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

  Abu Dhabi / Emirates Business Abu Dhabi Financial Group (ADFG) and GFH Financial Group (GFH) on Sunday announced the appointment of Talal Al Zain as Chief Executive Officer of the newly established ADCorp, the first Islamic financial institution at the Abu Dhabi Global Market (ADGM). ADCorp is incorporated and subject to final regulatory approval, will be regulated by the ...

  Abu Dhabi / Emirates Business The Ministry of Finance (MoF), in collaboration with the International Monetary Fund (IMF), recently held a workshop on IMF Fiscal Monitor report which is published twice a year, on its premises in Dubai. The report analyses the latest public finance developments on an international level, the impact of the recession on several countries, in ...

  Dubai / WAM The Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (Dubai Tourism), will launch a new retail initiative, the National Day Sale, on the joyous occasion of the country’s 45th National Day. The National Day Sale, from December 1-3, will feature participating malls and retail outlets offering shoppers mega discounts ...

  DUBAI / Reuters Shares of three of Abu Dhabi’s top lenders pulled back on Sunday after the banks denied they were in merger talks, while Saudi shares were hit by profit taking. Egypt’s stock market gained as foreign funds continued to accumulate blue chips. Abu Dhabi’s index dropped 1.7 percent as Union National Bank retreated 5.2 percent and Abu ...

  Bloomberg The global stock market’s biggest comeback story of 2016 isn’t over yet. So say Citigroup Inc., AllianceBernstein and Bordier & Cie, who all see further gains for Japanese shares after the Nikkei 225 Stock Average climbed more than 20 percent from this year’s low. The $5 trillion market has outperformed all its developed-nation peers since late June, buoyed ...

  Washington / AFP With his shock victory in the race for the White House, President-elect Donald Trump at last is in position to deliver on one of his most strident campaign promises: to repeal Obamacare. With fellow Republicans in control of the US Congress, Trump has the means and ostensibly a mandate from his party to gut the law. But ...

  Seoul / AFP South Korean prosecutors said on Sunday that President Park Geun-Hye colluded with her close confidante in a corruption and influence-peddling scandal that has sparked massive nationwide protests and calls for her impeachment. Park’s longtime friend Choi Soon-Sil was charged on Sunday with coercion and abuse of power, as was one of the president’s former aides. Another presidential ...

  Paris / AFP France’s right-wing presidential hopefuls kick off their nominating contest on Sunday as a sudden tightening of the race cast doubt on ex-president Nicolas Sarkozy’s chances of regaining the Elysee Palace. A late surge by the third-placed Francois Fillon, who was prime minister under Sarkozy, catapulted him into pole position for the first-round primary vote. A voter survey ...

  Berlin / AFP German Chancellor Angela Merkel told her party on Sunday she will seek re-election next year, a move likely to be welcomed in many capitals as a sign of stability following poll triumphs for Brexit and Donald Trump. After months of feverish speculation, Merkel said at a meeting of her conservative Christian Democrats (CDU) that she would run ...

  Istanbul / AFP President Recep Tayyip Erdogan says Turkey should not be “fixated” on joining the EU and has reiterated the idea of joining Russia and China in a Eurasian security group, local media reported on Sunday. His comments come as Turkey’s decades-long hopes of joining the European Union have reached a nadir, driven by the aftermath of the ...