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

  Bloomberg HSBC Holdings Plc has agreed to sell its 15 Greek bank branches to Pancreta Bank SA, the latest move by the lender to cut back some of its operations outside of Asia. Subsidiary HSBC Continental Europe has reached an “in-principle agreement to sell its branch operations in Greece,” according to a statement. No financial terms were disclosed and ...

  Bloomberg Standard Bank Group Ltd is in talks with Industrial and Commercial Bank of China (ICBC) to exit the two banks’ UK-based joint venture and focus on growing operations on its home continent. ICBC Standard Bank was created in 2015, when the company sold a 60% stake of its London-based Global Markets business to Chinese giant. The combination sought ...

  Bloomberg Chinese technology giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. have lost more than $1 trillion in combined market value since the selloff in Hong Kong stocks began 13 months ago. The two tech powerhouses account for more than half of the $2.1 trillion in total losses for Hang Seng Tech Index members since the gauge’s February ...

  Bloomberg European stocks retreated as investors braced for tomorrow’s expected Federal Reserve policy tightening and weighed the impact of soaring inflation on economic growth. The Stoxx Europe 600 slumped 2% at 8:56 am in London. Miners fall the most, with commodities retreating as coronavirus outbreaks in China threaten to disrupt the country’s economic recovery. Consumer products and services as ...

  Bloomberg Apple Inc shares fall, closing below their 200-day moving average for the first time since June, after the iPhone maker’s supplier Foxconn halted operations at its Shenzhen sites following a government-imposed lockdown. Shares dropped as much as 2.7%, ending at their lowest since November. The decline erased more than $67 billion off Apple’s market capitalisation, putting it under ...

  ABU DHABI / WAM Upon the directives of His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), the ERC has intensified its Ramadan programmes for 2022, which will benefit over 2.1 million people in the UAE and the rest of the world. They comprise Ramadan Iftar, ...

  Dubai / WAM The total e-commerce in the UAE, surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025, according to a data released by EZDubai, a dedicated e-commerce zone in Dubai South, in partnership with Euromonitor International, the world’s leading provider for global business intelligence, market analysis, and consumer insights. More consumers ...

  Abu Dhabi / WAM The UAE has strongly condemned the ballistic missile attack on Erbil, in Iraqi Kurdistan. The Ministry of Foreign Affairs and International Cooperation in a statement last night expressed the UAE’s strong condemnation and denunciation of the attacks that are aimed to destabilise Iraq in violation of the principles of international law. The ministry affirmed the ...

  ABU DHABI / WAM Edge group has concluded its successful participation at the World Defense Show (WDS 2022), held in Riyadh, Saudi Arabia, with the signing of key strategic partnership agreements, visits of several dignitaries to its booth, as well as a cutting-edge displays of the latest military and defence products and solutions. During the four-day show, Edge unveiled ...

Dubai / WAM Airbus Secure Land Communications is exhibiting its mission-critical communication and collaboration solutions at the World Police Summit 2022, which is taking place until March 17 at the Dubai Exhibition Centre, Expo 2020 Dubai. Selim Bouri, Head of Middle East, Africa and the Asia Pacific for Airbus Secure Land Communications, said, “As the threat landscape continues to evolve, ...