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

Bloomberg Canada’s trade surplus with the rest of the world expanded significantly in August on larger energy exports. The country’s merchandise trade surplus was C$1.94 billion ($1.5 billion) from a revised C$736 million surplus in July, Statistics Canada reported in Ottawa. Economists were expecting a surplus of C$430 million, according to the median estimate in a Bloomberg survey. August was ...

Bloomberg Telefonica SA is considering options for its Spanish fiber network, including a stake sale, according to people familiar with the matter. The Spanish telecommunications company has spoken with potential advisers about a carve-out of the unit ahead of a possible deal to bring in new investors, the people said, asking not to be identified discussing confidential information. Any transaction ...

Bloomberg Prime Minister Boris Johnson sought to play down a supply chain crisis that’s seen fuel shortages across the country and farm animals threatened with destruction, calling it a “turning point” for the UK economy as it emerges from the pandemic and after leaving the European Union. In interviews, Johnson pushed his relentlessly positive message that the country will benefit ...

Bloomberg Toronto home sales posted their first increase in six months as the end-of-summer holidays finally brought buyers some new supply, though it still wasn’t enough to alleviate a historically tight market or keep prices from continuing their upward march. The number of Toronto homes changing hands climbed a seasonally adjusted 0.7% in September, the first rise from one month ...

Bloomberg Facebook Inc Chief Executive Officer (CEO) Mark Zuckerberg addressed a series of negative stories about the company for the first time by saying accusations that it puts profit over user safety are “just not true.” “It’s difficult to see coverage that misrepresents our work and our motives. At the most basic level, I think most of us just don’t ...

Bloomberg US futures fall with stocks as surging energy prices stoked inflationary pressures ahead of a key US employment report. Treasury yields extended an advance. S&P 500 and Nasdaq 100 contracts declined, with tech giants such as Apple Inc and Facebook Inc down in premarket trading. European equities slid to a two-month low, with natural gas prices soaring even as ...

Bloomberg Hong Kong is studying an expansion of trading in stocks denominated in the yuan as China pushes to gain broader international acceptance of its currency. In her annual policy address, Chief Executive Carrie Lam, said the city was looking at expanding channels for yuan flows from mainland China, including allowing trading of yuan-denominated stocks via an established link to ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) and OCI backed fertiliser partnership, Fertiglobe, on Tuesday announced its intention to float a 13.8 percent stake on the Abu Dhabi Securities Exchange (ADX) through an initial public offering (IPO). This offering is open to UAE citizens and residents, as well as domestic and international institutional investors. The offer ...

ABU DHABI / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Tuesday called His Majesty Sultan Haitham bin Tariq Al Said of Oman to check on the situation in the Sultanate in light of the tropical cyclone Shaheen that the country has been going through ...

DUBAI / WAM Emirates NBD has signed a $750 million 5-year Dual Tranche Financing Facility with Emirates. The landmark transaction remains competitively priced and marks a first for Emirates Airline as a sales-receivable backed financing structure, aimed to diversify their liquidity pool. Emirates NBD, one of the leading banking groups in the Menat (Middle East, North Africa and Turkey) region, ...