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 Plc is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel. The London-based lender will stop financing thermal coal in the European Union and countries belonging to the Organisation for Economic Co-operation and Development (OECD) by 2030, ...

  Bloomberg Buying after a plunge, a trade rewarded virtually every time stocks pulled back in 2021, is facing a big challenge. Down hard for a second day Monday, the S&P 500 has now posted back-to-back, 1%-plus swoons twice in the past month, something it has mostly avoided doing before. It’s a worrying departure from the recent past, when 1% ...

  Bloomberg Stocks rise with US equity futures Tuesday on wagers that vaccines can help tame the omicron virus outbreak and signs that US President Joe Biden could yet revive his $2 trillion economic agenda. European shares rebounded, with miners in the lead as commodities gained. Asian shares were bolstered by a rebound in Japan and a rally in Chinese ...

  Abu Dhabi / WAM The World Future Energy Summit (WFES) is set to bring together industry leaders from around the world to showcase their technologies and innovations at the Abu Dhabi National Exhibition Centre (Adnec) from January 17-19, 2022. The event will provide unparalleled business, networking and knowledge exchange opportunities throughout Abu Dhabi Sustainability Week, according to organisers. Organised ...

  Abu Dhabi / WAM The National Central Cooling Company (Tabreed) has entered into a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to invest about $400 million in India over the next five years. Under the partnership agreement, Tabreed India, currently a wholly owned subsidiary of Tabreed, will be transferred to a ...

Abu Dhabi / WAM The United Arab Emirates has expressed its sincere condolences and solidarity with the Philippines over the victims of Typhoon Rai, which swept through several central and southern areas. The typhoon caused around 200 fatalities and left thousands homeless. The Ministry of Foreign Affairs and International Cooperation expressed its sincere condolences and sympathy to the Philippines government ...

  ABU DHABI / WAM Emirates Development Bank (EDB) on Monday announced the closure of an AED165 million revolving credit facility, co-arranged with First Abu Dhabi Bank (FAB) to Lamprell Energy Ltd, a leading provider of services to the international energy sector. The bespoke credit facility additionally benefited from the comprehensive trade credit solutions provided by Etihad Credit Insurance (ECI), ...

  Dubai / WAM As a part of Dubai government efforts to create new economic sectors, it was announced today that the Dubai World Trade Centre (DWTC) will become a comprehensive zone and regulator for virtual assets and crypto including digital assets, products, operators and exchanges. The DWTC will be designing a comprehensive ecosystem for this progressive sector within Dubai. The ...

  Abu Dhabi / WAM International Holding Company (IHC) has announced today the acquisition of a majority and controlling stake in Al Qudra Holding PJSC (AQH). The acquisition will enable IHC to broaden its portfolio in the real estate, services, and hospitality area. Al Qudra Holding has built out a large portfolio of customers since its founding in 2005, including ...

  Dubai / WAM Following the opening of the final phase of Concourse A at Dubai International’s (DXB) Terminal 3, the world’s busiest international airport is 100% operational with all terminals, concourses, lounges, restaurants, and retail outlets now open. Terminal 3 is expected to serve more than 1.6 million passengers in the second half of December during the month’s peak ...