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

  Bloomberg Emerging-market bonds were supposed to be dragged down this year as central banks moved towards withdrawing stimulus. Instead, the best-performing global debt was all from developing nations. Sovereign bonds issued by South Africa, China, Indonesia, India and Croatia topped the rankings of 46 markets around the world in 2021, according to data compiled by Bloomberg through last week. ...

  Bloomberg RBL Bank Ltd shares plunged after a decision by India’s central bank to appoint a new director to the board raised concerns about the outlook for small private-sector lender. The stock dropped as much as 25% in Mumbai on Monday, the biggest decline since listing in 2016. It later pared the retreat to about 13% as of 1:15 ...

  Bloomberg The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research (CEBR). Global gross domestic product will be lifted by the continued recovery from the pandemic, although if inflation persists it may be hard for policy makers to avoid ...

  Bloomberg Saudi Arabia’s exports soared in October as the world’s biggest oil exporter benefited from higher crude prices. The value of exports jumped to 106.2 billion riyals ($28 billion) from 55.9 billion riyals a year ago, according to the kingdom’s General Authority for Statistics. The share of oil in total exports rose to 77.6% in October from 66.1%. Saudi ...

ABU DHABI / WAM The UAE has expressed its sincere condolences and solidarity with the People’s Republic of Bangladesh over the victims lost in a fire that broke out on a ferry south of the Bangladesh capital, Dhaka, causing dozens of fatalities and many injuries. The Ministry of Foreign Affairs and International Cooperation expressed its sincere condolences and sympathy to ...

  Sharjah / WAM Sharjah is adapting to new challenges and opportunities with the rapid development of a thoroughly digital transformation strategy that aims to accelerate economic diversification and promote sustainability by leveraging the power of technology across the public sector. Tasked with building an integrated government infrastructure in the emirate, the Sharjah Digital Office (SDO) has been at the ...

  Ajman / WAM Ajman Bank signed a memorandum of understanding (MoU) with the Emirates Development Bank (EDB) to offer credit guarantee and co-lending for small and medium-sized enterprises (SMEs) in the UAE. The MoU falls within the scope of EDB’s commitment to boost the SME ecosystem and the industrial sector in the UAE and thus increase its contribution to ...

  Dubai / WAM In a move that further contributes to realising the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world’s best city to live, work and visit, Dubai’s Department of Economy and Tourism (DET) has launched an online portal that ...

  Abu Dhabi / WAM Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports, has said that the group aims to explore opportunities and partnerships in regional and international markets by signing international partnership agreements. In his statement to the Emirates News Agency (WAM), Al Shamsi said the group’s investments will help improve the emirate’s stature as a key ...

  Abu Dhabi / WAM The United Arab Emirates strongly condemned and denounced the terrorist Houthi militias’ crime of targeting the Governorate of Samta in Saudi Arabia’s Jazan Province with a projectile, which killed two and wounded a number of civilians. In a statement issued by the Ministry of Foreign Affairs and International Cooperation (MOFAIC), the UAE expressed condolences for ...