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

  Bloomberg British businesses are taking creative and unusual steps to attract staff, amid a notably tight labour market. One of celebrity chef Raymond Blanc’s restaurants is subsidising a bus service. Le Manoir aux Quat’Saisons, which holds two Michelin stars, contributes to the transport link, helping them reach workers who live several miles away in Oxford. Supermarket chain J Sainsbury ...

Bloomberg New Twitter Inc. owner Elon Musk emailed his workers for the first time to prepare them for “difficult times ahead” and ban remote work unless he personally approved it. Musk said there was “no way to sugarcoat the message” about the economic outlook and how it will affect an advertising-dependent company like Twitter, according to the email reviewed by ...

  Bloomberg Apple Inc has hired a startup founder and former Facebook executive to run its information systems group after departures in that department. Timothy Campos will lead the Information Systems and Technology department, better known as IS&T, which handles the infrastructure behind Apple’s online services, customer support and website. Apple refers to the operation as its “nerve center” because ...

  Bloomberg Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history. The reductions, equal to about 13% of the workforce, were disclosed in a statement. The company will also extend its hiring freeze through the first quarter. “I want ...

  Bloomberg Italy’s pensions will rise by 7.3% from next year to keep up with rising inflation, Finance Minister Giancarlo Giorgetti said. The boost to retirement payments, which is automatic in contrast to wage hikes, will bring relief to households hit by soaring energy costs in the European Union’s third-biggest economy but may further complicate the European Central Bank’s efforts ...

Bloomberg Indian stocks jumped to an all-time high as strong corporate earnings and a return of foreign investors bolsters one of the world’s top-performing major markets of the year. Joining a global rally sparked by a softer-than-expected US inflation reading, the S&P BSE Sensex Index jumped 2% to close at 61,795.04 on Friday, eclipsing a previous record reached on October ...

Bloomberg Chinese stocks listed in the US soared after Beijing made significant changes to the stringent Covid Zero policy that has bogged down the economy and dented appetite for the country’s equities. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, jumped 5.1% in premarket trading. Stocks that are most sensitive to an economic ...

Sakhir / WAM   President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Thursday discussed with His Majesty King Hamad bin Isa Al Khalifa of Bahrain the deep-rooted ties between their countries and ways to enhance their cooperation and expand its scope to advance their mutual interests. His Majesty King Hamad welcomed His Highness Sheikh Mohamed, wishing him continued good ...

Abu Dhabi / WAM Noon.com announced that it will build the UAE’s largest fulfilment centre in Abu Dhabi as part of an anchor investment into the emirate’s fast-growing e-commerce space. The 252,000 square metres mega facility is the result of a partnership between the Abu Dhabi Investment Office (Adio) and Noon, and will generate thousands of jobs and fuel the ...

Dubai / WAM   Dubai’s Enoc group and Japanese heavy-industry manufacturer IHI Corporation signed a memorandum of understanding to explore establishing a low-carbon hydrogen and low-carbon ammonia supply chain in the UAE. The move is aligned with the UAE’s overall efforts to diversify its energy sources to transition into a clean energy model for the world to emulate. The produced fuel ...