The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

ABU DHABI / WAM In a bid to strengthen the UAE’s standing as a global hub for advanced technology, a delegation from the Abu Dhabi Fund (ADFD) for Development and the Abu Dhabi Exports Office (Adex) visited the Abu Dhabi-based artificial intelligence (AI) and cloud computing technology holding company, G42. The delegation discussed the joint strategic cooperation and explored ways ...

BLOOMBERG Twitter Inc has ceased to be an independent company after merging with a newly formed shell firm called X Corp, driving speculation about what Elon Musk intends for the social media platform. Twitter “no longer exists” after being merged with X Corp, according to a document submitted in a California court for a lawsuit filed against the company and ...

BLOOMBERG Moderna Inc said a final-stage study of its first experimental flu shot hasn’t accumulated enough data to determine efficacy, and the company will advance another candidate. Moderna tested its messenger RNA flu shot against a traditional vaccine in a trial of about 23,000 people age 50 and older in the northern hemisphere. An independent panel of scientific advisers recommended ...

BLOOMBERG South Korea fined Alphabet Inc’s Google 42.1 billion won ($32 million) for using its clout in the mobile app market to squeeze out a local rival, the latest sign of intensifying scrutiny on the US tech firm as it seeks to expand overseas. Google tried to block Korean platform rival One Store Co’s growth, Korea’s Fair Trade Commission said ...

BLOOMBERG Apple Inc Chief Executive Officer Tim Cook has scheduled a trip to open the iPhonemaker’s first stores in India next week, underscoring the company’s ambitions for the country as a growth market and manufacturing base. Cook is likely to preside over the opening of the twin outlets in India’s financial and political capital, people familiar with the matter said, ...

BLOOMBERG US equities traded higher, as the latest readings on jobs and factory-gate inflation were slightly softer than expected, a boost for those hoping the Federal Reserve may be approaching the end point of an era of aggressive interest rate hikes. The S&P 500 rose 0.3% while the more rate-sensitive Nasdaq 100 gained 0.9% after US jobless claims for the ...

BLOOMBERG Japan’s trade watchdog cautioned Mizuho Financial Group Inc’s brokerage unit, saying the company priced newly listed stocks in a way that could undermine competition and cause the issuing companies “unfair disadvantages.” Mizuho Securities Co set prices on some initial public offerings (IPOs) in 2020 and 2021 at levels below where the issuers said they should be, the Japan Fair ...

DUBAI / GULF TIME The first-ever shopping mall specializing in innovative interior design solutions and high-end home furniture in the United Arab Emirates and the Mena region has opened its doors. Keeping up with the growing demand on luxurious furnished properties, Art of Living is introducing a unique and exclusive concept in the interior design and furniture industry with a ...

DUBAI / GULF TIME Centro Barsha, Dubai announced the success of its charitable iftar event, which was held in collaboration with the UAE Food Bank, Saudi German Hospital, and The Little Things. The objective of the event was to provide approximately 400 meals to labourers in need. The event took place on April 4 at 4 PM and was a ...

BLOOMBERG German Chancellor Olaf Scholz’s ruling coalition will quickly approve a Polish request for permission to re-export MiG 29 fighter jets from former East German military stocks to Ukraine, according to a person familiar with the issue. The coalition will grant the demand to further support Ukraine in its fight against Russia’s invading forces, said the person who asked not ...