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 Emirates Red Crescent (ERC) and Q Holding PJSC signed a cooperation agreement to strengthen their partnership in humanitarian fields. The agreement outlines mechanisms for coordination and cooperation between the two parties and Q Holding’s role in supporting the ERC’s humanitarian and development efforts in the UAE and abroad. It also aims to promote corporate social responsibility ...

ABU DHABI / WAM Emirates Water and Electricity Company (Ewec) has, for the first time, met 80% of total power demand in Abu Dhabi using renewable and clean energy from its solar and nuclear energy plants. In the process, Ewec supplied approximately 6.2 gigawatts (GW) of the total 7.7GW system power demand. The significant achievement to meet 80% of total ...

DUBAI / WAM DMCC – the world’s flagship free zone and government of Dubai Authority on commodities trade and enterprise – has partnered with Digital Wave Finance (DWF) Labs, a global digital asset market maker and multi-stage web3 investment firm, to offer a new $5 million growth platform for web3 and blockchain businesses at the DMCC Crypto Centre. As a ...

BARCELONA / WAM e& on Thursday received the Brand Finance Telecoms 150 2023 award as the most valuable portfolio of telecom brands in the Middle East and Africa. e& has undergone a significant transformation, resulting in remarkable business growth and sustained stakeholder confidence. The transformation into a global technology and investment group has seen e &’s portfolio of brands grow ...

BLOOMBERG GSK Plc’s vaccine for respiratory syncytial virus (RSV) won the support of a key panel of US regulatory advisers for use in people aged 60 and older, as the drugmaker races against Pfizer Inc to bring to market the first vaccine for RSV. The panel of 12 outside  advisers to the Food and Drug Administration (FDA) voted unanimously that ...

BLOOMBERG Apple Inc has abruptly shut down one of its retail stores in Charlotte, North Carolina, after the mall where it’s located suffered at least three shootings in recent months. The company informed the store’s employees that the location would be closing immediately, according to people with knowledge of the matter. The store was open for business and a copy ...

BLOOMBERG Swedish home prices have yet to hit a bottom as one of the world’s most severe housing routs is about to enter its second year. Soaring consumer prices and a string of interest-rate increases have dealt a heavy blow to the Swedish economy, which is particularly sensitive to rising borrowing costs. The country’s households have some of the highest ...

BLOOMBERG Elon Musk’s latest master plan for Tesla Inc fell flat as the electric-car maker shared scant details about next-generation models that will underpin its next phase of growth. The almost four-hour presentation was long on calculations of what the sustainable energy transition will require, along with boasts about manufacturing and engineering efficiencies. But Musk and the executives who joined ...

BLOOMBERG Stock markets worldwide extended losses on Thursday, as US 10-year Treasury bonds topped 4% for the first time since November in a sign that the Federal Reserve’s warnings of higher-for-longer interest rates are finally sinking in. Europe’s Stoxx 600 equity index retreated 0.5%, having fallen to three-week lows as hotter-than-forecast German inflation data pushed money markets to bet on ...

BLOOMBERG Shares of Adani group companies climbed on Thursday as block trades in some of the conglomerate’s stocks suggested institutional investors were buying after a prolonged rout. Flagship Adani Enterprises Ltd. erased an early loss of 10% as 36.8 million shares, equalling 3.2% of its equity, changed hands in two block trades. A series of block deals also punctuated early ...