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

Bloomberg The speed of the instant payment highway has regulators in Norway thinking about the guardrails. The central bank is stepping up efforts to improve the country’s banking infrastructure as the spreading use of instant payments drives credit risk higher at banks. The problem lies in the fact that customers get their money before it’s actually transferred to their banks. ...

Bloomberg Investors have seen the peak of the US 10-year Treasury yield this year as brewing trade tensions and a stronger dollar curb its advance, according to Morgan Stanley. “3.12 percent was it,” Morgan Stanley global head of interest-rate strategy Matthew Hornbach wrote in a note to clients. “We suggest investors buy 10-year Treasury notes outright,” he said, with the ...

Bloomberg The Commonwealth Bank of Australia’s new Chief Executive Officer Matt Comyn has embarked on a massive overhaul of the scandal-plagued lender, announcing plans to spin off its wealth management and mortgage-broking businesses. The asset management, wealth advisory and Aussie Home Loans units will be placed into a new company known as CFS Group to be listed on the Australian ...

Bloomberg When China allowed banks to use 700 billion yuan ($108 billion) more of their deposits, they were very clear on where the money should go. One sector not mentioned was the overheating property market. Money freed up from previous cuts may have ended up flowing into the housing market, and the design of this new policy seems aimed at ...

Bloomberg Central banks should accept that reversing crisis-era monetary policy will be “bumpy” and shouldn’t delay doing so just for fear of upsetting financial markets, according to the Bank for International Settlements. Claudio Borio, who heads the institution’s economics department, urged policy makers to press ahead, both to address financial stability risks and to insulate their economies against the next ...

Abu Dhabi / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan issued a number of Federal Decrees on the ratification of international and bilateral agreements between the UAE and a number of friendly countries, as well as establishment of UAE Embassy in the Maldives. The Decrees were published in the latest issue of the Official Gazette. Federal Decree No. ...

CALIFORNIA / WAM A delegation led by Saeed Mohammed Al Tayer, MD and CEO of the Dubai Electricity and Water Authority (Dewa), has visited the US. The visit is part of Dewa’s efforts to expand cooperation with international universities, companies and research centres, and review best practices and the latest research in a variety of areas, including renewable energy, water, ...

DUBAI / Emirates Business The food and beverage (F&B) sector based in Jebel Ali Free Zone (Jafza), the UAE’s premier regional business and logistics hub, showed significant growth in 2017 reflecting continuing confidence in the industry in the UAE. The sector’s volume of trade rose to 3.5 million metric tonnes, valued at AED11.1 billion which accounted for 17.85 percent and ...

ABU DHABI / WAM The Abu Dhabi City Municipality (ADM) launched a new service, as part of the Unified Portal Services App of the Department of Urban Planning and Municipalities, named RASID. The service aims to engage community members in identifying eyesores that detract from the appearance of public facilities, cities, and streets, as well as public and private facilities. ...

ABU DHABI / WAM The capital value of local public shareholding companies registered at the Securities and Commodities Authority (SCA) reached AED410.36 billion at the end of 2017, according to the SCA’s latest statistics. In 2017, the SCA registered five public shareholding companies, including two public companies and three private companies, with their total capital value reaching AED74.4 billion. Abu ...