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

BLOOMBERG South Korea is again in damage control mode, seeking to contain fallout from a construction firm’s debt woes that risk replicating replicating a recent credit crunch. In the cross-hairs this time is Taeyoung Engineering & Construction, which shocked markets late last month with a request to reschedule payment terms for project financing loans. These securities were also the source ...

BLOOMBERG Vietnamese electric-vehicle (EV) maker VinFast Auto Ltd signed an agreement with an Indian state to invest as much as $2 billion as it seeks to break into the world’s third-largest automobile market. The agreement will pave the way for VinFast to set up an integrated electric-vehicle facility in the southern state of Tamil Nadu, the company said in a ...

BLOOMBERG Huawei Technologies Co’s newest laptop runs on a chip made by Taiwan Semiconductor Manufacturing Co, a teardown of the device showed, quashing talk of another Chinese technological breakthrough. The Qingyun L540 notebook contains a 5-nanometer chip made by the Taiwanese company in 2020, around the time US sanctions cut off Huawei’s access to the chipmaker, research firm TechInsights found ...

BLOOMBERG TDK Corp is fielding surging inquiries in Asia into a new lineup of smartphone batteries it hopes will become a game-changer in the quest to pack more power into ever-slimmer devices. The Apple Inc supplier is the first to apply to smartphones a technological breakthrough that its rivals have been exploring mainly as a means to stretch mileage for ...

BLOOMBERG Hon Hai Precision Industry Co warned of its fourth consecutive decline in quarterly sales after a 5.4% slide in the last three months of 2023 suggested consumer electronics demand remains muted. The Taiwanese firm, also known as Foxconn, reported a steep 27% drop in December sales to NT$460.1 billion ($14.8 billion), concluding a NT$1.85 trillion quarter. It now sees ...

BLOOMBERG Cathay Pacific is reducing its schedule on average by 12 flights a day through to the end of February in an effort to avoid disruptions over the peak lunar new year travel period, the company said on Sunday. “We have taken measures to ensure Cathay Pacific’s flights will operate normally for the coming Chinese New Year travel peak,” Chief ...

DUBAI / WAM Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, has discussed the membership structure and requirements for joining the UAE-Japan Business Council which was established in July 2023. The discussion took place during his meeting in Dubai with the Director-General of the Japan External Trade Organization (Jetro) in Dubai and the ...

SHARJAH / WAM During a media briefing, the Sharjah Chamber of Commerce and Industry (SCCI) and the Sharjah Real Estate Registration Department (SRERD) announced the details of the new edition of the Sharjah Real Estate Exhibition — “ACRES 2024”, being held under the patronage of HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of ...

SHARJAH / WAM The Hamriyah Free Zone Authority (HFZA) in Sharjah has announced it is taking part in the 19th edition of the SteelFab 2024 exhibition, organised by Expo Centre Sharjah from 8th to 11th January 2024. During the event, HFZA will showcase the various opportunities and advantages of investing in the Free Zone as well as the facilities and ...

DUBAI / WAM In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE  and Ruler of Dubai, to improve the infrastructure of the road network to match Dubai’s sustained growth, accommodate urban and population needs, and ensure smooth traffic flow, and with the follow-up of HH Sheikh Hamdan ...