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

  Sharjah / WAM Mohammed Juma’a Al Musharrakh , Chief Executive Officer of the Sharjah FDI Office (Invest in Sharjah), highlighted the rich investment options and promising opportunities available in the UAE, noting that investors’ choices help shape the future of the region and the entire world. In a statement to the Emirates News Agency (WAM) on the occasion of ...

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) announced on Tuesday amendments to the mechanism of achieving Emiratisation targets in private sector companies with 50 employees or more, in line with the amendments of the provisions of Cabinet Resolution No. 5/19 for 2022. Companies will now be required to increase Emiratisation in skilled jobs by 1% ...

  Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez) continues to support big players in the agri-tech sector with the setting up of Al Amir Food Industries’ (Aafi) 13,500 m2 processing unit for healthy pulses and spices. With an investment of AED35 million in its new factory at Al Ghail Industrial Zone, the Indian company will create ...

  Dubai / WAM Imdaad, a Dubai-based group of companies that provides integrated, sustainable facilities management services, has secured a contract to provide comprehensive common area cleaning services, along with room attendant services, to the Dubai Foundation for Women and Children (DFWAC), the first licensed non-profit shelter in the UAE for women and children. Under its year-long agreement with DFWAC, ...

  Abu Dhabi / Gulf Time “Al- Shaqi” owned by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, crowned as the champion of the Sheikh Zayed Festival for 60- foot sailing bearings, in the first round of this category, which was launched by the Abu Dhabi Marine Sports Club. The race was held under ...

  Bloomberg Bed Bath & Beyond Inc. has lined up investors for an eleventh-hour cash infusion that would allow it to stave off a bankruptcy filing. The retailer, which has been preparing for a Chapter 11 filing after lenders declared it in default last month, plans to issue convertible preferred securities and warrants, it said in a statement, in a ...

  Bloomberg A FedEx Corp. wide-body cargo jet came within 100 feet of colliding with a Southwest Airlines Co. plane early February 4 in Austin, Texas, and the two planes remained in close proximity for at least 30 seconds, according to accident investigators. The FedEx Boeing Co. 767-300 had been cleared to land on the same Austin-Bergstrom International Airport runway ...

Bloomberg Retail sales disappointed in the UK last month as Britons facing higher household bills reined in their spending after splurging on Christmas festivities. Total retail sales rose by 4.2% year-on-year in January, around half the pace in December and down from 11.9% growth a year earlier, the British Retail Consortium and consultancy KPMG said in a report on Tuesday. ...

  Bloomberg Apple Inc.’s latest iPhones are selling at discounts of more than $100 in China, an unusually steep price cut just months after launch that suggests dwindling demand for even its highest-end devices. JD.com Inc. and state carrier China Mobile Ltd. are among the retailers taking 800 yuan ($118) off the iPhone 14 Pro range over 11 days. Retailers ...

  Bloomberg Alibaba Group Holding Ltd.’s Daraz group is cutting 11% of jobs to weather a slump in online commerce, joining a growing roster of tech names retrenching to weather a global downturn. The Pakistani company, which Alibaba acquired from Rocket Internet in 2018, has quintupled active shoppers to more than 15 million over the past five years. But in ...