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

Bloomberg JPMorgan Chase & Co raised the stakes in Wall Street’s intensifying battle for talent, expanding a previously announced pay increase to a broader range of staff as rivals across the industry pay up to hold on to their lowest-level analysts. Junior sales, trading and research analysts across JPMorgan’s corporate and investment-banking unit are now in line for raises, a ...

Bloomberg Jefferies Financial Group Inc is boosting the salaries of its first-year analysts in the US by more than a quarter, the latest bank to bump pay as they seek to stem defections amid intense workloads. The Wall Street firm will now pay its junior bankers $110,000, up from $85,000 previously, according to a person familiar with the matter. Second-year ...

Bloomberg Cryptocurrency lobbyists were caught ill-equipped in one of the first legislative battles for their nascent industry, despite a Herculean push that impressed Washington insiders with its intensity. The industry failed to win a change to crypto tax reporting rules in the infrastructure bill, leaving intact language for broad oversight of virtual currencies in the legislation that’s poised to pass ...

Bloomberg Wells Fargo & Co said Charles Noski stepped down as chairman and is being replaced by board member and former JPMorgan Chase & Co Vice Chairman Steven Black. Noski, 68, a director for more than two years and chairman since March 2020, will remain on the board until his retirement on September 30 to help with the transition, the ...

Bloomberg European stocks rose to a record on strong earnings, while US futures drifted as investors continued to monitor comments from Federal Reserve officials on scaling back stimulus measures. The Stoxx 600 Index climbed for a seventh day, with Flutter Entertainment Plc leading gains after the gambling company beat profit estimates. US equity futures were little changed, while stocks rose ...

Bloomberg Chinese internet stocks rallied in Hong Kong on Tuesday after some brokers started to turn optimistic on the sector and said investors were making an attempt to find a bottom in prices after the recent selloff. The Hang Seng Tech Index rose 2.5%, the most in nearly two weeks, to snap a three-day losing streak. The sector bellwether Tencent ...

ABU DHABI / WAM The Department of Community Development in Abu Dhabi (DCD) and Statistics Centre — Abu Dhabi (SCAD) signed a cooperation agreement that will allow the two entities to accurately measure the quality of life for workers in Abu Dhabi. The aim is to activate their role within a set of future programmes that will help them to ...

Bloomberg Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand. Futures fell below $66 a barrel in New York, while wilting timespreads showed the market is faltering. Goldman Sachs Group Inc downgraded its economic growth forecast for China as the country imposed measures to contain virus flare-ups, ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has sent congratulatory messages to kings, presidents and emirs of the Arab and Islamic countries on the advent of new Hijri year 1443. President His Highness Sheikh Khalifa bin Zayed wished them good health and happiness, further progress and prosperity for their people and dignity and glory for the ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), a multi-line insurance providers for both corporates and individuals, reported net profit for the six-month period ended 30th June 2021 increased by 31.1 percent to AED248.7 million, compared to AED189.7 million for the same period in 2020, driven by outstanding performance in both underwriting and investment activities. Gross written premiums ...