The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg PayPal Holdings Inc is pausing work on its stablecoin as regulators increase scrutiny of cryptocurrencies and a key partner in the project faces a probe by the New York State Department of Financial Services. PayPal had hoped to debut the stablecoin, which will be backed one for one by the US dollar, in the coming weeks, but will ...
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February, 2023
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12 February
SoftBank next robot target is Berkshire Grey
Bloomberg SoftBank Group Corp. offered to buy all shares in robot maker Berkshire Grey Inc. it doesn’t already own in a $218 million deal, in a foray into logistics automation after halting almost all investment activity for months. The global tech investor has sent a non-binding letter of interest, offering to buy Berkshire shares for $1.30 a piece, according to ...
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12 February
Ford plans to build EV battery plant in Michigan with Chinese partner
Bloomberg Ford Motor Co. and Contemporary Amperex Technology Co. Ltd. plan to build a battery plant in Michigan, capping a monthslong search that became mired in geopolitical tensions between the US and China. The multibillion-dollar facility, to be located about 100 miles west of Detroit, is expected to create about 2,500 jobs. The agreement could be announced as soon ...
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12 February
Coupang turns to thousands of robots in bid for profit
Bloomberg Coupang Inc, the South Korean e-commerce pioneer that has lost billions of dollars since its founding, is rolling out an army of robots at fulfillment centers in a bid to reach profitability. Korea’s answer to Amazon.com Inc., Coupang burned cash by building distribution centers around the country that could help it push the boundaries of speedy delivery with ...
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12 February
Nissan aims to sell more cars in Europe
Bloomberg Nissan Motor Co. aims to increase car sales in Europe and make the region one of its four core markets, the Financial Times reported on Sunday, citing an interview with a senior executive. The carmaker will raise Europe to the same level of importance as Japan, China and the US after gaining market share in the region in ...
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12 February
InstaRunway.com hosts Galentine’s event to celebrate Valentine’s Day
Dubai / Gulf Time InstaRunway.com, GCC’S newest e-commerce platform, hosted a vibrant and fun Galentine’s event in Dubai for its exclusive VIP women customers amidst the backdrop of the Dubai Skyline. The event also offered a sneak peek to the latest collections of their portfolio of internationally renowned brands like SJP by Sarah Jessica Parker, Furla, Olivia Burton London ...
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12 February
Nest Finders honours its distinguished employees
Dubai / Gulf Time Nest Finders celebrated a series of successes in a big evening held by the company at the Queen Elizabeth Hotel in Dubai. Khaled Yaghmour, General Manager of the company, honoured the company’s employees who achieved the highest sales for the past year 2022. On this occasion, Khaled Yaghmour said, the company has achieved great successes in ...
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11 February
UAE sent 27 aid planes to Syria, Türkiye so far
ABU DHABI / WAM The UAE has sent five aircraft carrying relief supplies, which arrived on Friday in Türkiye and Syria, bringing the total to 27 aircraft sent so far under the ‘Gallant Knight/2’ operation, launched with the purpose of aiding earthquake-affected people in both countries. To date, the UAE has sent a total of 17 aircraft to Türkiye, ...
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11 February
Adex inks AED445m green finance deal with Angola
Abu Dhabi / WAM The Abu Dhabi Exports Office (Adex), the export-financing arm of Abu Dhabi Fund for Development (ADFD), signed two green finance agreements with the government of Angola, valued at AED445 million. The financing is provided in cooperation with Standard Chartered Bank. One agreement, valued at AED330 million, relates to the acquisition of an analytical platform, main data ...
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11 February
Abu Dhabi conference to attract global leaders from defence, military sectors
Abu Dhabi / WAM The International Defence Conference 2023 will be held on February 19 at the Adnoc Business Centre in Abu Dhabi with the participation of a large number of leaders, decision-makers, ministers, senior officials and speakers representing defence industries from all over the world. Held under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, ...
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