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

DUBAI / WAM The Dubai Chamber of Digital Economy, a division of Dubai Chambers, has completed a successful roadshow across Hong Kong, the Philippines, South Korea, Malaysia, Singapore, and Japan. The purpose of the roadshow was to identify promising startups to participate in the upcoming Expand North Star event, scheduled to take place in Dubai from October 15-18. During the ...

BLOOMBERG The Japanese startup Gitai, fresh off raising a new round of funding, is expanding in the US as it seeks to create a robot workforce that will reduce the costs and risks of operating in space. While Elon Musk and Jeff Bezos are working on rockets and the challenges of getting to space, Gitai Chief Executive Officer Sho Nakanose ...

BLOOMBERG Thailand must bolster its revenue collection in the long term to meet growing public spending needs stemming from an aging population, according to the World Bank. Government expenditure on pensions, healthcare, education and climate adaptation will need to increase and this must be achieved without constraining economic growth and keeping public debt under control, the bank said in a ...

BLOOMBERG The trade ministers of China and Japan exchanged protests over chip export controls and the detention of Japanese citizens at a meeting in Detroit, according to statements from both governments. Chinese Commerce Minister Wang Wentao complained about Japan’s chip export curbs and a Group of Seven “attack” on China during a meeting with Japanese Trade Minister Yasutoshi Nishimura in ...

BLOOMBERG South Korea will avoid capitalising on China’s ban on a US chipmaker, seeing the move by Beijing as an attempt to drive a wedge between Seoul and Washington, according to a person familiar with the situation. The South Korean government won’t encourage its memory-chip firms to grab market share in China lost by Micron Technology Inc, which has been ...

BLOOMBERG  Morgan Stanley is letting go of at least six managing directors, including some key China bankers, as part of broader job cuts in Asia where dealmaking has been stymied by growing China-US tensions and tepid economic growth. Clarence Kwok, who’s focussed on mergers and acquisitions in China, Julia Xiao in corporate finance, and Tony Yin on the technology coverage ...

BLOOMBERG  The Bank of Japan (BOJ) will gradually build a case for a major overhaul of its stimulus framework in the second-half of next year, using the results of a review to support its move, according to Bloomberg Economics (BE). Governor Kazuo Ueda is aware that the current yield curve control stimulus framework is unsustainable, as it distorts prices, lacks ...

BLOOMBERG  Mitsubishi UFJ Financial Group Inc raised 570 billion yen ($4 billion) worth of debt in what is Japan’s biggest yen bond deal this year. With yields rising, the lender offered a coupon of 2.127% on the perpetual non-callable 10-year and one-month Additional Tier 1 (AT1) bonds, underwriter Mitsubishi UFJ Morgan Stanley Securities Co said. That’s the highest coupon on ...

BLOOMBERG  Euro-area lenders count on financial firms from outside of banking for about 14% of their funding — underlining how the industry is exposed to potential turmoil in sectors that aren’t subject to strict regulatory oversight. Unsecured deposits make up the largest part of those liabilities, followed by debt securities and repo funding, European Central Bank (ECB) researchers said in ...

BLOOMBERG  Deutsche Bank AG sees the current slump in mergers and acquisitions (M&A) as an opening to boost ranks and take back some market share from Wall Street rivals. The German giant has signed on M&A veterans from peers including Bank of America Corp, Credit Suisse Group AG, Lazard Ltd and Citigroup Inc over the past couple of months and ...