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

  Bloomberg Treasury 10-year futures contracts fell by the most in more than one week after Federal Reserve Chair Janet Yellen said that improvement in the US economy would warrant raising interest rates in the coming months. Ten-year Treasury futures contracts for September delivery slid 15/32, or $4.69 per $1,000 face amount, to 129 1/4 in New York, based on ...

  Bloomberg A Chinese state-run bank has revealed the inner workings of the yuan’s reference rate mechanism, including details on the lenders that provide prices as well as how the system was tweaked following market turmoil in January. The 14 contributors, which must consider the previous day’s yuan closing price, have to take into account movements in baskets of currencies ...

  Bloomberg Even after almost a year of unchanged rates, caution is still a virtue for economists gauging the Russian central bank’s next move. All but two of the 25 economists surveyed by Bloomberg agreed with the International Monetary Fund’s advice to keep the pace of future easing gradual. The rest said they concur with a call by the head ...

  Bloomberg Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. is offering HK$34.5 billion ($4.4 billion) to buy out its Hong Kong-listed property unit in the biggest take-private deal on the exchange ever, as it seeks a higher valuation for the business on mainland stock exchanges. Wanda Group will pay HK$52.80 for each Hong Kong-traded share of Dalian Wanda Commercial ...

  Bloomberg A recovery in the Chinese property market that’s been fuelled by government stimulus may not be sustainable, according to S&P Global Ratings, which has cut ratings on 11 developers this year. “The recovery isn’t all that rosy, in fact it’s rather fragile,” Cindy Huang, director of corporate ratings at S&P, said during a webcast on Monday. “It’s driven ...

  Bloomberg All 391 apartments offered by Lendlease Group at a project in Sydney were snapped up in just four hours on Saturday, indicating demand for inner-city homes remains buoyant despite looming oversupply. More than 400 potential buyers turned up from 8 a.m. in Darling Square, a development on the western edge of Sydney’s central business district, for the apartments ...

  AP Billionaires’ Row. That’s what New York real estate experts have dubbed a lineup of a half-dozen new superluxury skyscrapers overlooking Central Park that are home to some of the world’s most expensive apartments. One penthouse on the 89th and 90th floors of a skyscraper near Carnegie Hall that went for more than $100 million seems almost a bargain ...

  Obagaji / AFP Anyebe Peter has only recently returned to his farm in central Nigeria, nearly three months after attacks by Fulani herdsmen killed seven villagers, destroyed 250 homes and forced survivors to flee. “Nothing is left for us either on our farm or in our village after the attack,” he said in Adagbo, a stone’s throw from the ...

  Yangon / AFP Gripping a monkey-faced chess piece, TheinZaw swipes his hand across the chequerboard and topples an advancing demon, demonstrating an ancient form of the game that Myanmar traditionalists are battling to revive. Sittuyin, as Myanmar’s unique chess is called, is similar to the modern game but has distinctive pieces as well as moves that echo a time ...

  Sunaina Rana/ Emirates Business Aida Karimi, Senior Designer, Di Leonardo Di studio, (a leading interior architectural design firm), believes design is a collaborative process where every team member makes a contribution facilitated by effective communication. Aida leads the creative process by proactively engaging in all aspects of the design and ensuring the quality and consistency to express the values ...