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

Bloomberg Barclays Plc and four former executives were charged with conspiracy to commit fraud regarding the bank’s 2008 capital raising from Qatar as it sought to avoid a bailout during one of the most turbulent periods in financial history. The Serious Fraud Office said on Tuesday that former Chief Executive Officer John Varley, former chairman of investment banking for the ...

Bubai / Emirates Business Mashreq, one of the leading financial institutions in the UAE, proudly announces that it has won the Gallup Great Workplace Award in 2017, thus winning this award for the 4th consecutive year. This is an exceptional milestone win, as no other bank in the region has achieved this status to date. This win places Mashreq in ...

Bloomberg People’s Bank of China (PBOC) Governor Zhou Xiaochuan said China should forge ahead to further open the financial services industry, in a signal the country may allow foreign firms greater access to the market. Protecting domestic firms from outside competition makes them lazy, which weakens them and may lead to financial instability, Zhou said on Tuesday at the Lujiazui ...

Bloomberg Bank and insurance shares jumped in Saudi Arabia hours before the country learns whether it may begin the formal process to become classified as an emerging market by MSCI Inc., a development that might boost its stock market for months. The banking sector of the Tadawul All Share index leaped 4 percent and closed at the highest level this ...

Bloomberg Goldman Sachs Group Inc. is shifting personnel away from London as formal negotiations on the U.K.’s exit from the European Union which began on Monday, according to the bank’s regional head, Richard Gnodde. “We started to shift resources to Frankfurt and other European cities,” Gnodde told Frankfurter Allgemeine Zeitung in an interview. Goldman Sachs will “very probably” at least ...

Abu Dhabi / WAM The National Central Cooling Company, Tabreed, the leading regional UAE-based district cooling utility company, has announced that Engie is making an investment of approximately AED 2.8 billion to become a significant shareholder in the utility company. Headquartered in France, Engie is a multinational energy leader and expert operator in the business of electricity, natural gas and ...

DUBAI / WAM The UAE Government Leaders Programme (UAEGLP) launched a new category ‘UAE Youth’ Programme, in collaboration with the Emirates Youth Council, to empower and prepare competent young nationals to lead the country’s future across all strategic sectors. The new category is the fourth to be added to the wider UAE Government Leaders Programme, which also includes the Strategic ...

Abu Dhabi / WAM TechPreneur Africa, a social impact firm which focusses on harnessing innovation and entrepreneurship to achieve real economic impact across Africa, has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, to foster and support the growth and activities of FinTech in the Middle East and ...

Abu Dhabi / WAM With a total traded volume of 155.5bn securities, the UAE capital markets topped list of GCC most liquid markets in 2016, with Saudi Stock Exchange coming second with a total of 67.7bn securities. The UAE financial markets came second only to Saudi Arabia in terms of market value, which amounted in 2016 to AED817bn, US$222bn, with ...

SHARJAH / WAM Sharjah Economic Development Department (SEDD) has launched a consultancy service to develop the industrial sector and streamline its procedures in the emirate. The service has been developed due to the fact that Sharjah has an excellent investment environment, especially in the industrial sector, in addition to its strategic location and its ownership of a large number of ...