DUBAI / WAM The UAE’s non-oil foreign trade reached a record AED1.239 trillion in H1 2023, representing a growth of 14.4 percent compared to the same period in 2022 – and 3 percent more than H2 2022. The figures, just released by the Ministry of Economy, underline the continued upward trajectory of the nation’s foreign trade, which has achieved quarter-on-quarter …
Read More »
BLOOMBERG European bonds and stocks fell after the latest round of price data suggested inflation may not yet be fully on the retreat in the euro region. Germany’s 10-year yield jumped as much as six basis points to 2.57% after reports showed inflation accelerated in four of six German states in August, ahead of figures for the overall German economy, …
Read More »
BLOOMBERG The Hong Kong dollar is poised for its biggest monthly retreat since 1985 as interest rates in the city drop and pessimism towards China’s economy weighs on the stock market. The currency has declined 0.6% in August — or almost half the maximum swing possible under its trading band with the greenback — to approach the weak end of …
Read More »
DUBAI/GULF TIME Get ready for an epic celebration as IMG Worlds of Adventure, 1.5 million square feet largest indoor theme park in Dubai, is all set to mark its 7th anniversary in Mega style! From August 31 to September 03, guests of all ages are invited to join in the exuberant festivities, where thrilling entertainment, mesmerizing decorations, and delightful surprises …
Read More »
AMDJARASS / WAM The UAE-funded field hospital in the Chadian city of Amdjarass continues supporting Sudanese refugees in the Republic of Chad by offering medical services to various segments of Sudanese individuals and local community members. Since its inauguration, the hospital has received a total of 6,110 cases, and the medical team has successfully performed 54 surgeries. The UAE humanitarian …
Read More »
DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), inspected the work progress at the 950MW 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park. This phase uses the Independent Power Producer (IPP) model with investments up to AED 15.78 billion. It is set to provide clean energy for approximately …
Read More »
DUBAI / WAM DP World and Türkiye’s Evyap Group have agreed to form a strategic equity partnership between DP World Yarimca Port and Evyap Port. The partnership aims at enhancing and growing trade infrastructure by focusing on improving container port facilities and enhancing efficiencies in the key Marmara gateway market. Following the completion of the transaction, DP World will own …
Read More »
ABU DHABI / WAM Abu Dhabi University (ADU) has ranked the 13th best University globally, among the Top 20 Small Universities in the World, out of 81 academic institutions across 33 locations, by the Times Higher Education World University Rankings 2023 (THE). The ranking aligns with the university’s continuous endeavours to introduce competitive and accredited programmes that align with the …
Read More »
BLOOMBERG Xpeng Inc’s shares soared after it agreed to buy Didi Global Inc’s smart-car development arm in a deal that both eliminates a potential competitor in the crowded electric-vehicle market and gives it a tech-savvy partner in a new venture. The HK$5.84 billion ($744 million) all-stock deal will see Didi emerge with a 3.25% stake in Xpeng, according to an …
Read More »
BLOOMBERG The electronics arm of electric-vehicle maker BYD Co agreed to buy Jabil Inc’s manufacturing business in China for 15.8 billion yuan ($2.2 billion), expanding its production base in the world’s largest mobile arena. BYD Electronic International Co, a non-wholly owned unit of one of China’s biggest EV makers, is taking over the US company’s product manufacturing business located in …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.