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

Bloomberg The dollar surged past a key level against the yen for the first time since 2017, as the renomination of Jerome Powell as Federal Reserve chair fuelled bets that the US might tighten policy more quickly. The dollar-yen climbed as much as 0.2% to 115.14 — a Japanese market holiday — surpassing the psychologically important 115 level. Treasury yields ...

Bloomberg Citigroup Inc is looking to hire 100 people as part of a new push into digital assets inside its institutional business, according to a person familiar with the matter. As part of the effort, the firm tapped Puneet Singhvi to be its new head of digital assets inside the institutional-clients group, according to a memo to staff seen by ...

Bloomberg US Treasuries rise as traders tempered their expectations for monetary-policy tightening after New Zealand’s measured approach to rate hikes. Oil prices climbed as producers and major consuming nations headed for a confrontation. Signals from the stock market were mixed, with the European benchmark opening higher while US index futures fell modestly. Energy stocks were among the best performers in ...

Bloomberg Speculative stocks had a rough day, as did Bitcoin and other cryptocurrencies. To some market-watchers, that’s no coincidence. The 100-day correlation coefficient of Bitcoin and the S&P 500 stands at 0.33, among the highest readings of the year. That means that when stocks move up, Bitcoin is likely to do the same, and vice versa. (A coefficient of 1 ...

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, will be on an official visit to Turkey on Wednesday, at the invitation of President Recep Tayyip ErdoÄŸan. His Highness will discuss with the Turkish President the prospects of consolidating bilateral ties across various ...

Bloomberg Oil climbed, erasing an earlier loss, as a landmark plan from consumers to tap their strategic oil reserves was less severe than markets expected. Futures in New York wiped out losses to trade above $77 a barrel after Tuesday’s statement from the White House. While the headline size of the US release is large, a significant chunk of the ...

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, received a phone call from the Italian Prime Minister, Mario Draghi. During the conversation, His Highness Sheikh Mohamed bin Zayed and Draghi discussed bilateral ties between the two friendly countries and ways to enhance ...

DUBAI / WAM The bilateral trade between Israel and Dubai has reached AED2.57 billion since the Abraham Accords was signed in September 2020, a senior Israeli diplomat told Emirates News Agency (WAM). “We have this huge amount of trade (even though) Israel was closed completely for foreigners, and sometimes for Israelis, too, up to November 1, because of Covid-19. It ...

DUBAI / WAM The Environmental Solutions vertical of Dulsco Group has launched an advanced Oil Re-Refinery Plant, the first of its type in the region. The facility, located at Jebel Ali, spans over 14,000 square metres. Progress within any industry comes at the expense of an unfortunate by-product ”Waste”. Progressively developing economies such as the UAE’s value sustainability as an ...

Abu Dhabi / WAM The Abu Dhabi SME Hub, a Khalifa Fund initiative, launched the “Access to Experts” programme, which will allow entrepreneurs to connect with leading industry mentors via the digital platform. Through the new programme, entrepreneurs will have access to a list of experts across three main themes: access to the Abu Dhabi market; business expertise, including design ...