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

  Bloomberg Bank Leumi Le-Israel Ltd. expects to end its five-year dividend drought in early 2017 as it’s “very close” to clearing the main regulatory hurdle standing in its way, Chief Executive Officer Rakefet Russak-Aminoach said. The Bank of Israel requires lenders to meet a Tier 1 capital ratio of 10.25 percent by Jan. 1. The Tier 1 ratio is ...

  Bloomberg Global banking regulators are sticking to their guns on capital standards in the face of intense European pressure to soften planned rule-changes. The Basel Committee on Banking Supervision will wrap up work on the post-crisis capital framework on schedule by the end of the year, William Coen, the regulator’s secretary general, said. Key elements criticized by European Union ...

  ABU DHABI / Emirates Business The current low oil price environment has provided robust opportunities in the Middle Eastern project logistics and breakbulk sector — a critical part of the supply chain supporting the fast-growing regional infrastructure project sector, as discussed at the Breakbulk Middle East launch press conference on Sunday. At the press conference, Breakbulk officially announced that ...

  DUBAI / Emirates Business As Middle East organizations embark on their digital transformation journeys, Kodak Alaris intends to highlight how it can solve their information management challenges through its participation at GITEX 2016. Under the theme ‘Digitize your City’, the company will showcase its latest solutions for reigning in Data Chaos to enable core business functions — from marketing ...

  ABU DHABI / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, recently announced its celebration of Customer Service Week throughout its operations in 31 countries across 5 continents. It is being organised from October 9-13 in the Gulf Cooperation Council (GCC); and from October 10-14 in Africa, America, Asia-Pacific, Europe and other Middle ...

  Dubai / Emirates Business Dulsco, a regional leader in human resource and waste management solutions stated that the focus by GCC Governments on infrastructure and other sustainability projects will drive the next phase of growth in its core business areas. As per reports published during the recently concluded Big 5 show, over AED 190 billion is being directed towards ...

  Bloomberg Egypt has “almost completed” the actions required for the International Monetary Fund’s board to review its $12 billion loan accord, but some measures related to the exchange rate and subsidies are still pending, Managing Director Christine Lagarde said on Saturday. The most populous Arab country is relying on the deal to restore investor confidence and ease a dollar ...

  BAGHDAD/ Reuters Iraq’s oil minister has urged oil and natural gas producers operating in the country to continue increasing output next year, the oil ministry said in a statement on Sunday. Jabar al-Luaibi’s comments came as OPEC nations are trying to implement an agreement to curb oil output for the first time since the 2008 financial crisis, in order ...

  DUBAI / Reuters Saudi Arabia’s Almarai, the Gulf’s largest dairy company, reported a 10 percent rise in third-quarter net profit on Sunday, broadly meeting analysts’ forecasts with the help of cost controls it said would remain a priority. Saudi retailers will in coming quarters have to weather the impact of austerity measures imposed to curb a huge state budget ...

  Bloomberg Qatar’s royal family is considering increasing its stake in Deutsche Bank AG to as much as 25 percent, according to people with knowledge of the matter. Sheikh Hamad Bin Jassim Bin Jabr Al Thani, former Prime Minister of the Gulf State, and the former Emir of the country, Sheikh Hamad bin Khalifa Al Thani are exploring increasing their ...