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

BLOOMBERG  Deutsche Bank AG expects trading revenue to decline as much as 20% this quarter and it is the first major European investment bank to warn of a significant slowdown. Fixed income trading will drop 15% to 20% compared with the bumper quarter a year earlier, when it rose more than 30%, Chief Financial Officer James von Moltke said on ...

BLOOMBERG  The Philippine central bank plans to require the nation’s largest business groups to disclose their foreign-debt levels due to concern their exposure may be bigger than currently estimated. The monetary authority aims to send out requests in the next three to six months as it seeks to head off any potential risk to the Southeast Asian nation’s economy, according ...

DUBAI / WAM The Dubai Supreme Council of Energy (DSCE) organised a workshop to highlight key projects and sustainable energy systems that support the UAE Net Zero by 2050 strategic initiative, the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050. Representatives from the DSCE, the Executive Council, the Carbon Abatement Committee, and the C40 ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) has announced that insiders’ trading prohibition period will start on June 16  pending the full disclosure of the second quarter 2023 financial statements. Subject to Article No (14) of SCA Board of Directors’ Decision No. (2/R) of 2001 concerning the regulations as to Trading, Clearing, Settlement, Transfer of Ownership and Custody ...

DUBAI / WAM Dubai Multi Commodities Centre (DMCC) has announced a major 24 perccent year-to-date increase in the number of Chinese companies setting up in its free zone. The announcement comes as DMCC concludes a series of roadshows in China that took place in the commercial and trade hubs of Shanghai, Guangzhou and Chongqing. This was the first physical DMCC ...

DUBAI / WAM Roboday PitchDay, the first-ever robotics-specific pitch competition in the UAE, concluded successfully, unveiling cutting-edge advancements in robotics technology. The event was held in partnership with Dubai Silicon Oasis (DSO), the Special Economic Zone for Knowledge and Innovation and a member of the Dubai Integrated Economic Zones Authority (Diez). The Roboday PitchDay demonstrated Dubai’s commitment to spearheading the ...

MUSCAT / WAM A delegation from the National Human Rights Institution (NHRI), headed by Maqsoud Kruse, Chairperson of the NHRI, visited the Oman Human Rights Commission in the capital, Muscat. The two-day visit included several high-level meetings and official visits. The delegation was received by Sheikh Abdullah bin Shuwain Al Hosni, Chairman of the Oman Human Rights Commission. The two ...

KUALA LUMPUR / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, met with Anwar Ibrahim, Prime Minister of Malaysia, during his official visit to Kuala Lumpur. During the meeting, Sheikh Abdullah conveyed the greetings and best wishes of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, noting that ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved AED60 million to provide Sharjah Municipality with heavy construction equipment, to execute construction tasks for the housing projects of the Sharjah Housing Programme. His Highness’ generosity will keep pace with the increasing demands on residential lands and housing projects ...

ABU DHABI / WAM The United Arab Emirates and Canada held the fourth session of the joint consular committee in the Canadian capital Ottawa to advance and consolidate cooperation in all joint consular matters to better serve the citizens of the two countries. The meeting was chaired by Faisal Issa Lutfi, Assistant Undersecretary for Consular Affairs at the Ministry of ...