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

Bloomberg WeChat creator Allen Zhang is counting on a breakthrough in video to thwart TikTok owner ByteDance Ltd., building on the success of his last big overhaul of the all-in-one messaging app. Zhang, celebrated in China for inventing Tencent Holdings Ltd.’s signature creation, has toyed for years with ways to keep and expand WeChat’s industry lead, particularly as upstarts like ...

Bloomberg AT&T Inc. is holding exclusive talks to sell a significant stake in DirecTV to private equity firm TPG, the latest stage of a months-long push to unload at least part of the struggling pay-TV business. A potential deal is weeks away, and the talks could still fall apart, said the person, who asked not to be identified because the ...

Bloomberg Microsoft Corp. is raising the price for subscriptions to Xbox Live Gold, its paid online gaming platform, doubling the cost for an annual pass and prompting swift outrage from users. The price bump brings the cost of a six-month subscription to $60. Last year, Microsoft removed the option for a full-year subscription at that price from the online store. ...

Bloomberg A former Tesla Inc. software engineer was ordered to appear before a judge to face allegations that three days into his job, he started stealing confidential files and transferring them to a personal storage account. During his two-week employment, Alex Khatilov stole more than 6,000 scripts, or files of code, that automate a broad range of business functions, Tesla ...

Bloomberg Mercedes-Benz is taking on one of the most complex industry challenges with the rollout of its battery-powered EQA: selling small electric cars without a big profit squeeze. The brand’s first fully electric compact model will hit European showrooms this spring, flanking the mid-size EQC sport-utility vehicle and the EQV van, the Daimler AG unit said. Unlike Tesla Inc.’s Model ...

ABU DHABI / WAM Suhail Al Mazrouei, Minister of Energy and Infrastructure, has said that the UAE seeks to reduce the carbon footprint through the implementation of the Energy Strategy 2050, which aims to reduce carbon dioxide in the country by 70%. “The world aspires to accelerate the energy transition towards a low-carbon future and seeks to reduce emissions,” he ...

ABU DHABI / WAM/Agencies The Abu Dhabi Executive Council has approved a framework between Abu Dhabi Government and Aldar Properties for the development of capital projects in the emirate. The decision follows the recommendation of the Abu Dhabi Executive Committee to establish a public-private partnership framework for the development of capital projects in the emirate and the subsequent Memorandum of ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed), has announced that it is expanding its partnership with Masdar by developing and connecting Masdar and Tabreed infrastructure to help increase operating synergies further. The collaboration represents another major milestone in Tabreed’s strategy of providing efficient cooling to sustainable cities around the world, and expands on Tabreed and Masdar’s existing ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Wednesday announced the commencement of a rehabilitation project of the historical Al Fahidi Fort, which is home to the Dubai Museum. The project is being carried out as part of the vision of the late Sheikh Rashid ...

ABU DHABI / WAM Mubadala Investment Company, the Abu Dhabi-based global investor, and Schneider Electric, the global leader in the digital transformation of energy management and automation, have agreed to collaborate in a number of sustainability-related areas, both in the United Arab Emirates and globally. The agreement provides for the exploration of a multi-faceted collaboration across a number of business ...