunts for revenue to fund billions of dollars in pandemic relief. Prime Minister Prayuth Chan-Ocha’s government is expected to decide by end-January on the method and rate of taxing ...

  Bloomberg Microsoft Corp shares rise in late trading, reversing an earlier decline, after the software giant gave a forecast that reassured investors the company’s Azure cloud-computing business still has potential to drive growth. Earlier, Microsoft had reported quarterly sales that topped $50 billion for the first time and profit that exceeded analysts’ estimates, fuelled by cloud, gaming and Windows ...

  ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has praised Russia’s supportive stance for the UAE, during the last session of the UN Security Council, on the terrorist attacks by the Houthi militia on civil facilities in the UAE. During His Highness Sheikh Abdullah’s call to Russian Minister ...

  Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies, and W Solar Investment, a subsidiary of Alpha Dhabi Holding, and a development and investment company in the solar energy industry, have formed a joint venture company (JVC) to develop clean energy projects in a range of geographies. The new company, MW Energy Limited, will act ...

  DUBAI/ WAM Emirates Health Services (EHS) launched the world’s first Healthcare Metaverse platform – MetaHealth – showcasing the pilot version of the project at the Arab Health 2022 exhibition. The platform allows users to enter the virtual world using only their smart devices. This is particularly useful for ‘People of Determination’ – a top priority in the UAE – ...

  ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that it has created a new, wholly owned subsidiary, Adnoc Murban RSC Ltd (Adnoc Murban), which will become the primary debt capital markets issuing and rated entity for Adnoc Group. Adnoc Murban is expected to be rated “AA” by Standard & Poor’s (S&P), “Aa2” by Moody’s ...