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

Bloomberg Huawei Technologies Co. is planning to manufacture electric cars under its own brand, Reuters reported, as it shifts away from a consumer electronics business battered by US sanctions. The Chinese tech giant could roll out some models this year, Reuters said. Huawei is in talks with Chongqing Changan Automobile Co. and other carmakers to use their plants to manufacture ...

Bloomberg Samsung Electronics Co. revealed additional details about its plans to build a cutting-edge semiconductor facility in the US in a filing with the Texas government, making the disclosure as the Biden administration vows to make the security of the US chip supply a national priority. The South Korean company plans to invest about $17 billion in its Project Silicon ...

Bloomberg India led the world last year in internet shutdowns that affected hundreds of millions of people, as governments cracked down on political rivals and tried to suppress protests. At least 155 internet shutdowns in 2020 disrupted access for people in 29 countries, according to a report from digital rights group Access Now. That included 28 full internet blackouts that ...

ABU DHABI / WAM World Business Times has recognised the ‘Together We Are Good’ programme, launched by the Authority of Social Contribution – Ma’an, as a leading initiative in bringing the community together and embodies the principles of human fraternity. The programme positively impacted more than 400,000 beneficiaries in Abu Dhabi, according to a report published on Wednesday by the ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced that it will remove destination restrictions on its Murban, Upper Zakum, Das and Umm Lulu crude grades, starting from the first traded contract month of the new ICE Murban Crude Oil Futures Contract. The company also confirmed that Adnoc Onshore, the producer of Murban Crude Oil, ...

ABU DHABI / WAM Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED29 billion in cash dividends for 2020 have been proposed to date by 38 companies listed in the UAE capital markets, according to data released by the listed firms. Banks are the largest distributors of profits, with eight Emirati ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has issued a resolution to restructure the board of directors of Abu Dhabi Housing Authority, chaired by Falah Mohammad Al Ahbabi. The board members include deputy-chair Saif ...

Bloomberg Oil climbed ahead of a crucial Opec+ meeting, as the alliance was expected to agree a coordinated increase in output as the pandemic’s impact on the market recedes. Brent futures rose 1.5% after three consecutive days of losses for the first time since December. The widespread view among the Organization of Petroleum Exporting Countries (Opec) and its allies is ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed) and the International Finance Corporation (IFC), a member of the World Bank Group, are planning to establish a district energy investment platform in Singapore. The platform will invest in district cooling, trigeneration and cooling as a service offering with primary focus on India followed by other South East Asian countries. ...

DUBAI / WAM Dubai Land Department (DLD) and Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, joined forces to lay down a general framework that would enhance the attractiveness of investment in Dubai by attracting foreign direct investment (FDI), expanding the scope of promotions and knowledge sharing as well as organising joint activities that will directly serve ...