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

BLOOMBERG A top-performing Japanese fund is shifting its attention to railway operators from automakers on expectations companies that rely on domestic revenue will fare better should the yen rebound. Carmakers, which have been among the Topix’s best sectors this year, may start to face headwinds if a stronger currency reduces the value of their overseas revenue, according to the Eurizon ...

BLOOMBERG Stocks posted small moves in cautious trading as investors looked ahead to the Federal Reserve’s interest-rate decision, bracing for any warnings from Chair Jerome Powell that market expectations of policy easing are overdone. Europe’s Stoxx 600 index edged higher, with Inditex SA climbing after the Zara owner forecast a stronger gross margin. Entain Plc rallied 7.5% following news that ...

DUBAI / GULF TIME Amidst the fanfare of COP28 negotiations between countries, the range of pledges for future action towards addressing climate change, and calls for more action across the board of climate issues, COP28 has also seen a refreshing amount of solutions that are already underway. One company leading this charge is the world’s largest solar photovoltaic producer LONGi. ...

ABU DHABI / GULF TIME Sorbonne University Abu Dhabi (SUAD) organized the SUAD Youth COP Panel at COP28 at the Greening Education Hub Erth Zayed, to unveil the “Sorbonne University Abu Dhabi Call to Action for Future Generations”, in collaboration with YOUNGO, Université Paris-Cité (France) and Universidad Federal Do Ceará (Brazil). The event was held in the presence of Her ...

DUBAI/ WAM As the global push towards positive climate action prompts greater investment in sustainable food production, Sokovo has inaugurated its vertical farm to produce leafy greens and microgreens at Dubai Industrial City, a part of TECOM Group PJSC. Sokovo’s factory inauguration contributes to the UAE’s push for food security, which is also on the agenda for the United Nations ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President William Samoei Ruto of Kenya, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, ...

DUBAI/ WAM The Ministry of Climate Change and Environment (MoCCAE) has signed a Joint Declaration of Intent with the Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety and Consumer Protection in the Federal Republic of Germany for the “Green Coast Initiative”. This initiative aims to collaborate in the protection, restoration, and sustainable management of mangrove trees in African ...

BUENOS AIRES/ WAM On behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, Noura Al Kaabi, Minister of State, attended the inauguration ceremony of Javier Milei as President of the Republic of Argentina, in Buenos Aires, accompanied by Saeed Alqemzi, UAE ambassador to Argentina. Al Kaabi conveyed His Highness the UAE President’s regards to the newly-appointed Argentine President, ...

ABU DHABI/ WAM The Central Bank of the UAE (CBUAE) joined the “AFAQ” Payments System, which is operated by the Gulf Payments Company (GPC) and owned by the GCC Central Banks. AFAQ, a system linking payment systems in GCC countries, offers the service of executing financial transactions in local currencies to customers in the GCC countries in real-time with lower ...

ABU DHABI/WAM Abu Dhabi Airports, the operator of five commercial airports in the emirate of Abu Dhabi, revealed today the establishment of an exchange programme with Shanghai Airport Authority (AVINEX), that recognises common interests between the two parties, as well as capitalising on opportunities of collaboration in the aviation sector. The agreement was announced through a Memorandum of Understanding (MoU) ...