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

  ABU DHABI / AGENCIES First Abu Dhabi Bank is “seriously studying” expanding into Saudi Arabia, either through acquisitions or a new license, its chief executive officer told Al Khaleej newspaper. All opportunities for local and foreign acquisitions are open to the bank, Abdulhamid Saeed, said in an interview with the Arabic daily. First Abu Dhabi Bank was created with ...

  SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) has released details of the key themes of the Euromoney Emirates Conference to be held on May 8-9 at the Sheraton Sharjah Hotel, under the theme ‘Finance and Investment for an Innovative Economy’. Held under the patronage of Sheikh Sultan bin Mohamad bin Sultan Al Qasimi, Crown Prince and Deputy ...

Dubai / WAM Dubai International Financial Centre (DIFC) signed a Memorandum of Understanding with Dubai Economy to allow companies operating within DIFC to obtain licenses to operate in mainland Dubai. Essa Kazim, Governor of DIFC, and Sami Al Qamzi, Director-General of Dubai Economy, signed the Memorandum of Understanding, which aims to increases levels of governance, compliance and transparency for businesses ...

  Dubai / Emirates Business Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a high-level conference to discuss the implications of value-added tax (VAT) on businesses in the UAE. The tax will kick in on January 1, 2018.The event convened more than 200 senior bankers, management consultants and experts ...

  Donald Trump’s tax plan, if adopted, has been seen as an unmitigated windfall for corporate America. Cutting the corporate tax rate to 15 percent from its current effective rate of around 28 percent could generate nearly $2 trillion in additional income for the companies in the S&P 500 index alone over a decade. But a surprising number of companies ...

  Germany’s No. 1 lender is leaner, more profitable and more financially robust than a year ago. That’s good news for shareholders who have suffered through two years of losses, and taxpayers nervous about the health of the country’s banking system. The bad news is that revenue is still underwhelming. Despite a blowout quarter for most of Wall Street’s debt-trading ...

  In a series of identical and unsurprising letters, the U.S. Justice Department has told local officials to be sure to cooperate with federal authorities on immigration issues. The federal government should expect nothing less. What accompanied the letters, however, was more disturbing. The letters, signed by acting assistant attorney general Alan Hanson, were sent last week to “alert” various ...

  The European Union set the scene for UK divorce process as the leaders of bloc’s remaining 27 countries unanimously signed off on their negotiating guidelines for the Brexit talks. It formally opens the way for discussions that will culminate with the UK leaving the bloc in March 2019 with or without a deal. Although the talks on the terms ...

  From 19th-century shop girls to 20th-century buyers, modern retailing has been a female-friendly work environment. Just look at the photos today’s department stores use to illustrate their commitments to diversity. Women typically outnumber men at least two-to-one, a ratio that reflects reality. At Nordstrom, for example, 70 percent of all employees and 69 percent of managers are women. So ...

  This is a busy time for major central banks. The Bank of Japan and European Central Bank met last week, the Reserve Bank of Australia and the Federal Reserve meet this week, and the Bank of England meets next week. Although most major central banks are deciding not to make big changes to monetary policies, global interest-rate expectations among ...