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

Bloomberg Xiaomi Corp. recorded its slowest pace of quarterly sales growth since early 2020 after supply chain mayhem choked off the flow of vital components and rivals like Apple Inc eroded its market share. Shares in China’s largest smartphone maker slid more than 5% in Hong Kong to their lowest since September 2020, reflecting lingering concern about a global chip ...

Bloomberg The self-driving company founded by Russian technology giant Yandex NV said its new generation of vehicles will rely on sensors developed in-house to better see the road in the country’s often harsh driving conditions. A software-defined lidar system capable of seeing 500 meters (547 yards) away and operating in frigid weather will be the main sensor on new cars ...

Bloomberg Dell Technologies Inc posted revenue that beat Wall Street estimates, powered by corporate and consumer spending on personal computers, which both reached company records in the fiscal third quarter. Sales in the period ended October 29 rise 21% to $28.4 billion, the Round Rock, Texas-based company said in a statement. That compares with analysts’ average estimate of $26.8 billion, ...

Ankara / WAM The UAE announced it will establish a $10 billion investment fund in Turkey. This announcement followed the talks held in Ankara on Wednesday between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Recep Tayyip Erdogan, President of Turkey, which aimed to support ...

Abu Dhabi / WAM On behalf of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday inaugurated the third ordinary session of the 17th legislative chapter of the Federal National Council (FNC), attended by the crown princes, deputy ...

DUBAI / WAM Coinciding with the launch of Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, the Dubai real estate market continued to record new achievements and further growth in the field of real estate sales transactions. According to the data of the 20th edition of Mo’asher, Dubai’s official sales price index launched by ...

ABU DHABI / WAM All personnel working in private sector establishments, institutions and companies in the country will get a paid holiday on the occasion of Commemoration Day and UAE’s 50th National Day from Wednesday, December 1, until Friday, December 3. This was announced by the Ministry of Human Resources and Emiratisation in implementation to the cabinet resolution regarding the ...

Abu Dhabi / WAM The Non-performing Debt Relief Fund announced on Wednesday that 20 banks and financial institutions had waived the debts of 4,511 Emirati citizens, with a total value of more than AED1,157,388,000. The banks that participated included First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Abu Dhabi Islamic Bank, Standard Chartered, Mashreq Bank, Etisalat, National Bank ...

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, announced a new partnership with Stripe, a global technology company that builds economic infrastructure for the internet, assisting tech startups to more easily and efficiently accept payments online, payout funds, and manage their business growth. The partnership was announced during fintech Abu Dhabi Festival 2021, where Hub71 is a key ...

DUBAI / WAM Dubai Airports has issued a passenger advisory alerting travellers about Dubai International (DXB) getting exceptionally busy over the coming period. According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 – December 5, with average daily traffic reaching 164,000 passengers. The fourth of December is expected to be ...