Bloomberg Alibaba Group Holding Ltd. is getting its digital assistant into Mercedes-Benzes, Audis and Volvos in China, enlisting a clutch of global automakers in an effort to popularise the year-old technology for everything from shopping to home security. Daimler AG, Volkswagen AG and Zhejiang Geely Holding Group Co.’s Volvo join some 100 brands Alibaba says it’s partnered with. The Chinese …
Read More »
Bloomberg International Business Machines Corp., a group of four gold and diamond industry companies and an independent laboratory are developing a blockchain network for tracing the provenance of finished pieces of jewelry from mine to store. The TrustChain Initiative, which will run on IBM’s technology, includes precious-metals refiner Asahi Refining, US jewellery retailer Helzberg Diamonds, precious-metals supplier LeachGarner, jewellery-maker the …
Read More »MEXICO CITY / WAM The UAE Ambassador to Mexico Ahmed Hatem Al Menhali met with Mexico’s Secretary of Tourism Enrique de la Madrid Cordero in the country’s Ministry for Tourism located in Mexico City, to discuss a number of issues of common interest. The two sides reviewed ways to enhance relations, namely boosting bilateral tourism between the UAE and Mexico …
Read More »
Dubai / Emirates Business Muslim travellers will spend $157 billion by 2020, driven by millennial travellers and the top outbound market remains Saudi Arabia, which will grow 17 percent over the next three years alone, to reach $27.9 billion. The figures were released during Arabian Travel Market’s Global Halal Tourism Summit 2018, which was held at the Dubai World Trade …
Read More »
Dubai / Emirates Business Blockchain adoption continues to grow across industries world-wide with total spending on blockchain solutions set to grow to $9.7 billion in 2021 according to International Data Corporation (IDC), leading provider of market intelligence, advisory services, and events for the information technology, tele-communications, and consumer technology markets. Startups in the nascent blockchain industry are driving this growth …
Read More »
Bloomberg For generations of investors, Exxon Mobil Corp. has been a cornerstone of fund managers’ portfolios alongside the biggest names in corporate America. Not so much any more. From leading the S&P 500 Index a decade ago, the company has dropped to the ninth-largest in a top 10 now dominated by technology giants. Its rivals Royal Dutch Shell Plc and …
Read More »
Bloomberg Saudi Arabian Oil Co. and Total SA are weighing jointly buying businesses such as Tas’helat Marketing Co to gain access to networks of retail fuel stations in the Gulf kingdom, according to people with knowledge of the matter. The state-owned company, known as Aramco, and the French oil giant are also looking at a range of options from consolidating …
Read More »
Bloomberg Are Berlin’s close energy ties with Moscow paying off? Data from Russia’s Federal Customs Service shows they might be after Germany paid less for natural gas from the world’s largest exporter than most other buyers. Only the UK, which produces most of its own gas, had lower import costs among the biggest offtakers, according to the figures obtained by …
Read More »
Bloomberg The Permian shale play is all about setting records. Now, the region may even become the world’s largest oil patch over the next decade. Output in the basin is forecast to reach 3.18 million barrels a day in May, according to the Energy Information Administration. That’s the highest since the agency began compiling records in 2007. By 2023, the …
Read More »
Bloomberg Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 million barrels a day, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products. The trading arm of the state-run giant known officially as Saudi Arabian Oil Co. currently handles between 3.3 million …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.