The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG Go Airlines India Ltd’s slide into bankruptcy has left travellers frustrated and confused, with many worried about how expensive re-booking tickets may be against the spiralling cost of air fares. The airline, majority owned by billionaire Nusli Wadia’s Wadia Group, is the latest to go under in one of the world’s fastest-growing aviation markets. It blames its fate on ...
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May, 2023
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4 May
European stocks drop before ECB; PacWest Bancorp slumps
BLOOMBERG European stocks dropped as investors turned their focus towards a rates decision by the European Central Bank (ECB) after a quarter-point hike by the Federal Reserve. US regional lenders slumped on renewed worries about financial stability. Most industry groups were in the red in Europe, with energy a bright spot after Shell Plc posted strong quarterly profit and maintained ...
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4 May
BofA says a 40% earnings downgrade awaits Indian stocks
BLOOMBERG Earnings estimates for Indian firms may be slashed by about 40% this fiscal year and next due to a host of global and domestic risks, according to Bank of America Corp (BofA). Consensus estimates for NSE Nifty 50 companies are lofty and haven’t moderated despite a weak outlook for software firms, analyst Amish Shah wrote in a note. Estimates ...
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4 May
Gold hits near record high as Fed hints rate-hike pause
LONDON / WAM Gold prices traded near record-high levels on Thursday, as US yields and the dollar dipped after the US Federal Reserve hinted it might pause its rate-hike cycle, Reuters reported. Spot gold was up 0.1% at $2,040.46 per ounce by 0249 GMT. Earlier in the session, prices rose to $2,072.19 per ounce and hovered close to an all-time ...
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4 May
Sharjah Ruler approves ‘Jawaher Boston Medical District’Â project
SHARJAH / WAM H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in the presence of his wife, H.H. Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of the Board of Directors of BEEAH Group, approved the joint “Jawaher Boston Medical District†project between BEEAH Group, “Mass General Brigham Hospitals Network,†and “Dana-Farber Cancer Institute,†...
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3 May
Ahmed bin Mohammed meets with Chairman of Board of Directors of Qatar Free Zones Authority
DUBAI / WAM H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, on Wednesday met with Ahmed bin Mohammed Al Sayed, Minister of State and Chairman of the Board of Directors of the Qatar Free Zones Authority, on the sidelines of the closing day of the World Free ...
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3 May
UAE President sends written letter to King of Jordan containing invitation to attend COP28
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written letter to King Abdullah II of Jordan regarding bilateral relations between the UAE and Jordan. The letter included an invitation to the Jordanian King to participate in the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), ...
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3 May
UAE leaders wish Polish President on Constitution Day
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Andrzej Duda of Poland, on the occasion of his country’s Constitution Day, which is celebrated on May 3. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His ...
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3 May
Added chief credits Abu Dhabi’s prosperity to sustainable growth
DUBAI / WAM Ahmed Jasim Al Zaabi, the Chairman of Abu Dhabi Department of Economic Development (Added), has attributed Abu Dhabi’s success to continuous evolution, diversification, and sustainable growth. Speaking at the Oracle CloudWorld Abu Dhabi, he emphasised their focus on knowledge, innovation, and long-term sustainability as the pillars of Abu Dhabi’s Falcon Economy. Abu Dhabi’s transformation into a global ...
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3 May
Reem Al Hashimy visits New Zealand to enhance bilateral cooperation
WELLINGTON / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, visited New Zealand from to enhance cooperation between the two countries in the economic, trade, and cultural fields. During the visit, she met with Nanaia Mahuta, Minister of Foreign Affairs of New Zealand; Damien O’Connor, Minister of Commerce; and James Shaw, Minister of Climate Change, to ...
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