The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG Netflix Inc is working to bring its nascent video-game service to television sets for the first time, moving beyond smartphones and tablets in a sign of its growing ambitions. Code hidden within Netflix’s app includes references to games played on the TVs, signalling that such a plan is in motion. The code also mentions using phones as video-game controllers. ...
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April, 2023
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16 April
US seeks to avoid duplicating efforts on chips with partners
BLOOMBERG The US is hard at work with partners and allies to streamline global supply chains for semiconductors and restore its leading edge in chip technology, according to a top official overseeing the efforts. “We don’t want a race to the bottom,†Mike Schmidt, director of the Chips Program Office, told Tracy Alloway and Joe Weisenthal on Bloomberg’s “Odd Lots†...
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16 April
Apple makes headway on new Mac laptops as it grapples with slump
BLOOMBERG Apple Inc is ramping up testing of fresh Macs with processors on par with the current M2 chip, making headway on key new machines that could help reverse a sales decline. The Mac maker has begun testing the new machines with third-party apps from the App Store to validate their compatibility, according to developer logs shared with Bloomberg News. ...
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14 April
HSBC’s French retail unit sale ‘less certain’ on interest rate rises
BLOOMBERG HSBC Holdings Plc said rising interest rates have put a deal to sell its French retail banking business into question, a potential blow to its plans to streamline its global operations. The UK lender said in a statement that “significant, unexpected interest rate rises in France†since it signed a memorandum of understanding with Cerberus’s My Money Bank in ...
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14 April
RBC becomes world’s biggest fossil-fuel bank
BLOOMBERG Royal Bank of Canada (RBC) topped JPMorgan Chase & Co last year to become the world’s largest backer of fossil-fuel companies, providing more fodder to critics who say the lender isn’t living up to its climate commitments. Royal Bank provided $42.1 billion of funding to the industry, up 4.2% from a year earlier, surpassing the $39.2 billion provided by ...
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14 April
JPMorgan surges most in almost 11 months on higher NII outlook
BLOOMBERGÂ JPMorgan Chase & Co surged the most in almost 11 months after boosting its guidance for net interest income (NII) and reporting an unexpected increase in deposits. NII soared 49% in the first quarter, a bigger jump than analysts expected, and the bank said it now expects the figure to clock in at about $81 billion for this year. ...
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14 April
Euro now a harbinger for an emerging currency rally: Citi
BLOOMBERG Strength in the euro is emboldening Citigroup Inc strategists to boost their bullish call on emerging-market currencies. The euro area’s brightening outlook and the likelihood of a shallow US recession suggest a “lack of catalysts†for a stronger dollar, the Citigroup team including Dirk Willer and Luis Costa said in a report. The euro climbed to its highest level ...
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14 April
China megabanks plan funding spree to plug capital shortfall
BLOOMBERG China’s megabanks are planning at least 40 billion yuan ($5.8 billion) of bond sales, kicking off a major funding push to comply with global capital requirements by early 2025. Industrial & Commercial Bank of China Ltd (ICBC) and its three closest rivals are planning to tap domestic debt markets to sell a new category of total loss-absorbing capacity (TLAC) bonds ...
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14 April
Sheikh Mohammed bin Rashid issues law on autonomous vehicles in Dubai
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No. (9) of 2023 regulating the operations of autonomous vehicles in Dubai. The new law aims to accelerate Dubai’s smart mobility transformation, attract investments in the sector and provide a regulatory environment that facilitates ...
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14 April
Dubai records AED11.6bn in weekly real estate deals
DUBAI / WAM A total of 2,709 real estate transactions worth AED11.6 billion were conducted during the week ending on April 14, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 226 plots were sold for AED5.76 billion, 2,020 apartments and villas were sold for AED4.43 billion. The top three transactions were an AED3.87 ...
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