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

BLOOMBERG  China’s central bank surprised most economists and market participants by cutting a short-term policy interest rate, a sign that officials are increasingly concerned about faltering growth and are stepping up stimulus to boost the recovery. The People’s Bank of China (PBOC) lowered the seven-day reverse repurchase rate by 10 basis points to 1.9% on Tuesday, the first reduction in ...

BLOOMBERG  India’s disinflation process is “likely to be slow and protracted” and the central bank may meet its 4% target only in the medium term, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. “The cumulative impact of our monetary policy actions over the last one year is still unfolding and yet to materialise fully,” Governor Das said ...

BLOOMBERG  Indians will probably sell a record amount of used gold jewelry this year to take advantage of a surge in domestic prices of the precious metal, according to the World Gold Council. If local prices continue to rise, recycled bullion sales are expected to jump more than 20% and match the previous high of 119.5 tons set in 2019, ...

BLOOMBERG  Banco Santander SA has closed down its UK-based equity research team as it shifts analysis of companies to its headquarters outside Madrid, according to two people familiar with the matter. Four London-based analysts have left the lender, which had offered them the option of relocating to Spain, according to the people, who can’t be named because the matter isn’t ...

BLOOMBERG  UBS Group AG will host a major conference in Hong Kong next year to carry on the tradition of Credit Suisse Group AG after acquiring its former Swiss rival earlier this week. The event will be held from May 27 to 29 next year in Hong Kong, according to Tim Wannenmacher, co-head of global markets for Asia-Pacific at UBS. ...

BLOOMBERG  Shell Plc sees a long-term role for natural gas in the world’s energy mix and aims to expand in key growth markets as Chief Executive Officer Wael Sawan revises the company’s strategy. Liquefied natural gas (LNG) teams are being urged to do more business in China and India, and the company is providing higher bonuses for deals struck in ...

BLOOMBERG  Severe power shortages in northern Vietnam are beginning to ease, allowing manufacturers to extend operating hours after blackouts curtailed production. Thousands of factories in the region, which houses plants owned by Samsung Electronics Co and suppliers to iPhone-maker Apple Inc, have gone without sufficient power since nationwide outages began last month. Northern provinces, including Bac Giang, have been worst ...

BLOOMBERG  The SoftBank-backed solar power startup Enpal said that it has raised €430 million ($464 million) in debt funding to finance its leasing business. DWS and Phoenix Life Limited joined existing investors BlackRock and ING in the refinancing round, according to the company. BlackRock upped its commitment in this round by €100 million, and ING increased its own by an ...

SAUDI ARABIA /GULF TIME TCR Arabia is a company that specializes in engineering services specifically in the field of Material Testing, Advanced Non-Destructive Testing and Metallurgical investigation. Founded in 2007 as a joint venture between TCR Engineering Services (India) and GAS Arabian Service (Saudi Arabia). The company is based in Saudi Arabia and has rapidly established a reputation for reliability ...

BLOOMBERG Kenya’s crippling dollar shortage is driving away investors, turning a once-booming stock market into the worst in the world. Nairobi’s All-Share Index has plunged 19% this year, the steepest drop among the almost 100 global indexes tracked by Bloomberg. The nation is in the grip of a foreign-exchange crunch, with major companies and investment firms facing weeks of delay ...