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

  Bloomberg Samsung Electronics Co is making the biggest change to its smartphone strategy in years by reorganising around its big-selling Galaxy S and foldable Galaxy Z series of devices. The company plans to discontinue its Note lineup of stylus-equipped phones and instead distribute that capability across its portfolio while pushing premium foldables in its challenge to Apple Inc. “In ...

Bloomberg Mercedes-Benz AG vehicles are more profitable than ever after the chip crisis sparked a worldwide shortage of cars, boosting the selling prices for models such as the flagship S-Class. The automaker exceeded its profitability target last year and the return on sales in the final quarter was the highest on record, a spokesman said. The global dearth of high-tech ...

  Bloomberg Apple Inc confirmed plans to release its much-anticipated Tap to Pay feature on the iPhone later this year, giving merchants an alternative to Block Inc.’s Square technology. The option will let sellers accept payments through Apple Pay, credit cards and digital wallets without additional hardware, the company said in a statement. The system relies on near field communication, ...

  Bloomberg Twitter Inc’s sales jumped 22% in the fourth quarter, signalling that the social network’s digital advertising business has held up even as changes to Apple Inc.’s data-collection rules hurt some larger rivals. Sales in the holiday quarter rose to $1.57 billion, compared with $1.58 billion analysts had predicted. Revenue in the current period will be $1.17 billion to ...

  NEW YORK / WAM The United Arab Emirates highlighted its ongoing efforts to help countries around the world recover from the Covid-19 pandemic during the 60th session of the United Nations’ Commission for Social Development. Covid-19 assistance that the UAE has provided includes more than 2,000 tonnes of supplies and nearly 200 medical assistance flights sent to 135 countries. ...

  Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) on Friday reported consolidated financial results for the year ended December 31, 2021 with net income (Taqa-share) of AED6.0 billion, an increase of AED3.2 billion, thanks to greater contribution from the oil & gas segment and reflecting the AED1.5-billion post-tax impairment charge in the previous year. The group revenues ...

  Dubai / WAM The Emirates News Agency (WAM) has signed a memorandum of understanding (MoU) with Djibouti Information Agency (Agence Djiboutienne D’Information) in the news service exchange and media content fields. This came during a meeting between Mohammed Jalal Al Rayssi, Director General of WAM, and Abdoulrazak Ali Dirneh, Director-General of Djibouti Information Agency and in line with distinguished ...

  Abu Dhabi / WAM ADQ, an Abu Dhabi-based investment and holding company, on Friday announced the central bank of the UAE has granted an in-principle approval to launch a new digital banking platform, which will be called Wio. With its headquarters in Abu Dhabi, Wio will enhance the capital’s growing reputation as a global financial services center at the ...

  Abu Dhabi / WAM The UAE and Israel signed a memorandum of understanding (MoU) to strengthen their tourism and economic cooperation and reinforce their bilateral ties. The MoU was signed by Dr. Ahmed Belhoul Al Falasi, Minister of State of Entrepreneurship and SMEs and Chairman of the Emirates Tourism Council, and Yoel Razvozov, Israeli Minister of Tourism, who is ...

  Dubai / WAM Young travellers flying Emirates as unaccompanied minors can now relax and wait for their flight in a newly upgraded lounge dedicated for them at Dubai International Airport, located next to Emirates’ First Class Lounge in Concourse B. Emirates’ lounge for unaccompanied minors is open 24/7, and the newly upgraded facility offers fun video games, drinks and ...