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

Bloomberg Two days after fading odds of a Blue Wave Congress appeared to kill off the reflation trade, Citigroup Inc. and Barclays Plc see signs of life. While the likely failure of the Democratic Party to take over the Senate means any fiscal splurge will probably be smaller, the prospect of increased Federal Reserve stimulus enhances the appeal of inflation-linked ...

Bloomberg Wells Fargo & Co. plans to freeze raises for top earners as the bank’s new leadership team retools compensation practices with a close eye on costs, according to people briefed on the plans. The measure, revealed to some managers on a conference call, will halt increases in base pay in the coming year for employees making more than $150,000, ...

Bloomberg Warren Buffett has gone from a stock-buyback skeptic to one of the world’s biggest repurchasers as his own firm becomes his favourite investment in the pandemic. The famed investor’s Berkshire Hathaway Inc. spent the third quarter buying back about $9 billion of its own stock, more than it had repurchased in any full year in its history. The buying ...

Bloomberg Hopes for a fat new package of government spending to plump the American economy looked to be a casualty of the election, with odds pointing to divided government. That left Jerome Powell the once and future king of markets, a regime stock investors are showing they can live with. To say bulls shook off disappointment over stimulus is an ...

New York / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the UAE believes in tolerance, openness and coexistence with all peoples, highlighting that the model that the UAE adopts in terms of human diversity is similar to that of the United Nations, where the ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, directed the allocation of AED10 million to the acquisition of the latest publications issued by the publishing houses participating in the Sharjah International Book Fair (SIBF). This comes as a continuation of his support to the book publishing industries, to enrich ...

Bloomberg Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African nation after its civil war all but shut down the energy industry at the start of the year. The Opec member, which owns Africa’s largest crude reserves, has been ramping up production since a truce took hold last month between rival ...

Abu Dhabi / WAM Over 30 of the world’s leading oil, gas, and petrochemical chief executives will join a virtual roundtable hosted by the Abu Dhabi National Oil Company (Adnoc), on November 11, to discuss critical issues facing the industry including how oil and gas companies are building resilience in response to Covid-19 and the role of the industry in ...

Dubai / WAM Smart Dubai announced its plans to participate in the 40th Gitex Technology Week, taking place from December 6-10 at the Dubai World Trade Centre, where it intends to showcase the latest developments in terms of city-wide smart transformation and the positive impact digitisation is making on people’s lives. Furthermore, Smart Dubai will be highlighting collaborative efforts undertaken ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 132,374 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...