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

  Bloomberg US pending home sales fall in July for the sixth time this year to the lowest level since the start of the pandemic, extending the housing market’s sharp downturn as high borrowing costs sideline prospective buyers. The National Association of Realtors’ index of contract signings to purchase previously owned homes decreased 1% from a month earlier to 89.8, ...

  Bloomberg Argentina etched out a job market program aimed at addressing informal labour as it seeks to lower government spending. A government decree created the “puente” or bridge program by which social welfare recipients can continue to receive their handouts for a year after starting a formal, payroll job. The government will also cover all employer contributions during that ...

  Bloomberg Warren Buffett’s Berkshire Hathaway Inc. trimmed its stake in BYD Co. even further, offloading another 1.72 million shares as of September 1, according to an exchange filing on Friday, just days after the legendary US investor began reducing his holding in China’s biggest maker of electric vehicles. Berkshire’s interest in BYD’s Hong Kong-listed shares has now fallen to ...

  Bloomberg Stocks are set for a third straight week of declines ahead of key US jobs data that could stir expectations for another sharp Federal Reserve interest-rate hike. A dollar gauge slipped from a record high and the euro strengthened. US futures fluctuated on Friday, while European stocks rose and Asian shares fell. The jobs update is expected to ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday that its first shipment of low-carbon ammonia has left the UAE bound for Hamburg, Germany. This is the first ever cargo of low-carbon ammonia to be shipped to Germany. The demonstration cargo will be delivered to Aurubis, a leading global provider of non-ferrous metals and one ...

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Shavkat Mirziyoyev of Uzbekistan, on the occasion of his country’s Independence Day, which is marked on 1st September. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also ...

  Dubai / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, participated in the Joint Environment and Climate Ministers’ Meeting as part of the G20 Summit, hosted under the presidency of the Republic of Indonesia. At the event, Almheiri highlighted the importance of demonstrating solidarity by forging meaningful regional and global partnerships to tackle environmental and ...

  Dubai / WAM The Dubai Maritime City Authority (DMCA) at the Ports, Customs and Free Zone Corporation endorsed its continued efforts in implementing a number of initiatives aimed at facilitating operations for yachts and local marinas, with the aim of enhancing Dubai’s position as a marine leisure hub. Sheikh Saeed bin Ahmed bin Khalifa Al Maktoum, Executive Director of ...

  Dubai / WAM Dubai real estate market recorded 414 sales transactions worth AED1.19 billion, in addition to 101 mortgage deals of AED216.02 million, and 19 gift deals amounting to AED477.33 million on Thursday, data released by Dubai’s Land Department (DLD) showed. The sales included 368 villas and apartments worth AED736.06 million, and 46 land plots worth AED453.75 million, while ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, directed urgent aid worth AED50 million to provide relief to those affected by the floods in Pakistan. The aid, which will be provided by the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), in cooperation with ...