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

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) welcomed the secondary listing of a $750 million Green Bond by Abu Dhabi Future Energy Company (Masdar), the global clean energy powerhouse based in Abu Dhabi. The ten-year bond, which was 5.6 times oversubscribed, carries a 4.875 percent coupon rate and will mature in July 2033. It aims to fund new ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Irakli Garibashvili, Prime Minister of Georgia, on Tuesday witnessed the signing of a Comprehensive Economic Partnership Agreement (Cepa) between the UAE and Georgia. The CEPA aims to double non-oil trade from $481 million to $1.5 billion ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, said that the International Council on Archives (ICA) Congress Abu Dhabi 2023 is a platform that provides an opportunity for specialists, experts, and officials in the archive sector to engage in fruitful discourse on various subjects. “We ...

BLOOMBERG Exxon Mobil Corp is in talks to acquire Pioneer Natural Resources Co, according to a person familiar with the matter, nearing its largest takeover in more than two decades as the energy giant seeks to become the dominant US producer of shale oil. An agreement could be worth as much as $60 billion and may be completed in the ...

BLOOMBERG Shell Plc said its earnings from gas trading rebounded in the third quarter from the dip seen in the prior period. After bumper profits in 2022 resulting from the severe energy market volatility caused by Russia’s invasion of Ukraine, the performance of oil majors’ trading divisions has shifted back toward historical norms this year. Even so, Europe’s appetite for ...

BLOOMBERG European shares rallied after dovish comments by Federal Reserve officials and the prospect of more economic stimulus by China brought some risk appetite back to markets as investors continue to evaluate the potential impact of the Israel-Hamas conflict. Treasuries jumped, catching up with the global government bond rally, when cash trading in the US was closed. The yield on ...

BLOOMBERG India’s property stocks advanced to the highest in 15 years, signalling a potential breakout, as robust sales added to the optimism over the central bank’s decision to keep interest rates unchanged. The S&P BSE Realty Index rallied as much as 4.8% Tuesday to its highest level since September 2008, as strong second-quarter sales reported by several developers lift expectations ...

BLOOMBERG Deutsche Bank AG’s sales of foreign-exchange derivatives to small companies in Spain are being examined by securities regulator CNMV, adding to scrutiny of the lender over the matter. The focus of the assessment is whether the sales complied with rules that effectively ban marketing complex derivatives to inexperienced buyers, a spokesman for the regulator said. He declined to provide ...

BLOOMBERG The Bank of England (BOE) warned that house prices are likely to fall further in many economies and flagged significant downside risks in the Chinese property market. A further deterioration in activity and prices could pose risks to the Chinese economy and financial sector, which could spill over into the UK and other jurisdictions, the central bank said in ...

DUBAI/WAM Emirates Development Bank (EDB) has announced that since the launch of its new strategy in April 2021, the bank has approved over AED 721 million financial support for food security projects. EDB has allocated AED30 billion to support 13,500 SMEs in five priority sectors: manufacturing, renewables, technology, healthcare, and food security. The announcement was made today as EDB concluded ...