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

BLOOMBERG Most Adani group stocks fell as the embattled Indian conglomerate kicked off a charm offensive with fixed-income investors in Asia, its latest effort to stem the fallout from a short-seller’s attack. All of the group’s 10 stocks dropped, led by a 10% plunge in flagship Adani Enterprises Ltd., taking its market value wipeout to about $154 billion since Hindenburg ...

BLOOMBERG European stocks and US equity futures markets pushed higher early on Monday, following Wall Street’s worst week since December that saw traders come to terms with central bank policy that may remain restrictive for longer than thought on both sides of the Atlantic. The Stoxx 600 Index rose more than 1%, with technology firms and retailers pacing gains and ...

SHARJAH / WAM  Sharjah Economic Development Department (Sedd) released the results of Sharjah’s commercial and economic activities report during 2022, where 64,089 licences were issued and renewed in the past year, with a growth rate of six percent over 2021. This report included 7,615 new licences issued and 56,474 renewed. The department reviewed the results and the main developments and ...

ABU DHABI / WAM The 15th session of the joint UAE-Algeria Economic Committee has been held in Abu Dhabi under the chairmanship of Abdullah bin Touq Al Marri, Minister of Economy, and Algerian Minister of Industry, Ahmed Zaghdar, in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. “The late Sheikh Zayed bin Sultan ...

AMMAN / WAM    Companies from the UAE, Egypt, Jordan and Bahrain signed industrial agreements with an investment value exceeding $2 billion at the third Higher Committee meeting of the Industrial Partnership for Sustainable Economic Development. The meeting kicked off in Amman on Sunday in the presence of Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology ...

ABU DHABI / GULF TIME The first round of the UAE MotorSurf Championship, which was organised by Abu Dhabi Marine Sports Club on Saturday at Abu Dhabi breakwater, saw a great technical success considering the number of competitors that participated in the four categories of the championship. The first round recorded 24 participations. The Czech Republic’s Matias Novotny and Eliska ...

KOPIKO, INDONESIA / GULF TIME Sheikh Mohammed bin Sultan bin Khalifa Al Nahyan, President of the UAE Marine Sports Federation and Chairman of the Board of Directors of the Abu Dhabi Marine Sports Club, met the Emirati teams participating in the first round of Formula 1 World Championship, held in the city of Kopiko on Lake Toba, Indonesia. Sheikh Mohammed ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, First Vice President of the Dubai Council, and Chairman of the Higher Committee for Development and Citizens Affairs, has launched the ‘Emirati’ initiative, a comprehensive single-window platform exclusively designed to offer UAE citizens all the city services they need ...

DUBAI / WAM The UAE Government Media Office announced the success of the third edition of the “World’s Coolest Winter” campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on December 2022, in Al Zorah Natural Reserve in Ajman. The campaign promoted tourism, natural sites and ...

BLOOMBERG Supply chains across the world are healing up almost as fast as they broke down. That doesn’t mean the pressure they’re exerting on inflation will disappear as quickly. Take the cost of shipping containers. Spot rates from Asia to the US West Coast increased more than 15-fold during the pandemic and have since returned to pre-Covid levels as trade ...