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

ABU DHABI / WAM ADMO, the joint venture between Alpha Dhabi Holding and Monterock International Limited, on Wednesday announced that it has signed a definitive agreement to acquire rapidly growing luxury lifestyle group, CE LA VI. This strategic move signifies ADMO’s accelerated efforts in building a diverse portfolio of luxury, lifestyle, F&B, and entertainment brands, significantly expanding its global lifestyle ...

DUBAI / WAM The Ministry of Climate Change and Environment (MoCCAE) has announced upgrading the digital services for 103 of its services to bring the average delivery time down to 4 minutes. This is part of the ministry’s commitment to increasing flexibility and enhancing customer experience and satisfaction. It was announced by the ministry during the GITEX Global 2023 event, ...

ABU DHABI / WAM Saqr Ghobash, Speaker of the Federal National Council (FNC), on Wednesday received Inter-Parliamentary Union (IPU) President, Duarte Pacheco, and Secretary-General, Martin Chungong, at the FNC headquarters. At the start of the meeting, the FNC Speaker welcomed Pacheco to the UAE, as this is his first visit to the country, pointing to the distinguished relations between the ...

ABU DHABI / WAM Noura Al Kaabi, Minister of State, met with Lucie Berger, the Ambassador of the European Union to the United Arab Emirates, in the headquarters of the Ministry of Foreign Affairs in Abu Dhabi. During the meeting, Al Kaabi discussed bilateral relations between the UAE, the EU, and the EU’s member states, and ways to enhance these ...

SAMARKAND / WAM Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council, led the UAE delegation participating in the 25th Session of the UN World Tourism Organisation (UNWTO) General Assembly, which is currently being held in the city of Samarkand, Uzbekistan. The session will continue until October 20, 2023. The UAE, represented by the ...

ABU DHABI / WAM Presight AI Holding Ltd (Presight), a G42 company, the leading UAE-based Big Data Analytics and AI company, and TOTM Technologies Limited (TOTM) have announced plans to establish a joint venture [via their wholly-owned subsidiaries] for the development and deployment of their combined proprietary technologies, marking a deepening collaboration between the ADX-listed tech provider and Singapore’s home-grown, ...

ABU DHABI / GULF TIME In a significant move aimed at transforming the credit card offerings for UAE nationals, Finance House proudly announces the launch of its revolutionary credit card, “Forsa”. The Forsa proposition is set to have an immediate and positive impact on the lives of UAE nationals, offering unmatched benefits targeted at improving their financial well-being. With the ...

BLOOMBERG Morgan Stanley shares plunged the most since June 2020 after the firm’s dealmakers posted the biggest drop in fees on Wall Street and its wealth management unit had the lowest inflows in more than three years. Investment banking revenue slid 27% and the fixed-income trading business slumped, leading to a drop in profit. Revenue of $6.4 billion from the ...

BLOOMBERG European stocks edged lower on Wednesday, weighed down by disappointing results from ASML Holding NV and Swiss industrial conglomerate ABB Ltd, and as traders assessed escalating tensions in the Middle East. The Stoxx Europe 600 fell 0.1% in London. Chip equipment firm ASML Holding NV dropped as much as 5% after its order intake plunged in the third quarter ...

BLOOMBERG Chinese property stocks tumbled to close at the lowest level in 14-years, as weak home sales and rising debt woes for major developers deepened. A Bloomberg Intelligence gauge of developer shares fell 2.5% on Wednesday, with China Evergrande Group and Times China Holdings Ltd leading the decline. The gauge has plunged 44% so far this year, outpacing major benchmarks ...