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

Bloomberg New Zealand PM Jacinda Ardern has voted two weeks before election day as part of a strategy to encourage people to cast their ballots in advance. Early voting began on Saturday at 450 locations across the nation, ahead of the October 17 election day. The Electoral Commission has estimated as many as 60% of votes could be cast early, ...

Bloomberg India’s coronavirus death toll passed the 100,000 mark on Saturday, a milestone reached only by the US and Brazil. The South Asian nation’s total number of positive cases is 6.47 million and the death toll from the virus is 100,842, according to the health ministry. India may overtake the US in the coming weeks to become the world’s worst-affected ...

Bloomberg Czech billionaire PM Andrej Babis’s party dominated regional elections, overcoming a drop in popularity over his mixed record in handling the resurgent coronavirus pandemic. Babis’s ANO party won the most mandates in 10 out of 13 regions in the vote, according to partial results. That compared with ANO’s victories in nine regions four years ago. While local administrations hold ...

Bloomberg The European Central Bank (ECB) will start experimenting with a digital version of the euro while holding a public consultation in a major step towards introducing the technology. “Our role is to secure trust in money,” President Christine Lagarde said as the ECB published a study into the benefits and drawbacks of a digital currency. “This means making sure ...

Bloomberg Argentina’s central bank will allow a faster depreciation of its tightly-controlled peso, in the government’s latest attempt to contain a hemorrhage of foreign reserves. The central bank is ending a policy of “uniform devaluation” and allowing greater volatility, according to a central bank statement. It also announced that it was raising repo rates to 24% up from 19% and ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a congratulatory cable to HH Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah on the occasion of his inauguration as Emir of Kuwait. “We congratulate you on the precious confidence and your assumption of the reins of power in the sisterly State of Kuwait at this important stage ...

Abu Dhabi / WAM Mubadala Investment Company, one of the world’s largest global investors, and Silver Lake, the global leader in technology investing, on Wednesday announced they are building on their existing relationship by establishing a long-term investment strategy led by Silver Lake and supported by a $2 billion investment from Mubadala. The new strategy has a unique 25-year deployment ...

ABU DHABI / WAM Expats’ remittances from the UAE amounted to AED79.6 billion in H1-2020, according to figures released by the central bank of the United Arab Emirates. These account for 48.2 percent of the total money transferred by foreign residents in the country during 2019, which totaled AED165 billion. India took home the crown as the top-receiving country for ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Wednesday that one of its new trading entities, Adnoc Trading, has started derivatives trading as a direct market participant. This represents a major milestone for the company, as it moves from being a traditional marketer of its products to a more sophisticated global trader. Adnoc has incorporated ...

Abu Dhabi / WAM Renewable energy continues to bring socio-economic benefits by creating numerous jobs worldwide, according to the latest figures released by the International Renewable Energy Agency (Irena). The seventh edition of Renewable Energy and Jobs – Annual Review shows that jobs in the sector reached 11.5 million globally last year, led by solar PV with some 3.8 million ...