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

  Bloomberg HSBC Holdings warned traders that one of the main risks to business continuity is the city’s quarantine policy as the Asian financial hub tightens to contain a fifth wave of infections. Hong Kong, which is pursuing a Covid Zero strategy to match mainland China, has employed some of the strictest measures in the world to keep infections at ...

  Bloomberg The Swiss franc rises to the highest level against euro in more than six years on Monday, as concern over a possible military confrontation in Ukraine boosted demand for the haven currency. The franc climbed 0.2% to 1.0324 per euro, a level last seen in June 2015. It is poised for a 10th day of gains, the longest ...

  Bloomberg China’s central bank set its strongest reference rate for the yuan in three years in a sign it’s loosening its grip on the currency amid a relentless rally. The People’s Bank of China (PBOC) set the reference rate at 6.3485 per dollar, the strongest since May 2018, similar to the average estimate in a Bloomberg survey. The move ...

  Bloomberg Equities in Europe declined on Monday and US futures reversed gains as the rout in technology stocks deepened amid concerns over the Federal Reserve’s imminent rate liftoff. Bonds gained. Tech stocks were among the largest decliners as the Stoxx Europe 600 index dropped almost 2%, on track for the biggest two-day slump since October. Tensions between Russia and ...

  Bloomberg Some of the world’s biggest funds are switching toward emerging-market equities in a bet their central banks have less need to raise interest rates after tightening before their developed-nation peers last year. Goldman Sachs Asset Management and BNP Paribas Asset Management are among those buying the shares on expectations the most attractive valuations in more than a decade ...

  Dubai / WAM Dubai’s business events sector and broader economy are poised to benefit from another year of successful bidding activity led by Dubai Business Events (DBE), the city’s official convention bureau. Collaborating with stakeholders across the public and private sectors, DBE has captured 120 events for the year 2021 and beyond. These events, a combination of conferences, meetings ...

  SHARJAH / WAM Several members of the Sharjah Consultative Council (SCC) discussed all the policies of the Sharjah Department of Housing (SDoH), reviewing the efforts of the Department in working to promote and improve the reality of the housing process in the Emirate of Sharjah, as well as proposing a number of solutions aimed at promoting citizens’ benefits. During ...

  Bloomberg The surging Omicron variant is complicating the recovery for a world economy that continues to be wracked by supply chain chaos, worker absenteeism and faltering assembly lines. Supermarkets are struggling to stock shelves amid chronic staff shortages. Airlines are grounding flights. Manufacturers are facing disruption and shipping lines remain backed up. At the same time, surging energy prices ...

  DUBAI / WAM The UAE Ministry of Energy and Infrastructure enables the country’s energy transition by adopting sustainability in all sectors including the maritime industry. The country has consolidated its leading position among the best maritime centres in the world by employing practices, decisions and legislation that have contributed to developing the sector and enhancing maritime safety standards, while ...

Sharjah / WAM With 11 design-led cross-cultural and cross-disciplinary crafts collaborations, 14 new collection launches and 10 programmes initiated during 2021, UAE-based Irthi Contemporary Crafts Council, an affiliate of Nama Women Advancement, has made a powerful statement on national and international platforms with its exceptional creative work, and unearthed new opportunities for Emirati craftswomen to develop and preserve local crafts ...