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

BLOOMBERG Europe’s automakers are bracing for slower growth this year after sales fell for the first time in 17 months in December on waning enthusiasm for electric vehicles. New-vehicle registrations declined 3.8% to 1.05 million units last month, the European Automobile Manufacturers’ Association said. Sales slumped nearly a quarter in the region’s biggest market Germany after EV incentives ran out, ...

BLOOMBERG Thailand’s electric vehicle (EV) sales may double this year as Chinese manufacturers prepare to roll out their first locally manufactured models and about $2.4 billion in government incentives boosts consumer demand. New battery EV registrations are likely to top 150,000 by the end of the year, Krisda Utamote, president of the Electric Vehicle Association of Thailand, said in an ...

BLOOMBERG Macy’s Inc is laying off about 3.5% of its workforce ahead of the departure of longtime Chief Executive Officer Jeff Gennette, as the department-store operator retrenches amid lower demand. The company said the cuts include about 2,350 employees, mostly in corporate positions. It will also close five stores. The Wall Street Journal earlier reported the layoffs and store closures. ...

BLOOMBERG Indian consumer goods giant Hindustan Unilever Ltd posted disappointing quarterly profit as it struggled with weak demand, a subdued festival season and competitors tearing into the firm’s market share. The Mumbai-based unit of Unilever Plc reported a 0.4% rise in net income to 25.2 billion rupees ($303 million) for the quarter through December compared with the same period a ...

BLOOMBERG Boeing Co won an order for 150 Max jets from India’s newest airline, in a rare spot of good news for the US planemaker since a piece of fuselage blew off an Alaska Airlines flight almost two weeks ago. Akasa Air, which began flying commercially less than two years ago, made a firm purchase for the 737 Max 10 ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan received a phone call today from His Excellency Volodymyr Zelenskyy, President of Ukraine. During the call, President Zelenskyy expressed his appreciation to His Highness for the UAE’s mediation efforts leading to the recent significant prisoner exchange between the Russian Federation and Ukraine. The two leaders also discussed ...

ABU DHABI / WAM Under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, ADNEC Group, in strategic collaboration with the Ministry of Defence, announced the agenda of Unmanned Systems Exhibition (UMEX) and Simulation and Training Exhibition (SimTEX), scheduled from 23rd to 25th January 2024, at the Abu Dhabi National Exhibition Centre. Preceded by ...

CAIRO / WAM H.H. Sheikha Jawaher bint Mohammed Al Qasimi, wife of H.H. the Ruler of Sharjah, Chairperson of The Big Heart Foundation (TBHF), and UNHCR Eminent Advocate for Refugee Children, has stressed that the current realities of the global refugee community offer insight into our collective future. She expressed a passionate commitment to alleviating the physical and psychological sufferings ...

ABU DHABI / WAM ADQ, an Abu Dhabi-based investment and holding company, has announced the launch of the ADQ Community Carnival. The free-to-attend carnival promises to provide guests of all ages with valuable opportunities to engage in entertaining activities, enjoy a weekend of family-friendly fun and gain insights into ADQ’s portfolio companies and their contributions in driving the growth of ...

DUBAI / WAM The First edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd January, at Dubai World Trade Centre. The three-day exhibition, jointly hosted by the governments of Kyoto, Japan, and the Department of Economy and Tourism in Dubai (DET), is expected to attract around 20,000 visitors, and over 100 leading ...