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

Bloomberg The most stylish SUV you can buy today is, yes, a Volvo. Others may be more exciting (Lamborghini Urus), more athletic (Porsche Cayenne), more luxurious (Mercedes-Benz GLE), or more conscientious (Tesla Model X). But only the 2020 Volvo XC90 possesses that rare combination of restraint, comfort, attention to detail, and heritage that translates into true style. Yes, even in ...

Bloomberg Volkswagen AG struck deals with two Chinese companies and deepened cooperation with Ford Motor Co., broadening its strategic footprint as the coronavirus sparks the worst economic contraction in decades and internal tensions rise. The German manufacturer will become the biggest shareholder of battery company Guoxuan High-Tech Co. and closed in on a 50% stake in a Chinese electric-vehicle partner. ...

Dubai / WAM DP World has announced the completion of the early stages of the integration with TradeLens, a blockchain-based digital container logistics platform, jointly developed by A.P. Moller – Maersk and IBM. The collaboration between DP World and the TradeLens platform will help accelerate the digitisation of global supply chains. DP World aims to connect all its 82 marine ...

Abu Dhabi / WAM National banks invested AED200 million ($54.45 million) in local stock markets in April after stock prices reached attractive levels, an increase of 2.2 percent compared to March. This investment led to an increase in the prices of many stocks, which positively affected general indexes over the past weeks. Attractive stock prices encouraged individuals and traders to ...

Bloomberg South Africa is seeking investments from multilateral lenders, commercial banks and pension funds in what a senior ruling party official said will be a $20.5 billion infrastructure program. The program will focus on “network industries such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements,” Paul Mashatile, the treasurer-general of the African National Congress, said in ...

Bloomberg Oil extended declines after an industry report showed US crude inventories swelled for the first time in three weeks. Futures fell 1.4% in New York, following Wednesday’s 4.5% decrease. The American Petroleum Institute reported that stockpiles expanded by 8.73 million barrels last week, according to people familiar with the data, raising questions about the strength of the market’s return ...

RIYADH / WAM An Unmanned Aerial Vehicle (UAV) launched by terrorist Houthi militia against civilian targets in Saudi city of Najran was successfully intercepted, Col Turki Al-Maliki, the official spokesman of the Arab coalition supporting Yemen’s legitimate government, said in statement carried by Saudi Press Agency (SPA). The Houthi militia continues to violate international humanitarian law by launching drones and ...

ABU DHABI / WAM In line with the Ministry of Health and Prevention’s plans to increase Covid-19 testing throughout the country for the early detection of infections, particularly among those who had contact with already infected cases, the Ministry has conducted 38,000 additional tests. Testing resulted in the detection of 563 new cases among various nationalities, bringing the total number ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) announced that it delivered the third shipment of classroom seating supplies to Sudan. Catering to the needs of 150,000 students across the country, the support aims to help Sudan advance its educational infrastructure. Taking the total value of assistance provided by ADFD to support the educational sector in Sudan to ...

DUBAI / WAM The Organisation for Economic Cooperation and Development (OECD) has recognised the determined efforts of the United Arab Emirates in fighting the coronavirus pandemic and the effective measures taken by the country’s government to limit the fallout of the crisis on different areas, including social and economic sectors. The commendation followed an ongoing analysis issued by the organisation ...