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

Bloomberg President Donald Trump injected confusion into the outlook for Covid-19 relief, demanding changes to the bipartisan legislation approved by Congress. In a surprise video announcement posted on his Twitter account, Trump called the bill a “disgrace” and said it was full of “wasteful and unnecessary” items. He demanded that lawmakers increase stimulus checks due to go out to most ...

Bloomberg Judging by the last quarter of 2020, New York’s luxury real estate market should enter 2021 with confidence. Sales of homes that cost more than $4 million were a little above those of the same three months in 2019, says Donna Olshan, president of luxury real estate broker Olshan Realty. “Now, some of that has to do with demand ...

Bloomberg Apple Inc. Chief Executive Officer (CEO) Tim Cook refused to take a meeting years ago to discuss acquiring Tesla Inc., Elon Musk said. Tesla CEO Musk said in a tweet that he reached out to Apple during the “darkest days” of development of his company’s Model 3 to talk about a possible deal. Musk said he planned to discuss ...

Bloomberg The UK and Canada reached a temporary agreement to prevent tariffs on goods and services between the two countries starting on January 1, when the UK will no longer be covered by Canada’s trade deal with the European Union. In a statement by the Canadian foreign affairs ministry, the governments said they agreed to continue giving each other’s products ...

Bloomberg American shoppers shunned stores and extended their online binge during the last weekend before Christmas, adding to a package-delivery logjam that’s now reaching a crescendo. There’s “a lot of stuff all hitting at once,” said Craig Johnson, president of Customer Growth Partners. “I think it’s past the time for creative. They have to charge people extra to get it ...

Bloomberg Indian debt and rupee may lure overseas investors in 2021, just like the nation’s equities with one caveat: the central bank will face more challenges in curbing the local currency’s gains against the greenback. Stocks have already attracted the biggest yearly inflows since 2012, adding to the woes for the Reserve Bank of India (RBI) that has been buying ...

Bloomberg European stocks rise after trade and transport links between the UK and its neighbours looked set to resume and Brexit negotiators made a final push for a deal. The Stoxx 600 Index rises as France agreed to end a suspension that crippled Britain’s busiest port after a new virus variant sparked more severe lockdowns. The pound advanced as the ...

NEW YORK / WAM The United Nations General Assembly has adopted by consensus a resolution proclaiming February 4 as “International Day for Human Fraternity.” The initiative was introduced by the United Arab Emirates, Bahrain, Egypt and Saudi Arabia, and as a result the international community will observe International Day for Human Fraternity annually beginning in 2021. Prior to the adoption ...

ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) — alongside partners Masdar, EDF Renewables and JinkoPower — announced on Tuesday the successful financial closing of the Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project. The record-breaking project, located approximately 35 kilometres from Abu Dhabi city, will have a capacity of 2 gigawatts (GW) and will supply ...

ABU DHABI / WAM Abu Dhabi’s Technology Innovation Institute (TII), the applied research pillar of the Advanced Technology Research Council (ATRC), announced on Tuesday that its Cryptography Research Centre (CRC) has built the UAE’s first national and sovereign crypto library. The milestone is set to enable the country to safeguard vital and confidential sources of information. The development follows a ...