The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG Federal Reserve policymakers are primed to resume raising interest rates this month and remain open to a further increase later in the year. While officials were encouraged by a step-down in price pressures last month, they’re not inclined to pronounce an end to their battle to rein in inflation that has repeatedly surprised them with its persistence. Contributing to ...
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July, 2023
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16 July
Sterling bulls face reckoning after currency’s best week
BLOOMBERGÂ Traders who drove the pound to its best week of the year have a lot riding on the next inflation report, where even a faster-than-expected rate could work against them. Pricing in the options market suggests investors are already revving up to sell, concerned that something in the economy will eventually break under the weight of ever-higher rates. Positioning ...
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16 July
Musk announces xAI in bid to build ChatGPT alternative
BLOOMBERG Elon Musk, who has hinted for months that he wants to build an alternative to the popular ChatGPT artificial intelligence (AI) chatbot, announced the formation of what he’s calling xAI, a company with a mission to “understand the true nature of the universe.†xAI said its team will be led by Musk and staffed by executives who have worked ...
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16 July
Meta’s Threads to raise stakes for Snap, Pinterest
BLOOMBERG The arrival of Meta Platforms Inc’s Twitter challenger further complicates the investment case for social media firms Snap Inc and Pinterest Inc, whose share price recoveries lag their larger rival. Facebook parent Meta is by far the dominant player in the sector, and that is extending to its stock this year. Shares have outperformed by leaps and bounds, with ...
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16 July
Lush, Nickelodeon and Paramount Consumer Products launch limited edition product collection tied to SpongeBob Squarepants: Operation Sea Change
DUBAI / GULF TIME Hot on the heels of the SpongeBob SquarePants takeover of the Lush Kitchen Box, Lush is excited to announce that there are more products in the SpongeBob SquarePants collection launched globally in June. Renowned for innovating packaging-free cosmetic items — such as bath bombs, shampoo bars and solid bar soap — the whole collection is designed ...
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16 July
Samadhi Wellness set to transform community, launches in Dubai
DUBAI / GULF TIME Samadhi, a new wellness concept with a mission to provide a sacred space for the community to flow and replenish life balance, is now open in 491b Jumeirah 3. The destination offers yoga classes, a sauna, an ice bath, a private pool, retail, hair therapy treatments, café, state-of-the-art amenities, and a wide variety of experiences from ...
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16 July
New lifestyle enhancement concept Another Mars opens in Dubai
DUBAI / GULF TIME Another Mars, an innovative wellness and healing destination, opened its door recently in Jumeirah. The concept elevates the industry by providing next-level healing and wellness offerings. Featuring an array of spa and massage treatments, meditation groups, and sound healing therapies, the two-story space with chic luxury interiors and a tranquil ambience, creates a whole new definition ...
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14 July
Sheikh Zayed Grand Mosque Centre receives 3.3mn visitors in H1
ABU DHABI / WAM The Sheikh Zayed Grand Mosque Centre (SZGMC) in Abu Dhabi received 3,334,757 visitors in the first half of 2023, a 127 percent increase compared to the same period last year. The visitors comprised 914,195 worshippers, and some 2,388,437 tourists, of which 1,684,409 visited the mosque and 704,028 visitors to the mosque’s visitor centre and market, a ...
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14 July
UAE, Mozambique sign pact in workforce field
DUBAI / WAM The UAE and the Republic of Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the management of the contractual work cycle for Mozambican workers in the UAE. The MoU was signed by Dr Abdulrahman Al Awar, Minister of Human Resources and Emiratisation (MoHRE), and Margarida Adamugy Talapa, Minister of Labour, ...
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14 July
UAE banking sector has adequate liquidity buffers, says central bank
ABU DHABI / WAMÂ The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022. The report provides a comprehensive assessment of the stability of the UAE financial system, which remained resilient throughout 2022 despite global headwinds, and the banking sector being well capitalised with adequate liquidity buffers. The report discusses global and local macroeconomic ...
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