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

  Bloomberg Mexico’s new $20 billion plan to support the peso could prove a gift to some of the country’s biggest companies. The central bank will hold its first $1 billion auction of non-deliverable forward contracts on Monday, offering a way for businesses with expenses in dollars but revenue in local currency to hedge against further declines in the peso. ...

  Bloomberg Goldman Sachs Group Inc.’s dealmakers endured job cuts and a tough bonus season. Then the penny pinchers turned to their beloved phones. In a push to cut costs and shift employees from BlackBerry devices to personal mobile phones, the firm is imposing a new policy around the world for reimbursing data and calling expenses, according to an internal ...

  Bloomberg Wells Fargo & Co. is facing a Justice Department probe that seeks to learn if executives hid details of a bogus account scandal from the board or regulators, according to Reuters. The investigation may lead to criminal charges for individual executives, the news service reported, citing people familiar with the matter who it didn’t identify. The Justice Department ...

  Bloomberg Credit Suisse Group AG’s need to backstop growth and its shrinking pile of unwanted assets complicate its ability to maintain the pace of capital improvement, Chief Financial Officer David Mathers said. The bank entered 2017 with a common equity Tier 1 ratio of 11.6 percent, up from 11.4 percent at the start of 2016 — this after a ...

  BANGKOK / AP The 49-story Bangkok high-rise was supposed to feature luxury condos for hundreds of newly affluent Thai families, but it was abandoned unfinished when the Asian financial crisis struck in 1997. Now called the “Ghost Tower,” it’s a monument to mistakes made and an object of curiosity to a steady stream of visitors. “Sathorn Unique,” named after ...

  NEW YORK / AP Melons going splat in slow motion. Drawn-as-you-go animation about machines. A behind-the-scenes look at winery operations. Not the usual viral videos, but small business owners have realized offering something to watch and having a sense of humor about themselves can help grab customers’ attention. In more than a hundred videos he’s posted on YouTube, Tom ...

  DUBAI / WAM Dubai Holding, the global investment holding company, has signed a Memorandum of Understanding (MoU) with Dubai Municipality to develop the largest public park in Dubai. The move follows the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. Stretching across 1,430,000 sqm in DubaiLand, ...

  Dublin / WAM President of Ireland Michael Higgins, received at the presidential palace in Dublin, Dr. Amal Abdullah Al Qubaisi, Speaker of the Federal National Council (FNC) and her accompanying delegation. The FNC delegation included Abdul Aziz Abdullah Al Zaabi, Second Deputy Speaker of the FNC, Dr Mohammed Abdullah Al Mahrazi, Dr. Saeed Abdullah Al Mutawa, Azza Sulaiman bin Suleiman, ...

  Geneva / WAM The UAE has stressed its interest in caring for those with disabilities through development of effective policies aimed at promoting community empowerment, enacting laws and taking measures that help eliminate all forms of discrimination. It emphasised the Article 5 of the Convention on the Rights of Persons with Disabilities given the obligations the States undertake under this ...

  DUBAI / Emirates Business Proud recipients of two major awards at the Gulfood 2017, the Albatha Group’s  division – Global Food Industries – was recognised for their exemplary efforts toward healthy innovation. Held at the Dubai World Trade Centre, the 22nd edition of the world’s largest annual food industry exhibition convened over 5,000 local, regional and international exhibitors. Global ...