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 The financial sector, a cornerstone of the UAE economic diversification drive, has surged by a remarkable 30 percent in the second quarter of this year and is expected to continue its upward trajectory with an annual growth of 13 percent in 2023, according to a senior economic official. “As we reflect on our economic journey, it is ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued Resolution No. 11 of 2023, regarding the Internal Regulations of the Federal National Council (FNC), which included a number of amendments related to the powers of the Council’s bodies, with the aim of enabling the Council to exercise its legislative, oversight, and parliamentary diplomacy powers in ...

BLOOMBERG Nissan Motor Co will significantly ramp up electric-vehicle production in the UK with a £2 billion ($2.5 billion) investment at its Sunderland site in a boon to the country’s car industry. The Japanese carmaker will set up another battery factory and produce electric versions of the popular Qashqai and Juke models at Britain’s largest carmaking hub, it said. Nissan ...

BLOOMBERG Sonos Inc, best known for its smart speakers and sound bars, will make a long-awaited push into headphones with a model priced upwards of $400 that’s slated to be released as early as April, according to people familiar with the matter. The company is also aiming to introduce a TV set-top box, which would compete with products from Apple ...

BLOOMBERG Stocks fell and gold climbed to a six-month high as data showed a sharp slowdown in China’s industrial profits, which reinforced investor concerns about its sluggish economy. The Stoxx 600 index fell 0.3% and Nasdaq futures retreated 0.2%. Treasury 10-year yields climbed as much as five basis points to 4.51%, the highest in more than a week. Gold climbed ...

BLOOMBERG A South Korean regulator is investigating whether financial institutions that sold derivatives products linked to Chinese stocks adequately explained the risk of losses to retail investors. The Financial Supervisory Service is probing sales of equity-linked securities tied to the Hang Seng China Enterprises Index, the regulator said in a text message. Some 8.41 trillion won ($6.5 billion) of such ...

ABU DHABI / WAM Abu Dhabi Public Health Centre, a subsidiary of the Department of Health – Abu Dhabi dedicated to enhancing the public and preventive health system in the emirate, inaugurated the first-of-its-kind safety centre for injury prevention awareness in Sheikh Shakhbout Medical City (SSMC). The safety centre aims to educate all community members on the causes of injuries ...

DUBAI / WAM Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, recorded several achievements by applying different sustainability practices across its operations at its headquarters and other buildings. In 2022, Dubai South successfully diverted 622 tonnes of solid waste from landfills, equivalent to 29 percent of the total waste generated that year. This effort ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received a delegation from Dubai Electricity and Water Authority (Dewa) led by Saeed Mohammed Al Tayer, MD and CEO of Dewa. The delegation comprised Emirati experts, researchers and professionals from Dewa’s Research and Development (RD) Centre at the ...

ABU DHABI/WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, discussed during a phone call with Lars Løkke Rasmussen, Minister of Foreign Affairs of Denmark, the latest developments in the Middle East region and efforts to protect the lives of all civilians from the repercussions of the current crisis. The two sides also discussed the current situation ...