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

BLOOMBERG Stocks fluctuated as traders braced for a potentially hawkish message from major central banks meeting to set interest rates. Benchmark Brent crude oil topped $95 a barrel for the first time since November, adding to concerns about inflation. Oil giants TotalEnergies SE, BP Plc and Shell Plc were among the biggest contributors to gains in Europe’s Stoxx 600 benchmark, ...

BLOOMBERG The persistent weakness in Chinese stocks listed in Hong Kong augurs ill for risk-loving retail investors in South Korea, given their exposure to the market through complicated structured products. Equity-linked securities, or ELS, worth 7 trillion won ($5.3 billion) — mostly tied to the Hang Seng China Enterprises Index — were at risk of capital losses as of end-June, ...

ABU DHABI/ AD MEDIA OFFICE His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has launched the new vision and strategy for Abu Dhabi Media Network, during a launch ceremony held today at Abu Dhabi National Theatre. During the event, His Highness endorsed a detailed overview of the new ...

ABU DHABI/ WAM National banks in the UAE are playing a pivotal role in promoting sustainable financing and supporting climate neutrality initiatives, in line with the UAE government’s vision to promote sustainable economic growth and achieve net zero by 2050. The banking sector’s significant role in combating climate change by providing green financing and supporting climate initiatives is summed up ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received H.H. Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Qaiwain. During the meeting at Qasr Al Bahr in Abu Dhabi, they engaged in cordial discussions on various issues related to national and citizens’ affairs, which remain at the core of development ...

NEW YORK/ WAM Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, today opened trading on Wall Street for the day at the New York Stock Exchange (NYSE). In ringing the bell at the heart of the financial world, Dr. Al Jaber had a clear and decisive message: the private sector must play its ...

DUBAI/ GULF TIME Danube Properties’ latest project Oceanz has sold out one of the two towers at launch due to growing investor trust in the developer’s strong property delivery credentials. The Dh2.5 billion Oceanz project was unveiled at an exclusive launch event where selected investors and home buyers from all over the world snapped up the launched units at the ...

BLOOMBERG Charles Schwab Corp said it has been temporarily affected by attrition from clients as it integrates TD Ameritrade, leading to a decline in net new money for the firm last month. The company had $4.9 billion of total core net new assets in August, a 64% decline from July and 89% from a year earlier, the company said. Core ...

BLOOMBERG UBS Group AG’s decision to completely integrate Credit Suisse’s domestic business brings with it a task that’s notorious for running behind schedule and over budget. Just ask Deutsche Bank. The Swiss lender must now figure out how to bring over some 1.5 million client accounts from Credit Suisse into its own IT framework. Depending on the state of the ...

BLOOMBERG China’s central bank ramped up efforts to accelerate an economic recovery, releasing more cash into markets as data show fresh encouraging signs for the country’s growth momentum. The People’s Bank of China (PBOC) added a net 191 billion yuan ($26.3 billion) into the financial system via a one-year policy loan, a day after announcing another cut to lenders’ reserve ...