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

  Bloomberg Billions of dollars in Argentine technology exports are going unreported as companies and freelance workers skirt currency controls, according to an industry group. About $2.2 billion of service exports from the country’s technology sector may go unreported in official data this year, according to Luis Galeazzi, executive director of Argencon, an advocacy group that published its semiannual report ...

  Bloomberg Canadian consumer price inflation shot past expectations in March, jumping to a new three-decade high and cementing expectations the Bank of Canada will continue with aggressive interest rate hikes in coming weeks. Annual inflation rises to 6.7% last month, up from 5.7% in February, Statistics Canada reported in Ottawa. That’s the highest since January 1991 and exceeds the ...

  Bloomberg BMW AG long tried to bill its flagship 7 Series sedan as the more fun-to-drive alternative to similar offerings from Mercedes-Benz AG. As the rivalry goes electric, the German manufacturer is trying to also win over people sitting in the back. The i7 boasts a luxurious interior that includes a flatscreen lowering from the ceiling to entertain passengers ...

Bloomberg The world’s biggest technology companies could face billions of dollars in fines for breaches of new European Union legislation after lawmakers reached an agreement on its scope. The landmark Digital Services Act (DSA) is the EU’s answer to what it sees as a failure by tech giants to combat illegal content on their platforms. Noncompliance could cost companies as ...

Bloomberg For years, Volkswagen’s poor performance in the US fuelled debate among the company’s managers about whether Europe’s biggest carmaker should simply pack up and leave. According to Chief Executive Officer Herbert Diess, that’s no longer remotely an option. “We are going nowhere,” Diess said in a recent interview with CBS’s 60 Minutes. “No, we have to come back in ...

  Bloomberg Shares in Ferrari NV tumbled the most in more than two weeks after the luxury sports carmaker issued a recall for 2,222 of its vehicles in China, telling owners there may be some problem with the brakes. According to Bloomberg Intelligence data, that’s the equivalent volume of almost every car Ferrari has sold in the country since 2018 ...

  Abu Dhabi / WAM Emirates Stallions Group PJSC subsidiary, Royal Development Company (RDC), a property management firm, have been appointed by Q Properties to manage Reem Hills, the recently launched AED8 billion luxury residential project on Abu Dhabi’s Reem Island. With the first phase due for completion in December 2024, Royal Development Company will manage the project in its ...

  Abu Dhabi / WAM The UAE has strongly condemned the two terror attacks in Afghanistan, one of which targeted a mosque in Mazar-e-Sharif, in which a number of civilians were killed and injured. In a statement on Friday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed that, “the UAE expresses its strong condemnation of these criminal acts ...

  Dubai / WAM About 2,145 real estate and property transactions worth AED6.3 billion were conducted in Dubai during the week ending April 22, according to the Land Department of the Government of Dubai. Two hundred and twenty-five plots were sold for AED1.12 billion, and 1,436 apartments and villas were sold for AED3.2 billion, said a Land Department statement on ...

  Abu Dhabi / WAM The Abu Dhabi Chamber of Commerce and Industry and the Korea Federation of Small and Medium Business (KBIZ) signed a cooperation agreement to strengthen economic and trading relationships between their respective members. Signed in Abu Dhabi, the cooperation agreement stipulates that both parties shall support the business environment as a global system for positive partnerships ...