The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG Goldman Sachs Group Inc has started cutting managing directors (MD) across the globe as the firm reduces its headcount amid a deals slump, according to people familiar with the matter. About 125 MDs, including some in investment banking, will lose their jobs, said one of the people, who asked not be identified because the cuts aren’t public. Not all ...
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June, 2023
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25 June
Mohammed bin Rashid congratulates top high-school achievers
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Sunday congratulated top high school achievers of the current academic year. His Highness Sheikh Mohammed called Yasmin Mahmoud Abdullah Mohammed Ali, who finished first in the Elite Stream at Rashidiya High School in Dubai, to congratulate her. “I spoke with ...
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25 June
UAE leaders wish President of Slovenia on National Day
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Nataša Pirc Musar, President of Slovenia, on the occasion of her country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour ...
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25 June
UAE’s GDP grew by 7.9% in 2022, says economy minister
DUBAI / WAM Abdullah bin Touq Al Marri, Minister of Economy, said that the preliminary estimates of the UAE’s gross domestic product (GDP) for 2022, issued by the Federal Competitiveness and Statistics Centre, reaffirm the robustness of the country’s economic performance and its achievement of positive growth rates that exceeded estimates. The UAE’s GDP in 2022 at constant prices totalled ...
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25 June
UAE ministry, MFTA launch Sustainable Fintech Pledge
DUBAI / WAM The Ministry of Climate Change and the Environment (MOCCAE), and the Middle East and North Africa Fintech Association (MFTA), announced the launch of the Sustainable Fintech Pledge on Sunday, aimed at integrating sustainability principles into the operations of FinTech companies, contributing to a more resilient future. The Sustainable FinTech Pledge aligns with response of the MENA FinTech ...
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25 June
UAE ministry discusses tourism cooperation with India, UK, Indonesia, Japan
NEW DELHI / WAM Abdullah bin Touq Al Marri, Minister of Economy and Head of the Emirates Tourism Council, has met separately with Sandiaga Uno, Minister of Tourism and Creative Economy of Indonesia; John Whittingdale United Kingdom’s Minister of State for Media, Tourism and Creative Industries; G Kishan Reddy, Union Tourism and Culture Minister of India, and Koichi Wada, Commissioner ...
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25 June
Ministry, health partners provide guidance to pilgrims at airports
DUBAI / WAM The Ministry of Health and Prevention (MoHAP), in collaboration with its partners in the health sector has announced it will deploy specialised health education teams at airports, in a strategic move aimed at safeguarding the health and safety of pilgrims from infectious diseases. The teams will accompany Hajj convoys prior to their departure from the country, providing ...
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25 June
Zuckerberg, Altman offer support for EU regulation of AI
BLOOMBERG Technology company executives Mark Zuckerberg and Sam Altman expressed support for government oversight of artificial intelligence (AI) after discussions with European Commissioner Thierry Breton. The commissioner said that he and Zuckerberg, chief executive officer of Meta Platforms Inc, were “aligned†on the EU’s regulation of artificial intelligence, which is now in final negotiations. They agreed on the bloc’s risk-based ...
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25 June
Modi meets Musk, Dalio in US as global money flocks to India
BLOOMBERG Indian Prime Minister Narendra Modi’s trip to the US couldn’t have come at a better time. A buzzing economy, equity benchmarks at record highs and a rapidly growing consumer market all make for a great advertisement as he pitched the country’s potential to American corporate executives and investors. Stocks in India have lured almost $10 billion in net foreign ...
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25 June
Honda profit outlook exceeds estimates
BLOOMBERGÂ Honda Motor Co forecast profit for the current fiscal year that slightly exceeded analyst projections thanks to a recovery in automobile production, drops in some material prices and robust sales of motorcycles in India and Southeast Asia. The Japanese automaker also said in a statement that it plans to buy back as much as $1.5 billion yen of its ...
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