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

BLOOMBERG European stocks slid, following a weak session in Asia after Federal Reserve officials pushed back against bets of aggressive interest rate cuts next year. The Stoxx Europe 600 index dropped 0.4%, while US stock futures edged higher. The MSCI Asia Pacific Index lost as much as 1.1%, the most since December 5. The dollar was broadly steady while yields ...

BLOOMBERG The rupiah looks poised to weaken heading into 2024, as uncertainty ahead of Indonesia’s national elections in February plays on investors’ minds. The currency may trade around 15,800 a dollar in the first quarter next year, according to BNY Mellon Corp, HSBC Holdings Plc and PT Bank Mandiri. It closed at 15,493 on December 15. Historically, the rupiah has ...

ABU DHABI/ WAM The UAE Embassy in Poland, today received a ship carrying 27 fully equipped ambulances to support the health sector in Ukraine. Implementing the wise leadership’s directives, this shipment follows a previous one last September that carried 23 ambulances. Thus, 50 ambulances provided by the UAE were delivered to Ukraine in 2023. The UAE Embassy in Poland has ...

ABU DHABI/ WAM The fifth edition of the ADNOC Abu Dhabi Marathon witnessed a new women’s record set by first-timer Brigid Kosgei, as more than 25,000 participants from 168 different nationalities took to the streets of the UAE capital. The five-time major Marathon champion swept to victory with a stunning time of 2:19:15 – a minute quicker than the previous ...

ABU DHABI/ WAM The third batch of volunteers, heading to the Gaza Strip, left the country today to join the field hospital that the UAE had established in the Gaza Strip to provide Palestinians with the necessary medical treatment and care. The new batch of volunteers, comprising 9 healthcare professionals, will join their fellow doctors and nurses, who are currently ...

DUBAI/ WAM DP World has announced plans to relocate its global head office to Expo City Dubai, marking the latest milestone in the company’s 50-year journey, as it continues to expand its global supply chain solutions. The move to Expo City is part of the company’s journey from a local port operator in 1972 to a truly global supply chain ...

KUWAIT CITY/ WAM H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, today conveyed the condolences of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his sympathy to His Highness Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, Emir of the State of Kuwait, on the passing of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. This came as ...

DUBAI/ GULF TIME “Art of Living Mall,” the first-of-its-kind shopping center specializing in innovative designs and furniture pieces in the United Arab Emirates and the Middle East and North Africa region, has announced the launch of its grand contest, offering the winner a chance to drive away with a luxurious Rolls-Royce car valued at one million seven hundred thousand Emirati ...

BLOOMBERG Federal Reserve Chair Jerome Powell’s pivot towards interest-rate cuts is spreading holiday cheer in the White House, where the improved prospects for an economic soft landing are a boon for President Joe Biden’s bid for another term. Biden has seen his poll numbers sag amid voter anxiety over a surge in the cost of living, and he would face ...

BLOOMBERG Alphabet Inc just got a reminder of how important the perception of having a winning AI strategy is for investors. The Google owner added $87 billion in market value in a single day after showing off the capabilities of its Gemini large language model, which it claims can rival OpenAI’s ChatGPT. To sustain those gains, Alphabet needs to show ...