The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Crypto giant Binance Holdings Ltd is considering ending relationships with US business partners as regulators turn up the heat. The company, which operates the world’s largest crypto exchange, is weighing the retreat after its relationships with a key banking partner and stablecoin issuer ran into trouble amid intense scrutiny from authorities, according to a person familiar with the ...
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February, 2023
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19 February
Chinese banks to overhaul risk exposure rules to aid rebound
Bloomberg China plans to adopt more differentiated risk weighting measures to limit banks’ lending to toxic investments that are exposed to higher default threats, including those to problematic house developers. The China Banking and Insurance Regulatory Commission proposed to align its banking prudential regulations to global standards in a draft amendment, and said it would classify all its commercial ...
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19 February
Car touchscreens are going out of control
Bloomberg As recently as 10 years ago, touch screens in cars were tiny — if they were there at all. Most were grudgingly added by automakers in anticipation of a US mandate on backup cameras, or an early response to Elon Musk, who dropped a 17-inch monitor into a Tesla in 2012. Destinations were largely DIY, mapped on a ...
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19 February
Instagram rolls out new feature to deliver posts directly to followers
Bloomberg Instagram is rolling out a new feature called broadcast channels that lets users send text or photo updates directly to followers, the latest attempt by the Meta Platforms Inc. division to fine-tune the service. Meta Chief Executive Officer Mark Zuckerberg announced the news on his Instagram account by creating a channel of his own. The idea is to ...
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19 February
Google’s $168bn in online ad business at risk in court case
Bloomberg The US Supreme Court is poised to hear a case that could spell danger for the internet’s most lucrative business: online advertising. The case, Gonzalez v. Google, will be argued on Tuesday and centers on whether internet companies are liable for the content their algorithms recommend to users. The tech industry says it’s protected by a legal shield ...
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19 February
Tesla recalls 362,000 cars over crash risk
Bloomberg Tesla Inc. is recalling hundreds of thousands of vehicles after US authorities said its automated-driving technology could increase the risk of a crash. The automaker’s so-called Full Self-Driving Beta system “may allow the vehicle to act unsafe around intersections,†including travelling straight through from a turn lane and proceeding through steady-yellow traffic lights, according to a filing with ...
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18 February
UAE continues to send relief to quake victims in Türkiye, Syria
Abu Dhabi / WAM For the past 12 days, the UAE has been providing assistance to the victims of the earthquakes in Türkiye and Syria as part of the ‘Gallant Knight/2’ operation. To date, 97 cargo planes have been sent to both countries, with 58 flights carrying 1918 tonnes of relief materials to Syria, and 39 flights carrying 706 tonnes ...
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18 February
Adnoc aims to list 4% stake of its gas business on ADX
Abu Dhabi / WAM Adnoc has announced its intention to float a 4% minority stake in Adnoc Gas, its world-class gas processing, operations and marketing company, on the Abu Dhabi Securities Exchange (ADX). The offering is expected to open on February 23, subject to regulatory approvals and other relevant considerations. Adnoc Gas (the company), formed in January 2023 through ...
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18 February
UAE leaders wish President of Kosovo on Independence Day
Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Vjosa Osmani of Kosovo, on the occasion of her country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also dispatched similar messages to the ...
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18 February
Gross subscriptions written for Takaful insurance hit AED4.35b
Abu Dhabi / WAM The central bank of the UAE (CBUAE) has released a comprehensive report on the Takaful insurance sector in the UAE, with the aim of developing this critical industry and enhancing the country’s position as a leading Takaful insurance market globally. The report highlights the growing importance of the Takaful insurance sector in the local market, as ...
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