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

Bloomberg Twitter Inc. said several of its employees were manipulated by hackers into providing credentials for internal systems, and 130 Twitter accounts were targeted including those of Joe Biden, Elon Musk and Jeff Bezos. The hackers were able to reset passwords for 45 users, while eight had their data, including private messages, downloaded entirely, Twitter said in a blog post. ...

Bloomberg Voice assistants such as Apple Inc.’s Siri and Amazon.com Inc.’s Alexa are at the center of a sweeping European Union (EU) antitrust inquiry into how Silicon Valley uses data to gain a tight grip on growing markets. EU watchdogs already see signs that tech giants might be restricting access to data or making products that don’t work well with ...

DUBAI / WAM Master developer Nakheel has announced that it sold almost 250 properties with a total sales value of over AED600 million in the last four months, with ready-to-occupy villas most in demand. Among the most popular are Nakheel’s family villas at Nad Al Sheba, where a third phase of ready-to-move-into properties has just been released, after phases one ...

Bloomberg Oil edged lower with a weaker demand outlook underscored by Opec’s decision to taper production cuts and US economic data signaling a slowing recovery in the labour market. After hitting a four-month high, US crude futures fell as much as 1.5% on Thursday. Next month, Opec+ plans to add at least 1 million barrels a day of supply to ...

KHOKHA / WAM The UAE continues its relief assistance to the Yemeni people as part of its humanitarian mission to alleviate the stress of the living conditions affecting the local population. The Emirates Red Crescent (ERC) provided 40 tons of relief materials to 1,370 families in the Al Alili camp in the coastal Yemeni city of Khokha, who had fled ...

Bloomberg Joe Biden called for setting a 100% clean-electricity standard by 2035 and investing $2 trillion over four years on clean energy, three people familiar with his plan said. The Democratic nominee’s new commitments mark a clear shift towards progressives’ environmental priorities and cutting the use of fossil fuels. The people briefed on his plan spoke on the condition of ...

Bloomberg California Resources Corp filed for bankruptcy, kicking off what could turn into the next wave of collapses among oil drillers and the businesses that depend on them. The company joins more than 200 oil explorers that have filed for court protection since 2015, and more may be coming in a matter of weeks. Denbury Resources Inc and Noble Corp ...

Bloomberg Two months after India announced a 900 billion rupees ($12 billion) loan program to aid power distributors punished by the pandemic, only a fraction has been utilised as many state applications have yet to meet the lending requirements, according to people familiar with the matter. The loans, announced by Finance Minister Nirmala Sitharaman, are among a raft of measures ...

Bloomberg The International Energy Agency (IEA) bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound sharply over the next three months as economic activity resumes, the agency said in ...

Bloomberg As much as $23 billion in capital needed for US clean energy projects could dry up amid the economic fallout from the coronavirus pandemic — threatening the growth of renewables into next year. That represents as much as 31 gigawatts of solar and wind projects that may be seeking tax-equity investments over the next 18 months, according to a ...