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

Bloomberg Bank of England (BOE)policy makers are being forced to keep stumm just as the outlook is changing, restricting their ability to reinforce signals that lower interest rates could be imminent. The UK’s December 12 election will hamper any attempts to prepare markets for a move at the BOE’s next decision just before Christmas. Officials are now in the customary ...

Bloomberg India’s Yes Bank Ltd, the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month. Its shares have rallied about 50% — the biggest gain among global peers valued at more than $1 billion — after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised ...

Bloomberg Deutsche Bank AG shareholders have called for Chief Executive Officer Christian Sewing to end his role in supervising the investment banking division amid concern it may distract him from his main job, the Telegraph reported. Deka Investment, one of the bank’s shareholders, called it “unusual” for a CEO to run a division while there’s ongoing restructuring involving 18,000 job ...

Bloomberg Nigerian local-currency bond yields have plunged to 18-month lows as investors pile into the debt after the central bank restricted sales of higher-yielding, shorter-term central-bank securities. The average yield for naira government bonds has dropped 117 basis points to 13.03% since the central bank moved to block individuals and non-bank firms from buying so-called open-market operations (OMOs) on October ...

Bloomberg Vietnam’s Military Commercial Joint Stock Bank plans to raise about $240 million from the sale of a 7.5% stake to foreign investors via a private placement, according to people familiar with the matter. The sale of the 7.5% stake, or 141.5 million new shares and 47 million treasury shares, is expected to be completed by the end of this ...

Bloomberg A Wall Street regulator is opening a probe into Goldman Sachs Group Inc’s credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card’s algorithms when determining credit limits. A series of posts from David Heinemeier Hansson starting railed against the Apple Card for giving him 20 times the credit limit ...

RAS AL KHAIMAH / WAM The Gulf and Indian Ocean Hotel Investors’ Summit (GIOHIS) in partnership with the Ras Al Khaimah Tourism Development Authority on Sunday announced that the emirate will host ‘GIOHIS 2020’ at Al Hamra International Exhibition and Conference Centre in Ras Al Khaimah on November 23-24, 2020. The Summit is expected to attract 300-350 senior executives from ...

Dubai / Emirates Business Saudi German Hospital-Dubai (SGH-Dubai) has been awarded Gold Certification for Excellence in Person-Centered Care by Planetree International during the conference at Orlando Florida, USA. This Person-Centered Care Certification recognises the organisation’s achievement and innovation in the delivery of person-centered care. Saudi German Hospital-Dubai is one of only 134 healthcare organisations worldwide to earn this prestigious award, ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA), on Sunday announced that the first Capesize vessel has sailed from its bauxite mining subsidiary Guinea Alumina Corporation in the Republic of Guinea. The vessel, the MV Berge Rosa operated by shipping line Berge Bulk, is bound for a customer in India laden with 173,000 tonnes of bauxite ore. Capesize vessels are ...

ABU DHABI / WAM President Aleksandr Lukashenko of Belarus visited the Sheikh Zayed Grand Mosque in Abu Dhabi, along with his accompanying delegation, as part of his official visit to the UAE. The Belarusian President, commenced his tour by visiting the ossuary of the late Sheikh Zayed bin Sultan Al Nahyan, and recalled the Founding Father’s wise approach that enriched ...