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

  Bloomberg Telecom Italia SpA will cut about 9,000 jobs by 2030, equating to around 20% of its Italian workforce, the company said as it presented its new business plan. The job cut total will include all planned and voluntary exits including retirements, a spokesman said, calling it part of the company’s push to create a leaner structure. Telecom Italia ...

Bloomberg Brazil’s heavy dependence on fertiliser imports is leading to a major upgrade of the nation’s ports, railways and distribution centers. Hundreds of millions of dollars are pouring into Brazil’s logistics infrastructure, all in order to more quickly get fertiliser from ports to inland farms thousands of miles away, which produce the most soybeans, coffee and sugar in the world. ...

  Bloomberg SoftBank Group Corp has temporarily paused talks about listing shares of its chips division, Arm Ltd., in London because of turmoil in the UK government, while it continues to pursue an initial public offering (IPO) for the business in New York, according to people familiar with the matter. SoftBank founder Masayoshi Son has repeatedly said his primary focus ...

Bloomberg US equity futures advanced as investors assessed the outlook for corporate earnings and global growth amid Europe’s deepening energy crisis. The dollar falls against all its group of 10 peers. Contracts on the Nasdaq 100 and S&P 500 climbed 0.9% after early-week gains unravelled on Apple Inc’s plans to slow hiring to brace for a potential economic downturn. The ...

  Bloomberg The Indian rupee touched another record low as foreign investors continued to sell the nation’s equities. The rupee declined to as low as 80.06 per dollar on Tuesday before reversing losses as traders cited possible central bank intervention. The currency has been buffeted by nearly $30 billion of foreign outflows from the nation’s equities so far this year ...

  Abu Dhabi / WAM The ongoing growth in trade between the UAE and France underscores their strong economic partnership and deep-rooted relations, supported by their leadership. The visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to France also confirms the strength of the comprehensive strategic partnership between the two friendly countries. From 2012 to 2021, the ...

  Dubai / WAM In line with the vision of Dubai’s leadership to make Dubai the global city with the best quality of life and further enhance its appeal as the world’s best city to visit, live, work, invest in, and study, Golden Visa holders in Dubai will be gifted the coveted Esaad privilege card. The card is issued by ...

  Dubai / WAM Dubai Financial Market (DFM) on Monday welcomed the listing of Union Coop’s shares, becoming the first cooperative society in the UAE to take this pioneering step, in line with the government’s decision pertaining to the trading of cooperative societies’ shares on financial markets, which aims to strengthen the regulatory environment for the cooperatives’ sector and reinforce ...

  Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec) and its subsidiaries celebrated the 10th anniversary of the construction of the first peaceful nuclear power plant in the Al Dhafra region of Abu Dhabi, which made the UAE the first in the Arab world to use nuclear energy technology to produce environmentally friendly electric power. The UAE has ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) commissioned a new 400/132 kV substation in Al Qusais Industrial Area 5, and ten 132/11 kV substations in different areas in Dubai, during the first half of 2022. This is part of Dewa’s efforts to provide an advanced infrastructure that keeps pace with the increasing demand for energy in Dubai. The ...