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

Bloomberg Intel Corp Chief Executive Officer Pat Gelsinger predicted the shortage of semiconductors that’s hurting industries from automotive to consumer electronics will bottom out in the second half of this year before starting to improve. “I don’t expect chip industry is back to a healthy supply-demand situation until ’23,” he said in an interview. “For a variety of industries, I ...

Bloomberg Amazon.com Inc. and Google are facing formal probes into possible violations of UK consumer protection rules over a failure to shield their users from an onslaught of fake reviews. The Competition and Markets Authority (CMA) said it has opened investigations to gather more information and decide whether the tech giants may have broken the law by not doing enough ...

Bloomberg European stocks slipped on Monday, with travel shares slumping amid restrictions prompted by coronavirus pandemic (Covid-19) strains, while US futures were little changed alongside Asian equities. The Stoxx 600 Index was led lower by the likes of Tui AG and EasyJet Plc, with the highly contagious Delta strain threatening to derail summer travel in Europe just as the northern ...

Bloomberg Malaysian stocks tumbled to a seven-month low amid a selloff across much of southeast Asia’s equities markets, after the local government extended a nationwide lockdown due to elevated Covid-19 infections. The FTSE Bursa Malaysia KLCI Index dropped as much as 1.3% on Monday, while Indonesia’s stock benchmark fell the most in six weeks. In Thailand, the key index sinks ...

Bloomberg Saudi Aramco outlined plans to invest in blue hydrogen as the world shifts away from dirtier forms of energy, but said it will take at least until the end of this decade before a global market for the fuel is developed. “We’re going to have a large share” of the market for blue hydrogen, Aramco’s chief technology officer, Ahmad ...

Abu Dhabi / WAM Al Yah Satellite Communications Company on Sunday announced the opening of the subscription period for the Initial Public Offering (IPO) of part of its existing shares on June 27, which will continue until Tuesday, July 6, for individuals and other investors in the UAE (as part of the UAE retail offering). The offering will continue until ...

Dubai / WAM The Government Development and the Future Office of the UAE government has launched ‘Future Partnerships’, a unique initiative, and the first-of-its-kind in the region, that engages leading private-sector firms to actively participate in preparing for, and shaping, the future of the UAE. The initiative is a platform where the government and private firms in the UAE can ...

Dubai / WAM DP World UAE Region, the leading smart trade enabler’s flagship Jebel Ali Port, carried out the export of 75,000 metric tonnes of rebar for Conares, the leading steel manufacturer in the Middle East. The consignment was shipped from the Jebel Ali Port to North America. With this export, DP World UAE Region and Conares collaborated to contribute ...

ABU DHABI / WAM Reem bint Abdullah Al Falasi, Secretary-General of the Supreme Council for Motherhood and Childhood (SCMC), met with the Unicef Regional Director for the Middle East and North Africa, Ted Chaiban, to strengthen their partnership and cooperation, to ensure the protection of children’s rights. The virtual meeting was attended by Saji Thomas, Child Protection Chief in the ...

ABU DHABI / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the National Agenda for Non-oil Export Development, an integrated framework for efforts to increase UAE’s foreign trade, promote Emirati products and access new markets all over the world. His Highness ...