The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG Swedbank AB delivered better-than-expected income from lending activities in the second quarter, joining peer Nordea Bank Abp in enjoying the benefits of rising interest rates. Net interest income at Sweden’s second biggest bank rose 7% to 12.77 billion kronor ($1.2 billion) in the three months through June, compared to the first quarter, according to a statement on Tuesday. Analysts ...
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July, 2023
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18 July
World’s worst currency flips to best, hurting Zimbabwe’s economy
BLOOMBERG In most countries, the currency turning from the world’s worst to best in the space of a month would be good news. Not in the largely dollarised economy of Zimbabwe, where the local dollar has recouped nearly half of its value against the US dollar after a 90% plunge this year. That’s hurting businesses selling goods using exorbitant exchange ...
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18 July
European bonds rally as ECB official signals rate reprieve
BLOOMBERG A rally in European bonds gained steam on Tuesday after a key European Central Bank (ECB) official raised hopes that the end of the rate-hiking cycle is in view. Yields tumbled across the region, with those on Italian debt sinking 12 basis points after ECB Governing Council member Klaas Knot said monetary tightening beyond next week’s meeting is anything ...
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17 July
Abdullah bin Zayed receives Tunisian FM
ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, today received Nabil Ammar, Tunisia’s Minister for Foreign Affairs, Migration and Tunisians Abroad, in Abu Dhabi. The meeting discussed ways to strengthen UAE-Tunisia ties and cooperation across economic, trade and investment fields. Sheikh Abdullah underscored the deep-rooted relations between their countries, and affirmed that the ...
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17 July
Khaled bin Mohamed bin Zayed launches Balghaiylam residential development valued at AED 8 billion
ABU DHABI / WAM H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has launched Balghaiylam, a new residential development located north-east of Yas Island. Aldar Properties in partnership with the Abu Dhabi Housing Authority (ADHA) is developing the AED8 billion project as part of Abu Dhabi Government’s ...
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17 July
Decoding Consumer Behavior through AI: Zero Gravity Technology’s Innovative Leap with AED 15 Million Investment
ABU DHABI / GULF TIME Tariq Al Hosani, Chief Executive Officer of Zero Gravity Group Conpanies, recently announced the UAE-based company’s firm commitment to catalyzing growth and innovation through significant investments in artificial intelligence. Al Hosani revealed that Zero Gravity has dedicated AED 15 million towards the creation and refinement of AI technologies. This endeavor, in collaboration with the nation’s ...
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17 July
From rags to riches: Shameer’s inspiring journey motivates millions
ABU DHABI / GULF TIME Living under the leaking roof of a rented house with his family of seven in a small town in Kerala, a 13-year-old child has nothing to his name except for dreams to study hard and obtain a job. But life had something more to offer him. His path was always filled with thorns and obstacles, ...
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17 July
Non-oil trade between UAE, Japan rises to AED524.4bn over last decade
ABU DHABI / WAM The non-oil trade between the UAE and Japan grew by 36 percent over the past two years from 2020 to 2022, rising from AED39.9 billion to AED54.1 billion in 2022, according to data from the Federal Competitiveness and Statistics Centre (FCSC). This significant rise in non-oil trade reflects the strong partnership and economic cooperation between the ...
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17 July
UAE President, Japanese PM cement bilateral ties
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Japanese Prime Minister Fumio Kishida on Monday underscored the strength of UAE-Japan relations during a meeting in Abu Dhabi. Their discussions took place at Qasr Al Watan following an official reception ceremony to mark the start of PM Kishida’s official visit to the UAE. His ...
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17 July
UAE President, Japanese PM witness exchange of agreements aimed at strengthening ties
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Japanese Prime Minister Fumio Kishida on Monday witnessed the exchange of a number of memoranda of understanding (MoUs) and agreements aimed at further strengthening the robust and longstanding ties between the two nations. The exchange took place at Qasr Al Watan in Abu Dhabi during ...
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