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

  Bloomberg Indonesia’s central bank gave the first signs Thursday that it will begin normalising policy, even as it left its benchmark interest rate unchanged. Bank Indonesia kept the seven-day reverse repurchase rate at a record-low 3.5% at its first monetary policy meeting of 2022, as predicted by all 29 analysts in a Bloomberg survey. In a briefing in Jakarta, ...

  Bloomberg Stocks and futures were mixed as the global sovereign-bond selloff paused and investors turned their focus to corporate earnings. Energy companies were among the biggest declines in Europe’s Stoxx 600 Index, as crude oil slipped from a seven-year high, while the rally in metals boosted miners. US futures advanced. Treasury yields dipped, but remain higher for the week ...

  Bloomberg SoftBank Group Corp. priced its biggest-ever yen bond on Thursday, using its popularity with retail investors to raise 550 billion yen ($4.8 billion) to pay off other debt. Billionaire Masayoshi Son’s technology conglomerate, which made headlines last year due to losses on Chinese ride-hailing giant Didi Global Inc., has been the single-biggest issuer in the Japanese corporate bond ...

  DUBAI / WAM UAE consumers are leading the way globally in prioritising sustainability as a food and drink mandate, a new survey by Bord Bia revealed. Bord Bia, the Irish food board, explored purchasing habits across 13 countries to better understand how different markets are responding to these changes. The pandemic has inadvertently accelerated a shift in shopping and ...

  Bloomberg Global oil markets look tighter than previously thought as demand suffers surprisingly little impact from the latest coronavirus strain while supplies are curbed by disruptions, the International Energy Agency (IEA) said. The surplus facing world markets this year is shrinking, with oil demand — slightly upgraded from last month — on track to hit pre-pandemic levels of 99.7 ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the leading International Financial Centre in Abu Dhabi, on Wednesday announced that it had achieved a “carbon-neutrality” status by offsetting its 2021 carbon emissions as an organisation. It reinforces ADGM’s commitment to building a progressive and more sustainable economy, and in addition, positioning ADGM as the first IFC in the world ...

  ABU DHABI / WAM The central bank of the United Arab Emirates (CBUAE) and the central bank of the Republic of Turkey (CBRT) on Wednesday announced the establishment of a bilateral currency swap agreement between the UAE dirham (AED) and the Turkish lira (TRY). The nominal size of this swap agreement is mutually AED18 billion ($4.90 billion) and TRY ...

  ABU DHABI / WAM Masdar City, Masdar’s pioneering sustainable urban development in Abu Dhabi, through its Masdar Green Real Estate Investment Trust (Reit), signed a financing commitment in the amount of $200 million with First Abu Dhabi Bank (FAB) relating to financing of the Reit portfolio to facilitate further acquisitions and portfolio growth. FAB will act as sole mandated ...

  ABU DHABI / WAM The Barakah Nuclear Energy Plant in the Al Dhafra Region of Abu Dhabi will prevent more carbon emissions than previously expected. This was announced during Abu Dhabi Sustainability Week, showcasing the essential role that nuclear energy plays in combating climate change and promoting sustainable development in the UAE and around the world. New data made ...

  Dubai / WAM A diverse range of technologically advance and innovative products will be displayed at Airport Show 2022 in Dubai. The 21st edition of the event will be held from May 17-19 at the Dubai World Trade Centre (DWTC), according to a press release issued by the organisers on Wednesday. The world’s largest airport industry B2B platform, organised ...