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

Bloomberg Tesla Inc. halted some construction work at its German plant project after failing to make a security deposit with local authorities. Brandenburg’s environment ministry stopped tree removal activity and the installation of paint-shop machinery at the site until the funds are received, reports said. Tesla needs to provide a 100 million-euro ($122 million) deposit with local authorities to cover ...

Bloomberg Italy is set to keep its economic policy expansionary next year to support its coronavirus-battered economy, as agreed with European Union partners, Finance Minister Roberto Gualtieri said in an interview with La Stampa on Sunday. That could require widening the deficit further next year to support economic growth, but that won’t impact a planned reduction after 2021 and will ...

Bloomberg At least three US states are investigating Alphabet Inc.’s Google over the fees it takes from developers for purchases and subscriptions inside apps, and they may file an antitrust lawsuit against the company early next year, according to people familiar with the matter. The attorneys general of Utah, North Carolina and New York are among states that are preparing ...

Bloomberg Foreign investors may at last be returning to Japan’s stock market after a six-year selloff, amid the growing realisation of an opportunity that no other place can provide, a top fund manager says. Comgest Asset Management Japan Ltd. expects Japan’s profit growth to outpace that of the US, as corporate taxes will “almost certainly” rise under President Joe Biden. ...

Bloomberg Saudi stocks rallied on Sunday, putting them on track to be the Middle East’s best performers in 2020, a day after the Opec+ group pledged a more hands-on approach to the oil market. Equities in Dubai were among the region’s best performers amid optimism over a rebound in tourism. The main index in Riyadh gained 0.3% as of 10:20 ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has officially joined TikTok to connect with millions of his followers around the world on a new platform. The Dubai leader will share short clips of his 50-year journey in public service, providing insights in leadership and management to inspire youth ...

Bloomberg Oil rose for a seventh straight week as efforts to pass another US virus relief package added to optimism that the vaccine’s rollout will provide a long-awaited boost to demand. Futures rose 1.5% in New York, extending this week’s rally to over 5%. Talks on a relief package have made some headway, with Senate Majority Leader Mitch McConnell saying ...

ABU DHABI / WAM The UAE Jiu-Jitsu Federation (UAEJJF), the governing authority for the sport in the Emirates, has signed a landmark Memorandum of Understanding (MoU) with the International Association of Competitive Jiu-Jitsu In Israel, to promote the growth of the sport in both countries, elevate the standard of the jiu-jitsu through various knowledge-sharing initiatives, and encourage people-to-people exchanges through ...

ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and President of Abu Dhabi Judicial Department (ADJD), signed a decision establishing the Abu Dhabi Court for Family, Civil and Administrative Matters. The court will hear requests and claims related to personal status, civil, administrative and rental disputes, with aim of ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa)’s good governance model has become a guide for organisations around the world, in terms of keeping pace with rapid global changes and achieving the best international results as well as supporting sustainability and resilience in business agility. Saeed Mohammed Al Tayer, MD & CEO of Dewa, highlighted Dewa’s commitment in adopting ...