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

BLOOMBERG The SIX Swiss Exchange is investigating the technical glitch that caused the country’s worst stock market outage in more than decade. The Zurich-based exchange said it will release findings from its investigation in a couple of days. “It was a technical issue,” said Juerg Schneider, the Swiss exchange’s head of media relations, without giving details about the specific nature ...

BLOOMBERG Treasury yields fell amid market expectations that the Federal Reserve will keep its interest rates steady for the first time in 15 months to evaluate whether or not further tightening is needed. Bonds reversed course on Wednesday, with yields dropping across the curve, after another inflation reading showed signs of cooling. The market for wagers on the outlook for ...

BLOOMBERG  The European Central Bank (ECB) is about to test the resilience of the continent’s banking industry by making lenders repay about half a trillion euros in cheap pandemic-era loans — in one go. While the €4 trillion or so of excess liquidity sloshing around the financial system should limit the overall impact of the giant repayment, individual firms and ...

BLOOMBERG  UBS Group AG plans to retain a few hundred Credit Suisse private bankers in the Asia Pacific region, bringing its total to more than 1,200 in one of the few areas spared from deep cuts, according to people familiar with the matter. The move is being driven by global wealth chief Iqbal Khan, who is betting Asia will continue ...

BLOOMBERG  Toyota Motor Corp posted its biggest two-day gain in three years, fuelled by an aggressive messaging campaign around the Japanese carmaker’s electric-vehicle strategy, a drama-free shareholders’ meeting and a broader global stock rally. Shares in the world’s largest carmaker are up 12%, their biggest jump since March of 2020, with the reappointment of Chairman Akio Toyoda adding to the ...

BLOOMBERG  Arm Ltd, the chip designer backed by SoftBank Group Corp, is in talks with potential strategic investors including Intel Corp to anchor what will be one of the largest initial public offerings of the year, people familiar with the matter said. UK-based Arm has held talks with other companies about participating in the IPO, according to the people, who ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan welcomed a delegation of accomplished graduates from the scholarship programme organised by the Ministry of Education. The meeting took place at Qasr Al-Bahr, where His Highness expressed his congratulations to the graduates for their outstanding achievements and commended their dedication and commitment to excellence throughout their academic journey. His ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan received today at Qasr Al-Bahr the Iraqi engineer, Sinan Al-Awsi, who is currently residing in the UAE. Recognizing Al-Awsi’s exemplary community initiative of planting and nurturing trees on one of Abu Dhabi’s streets, His Highness applauded his efforts and expressed appreciation for such benevolent initiatives. His Highness reiterated that ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Tuesday met with Mahamat Idriss Deby Itno, the Transitional President of the Republic of Chad, to discuss bilateral relation and opportunities for further cooperation. The two leaders discussed various regional and international issues, and stated their shared belief in the importance of dialogue to promote stability and ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a written letter to Ranil Wickremesinghe, President of Sri Lanka, which included an invitation to the Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which will be held in the UAE this November. The letter was delivered by Khaled Nasser ...