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

For Samsung Electronics Co, the answer was 180 trillion won ($161 billion). For Apple Inc. it was $350 billion. The question was: How much are you going to contribute to your home economy? But for the smartphone giants’ finance teams, it might just as well have been – what’s the biggest number you can rustle up to impress politicians? Samsung ...

The manner in which Elon Musk disclosed that he was “considering taking Tesla private” shows why this would be the best possible outcome for all involved. The stock jumped 4 percent on Musk’s tweet, on top of an existing rally that had taken hold 30 minutes earlier on a Financial Times report that Saudi Arabia had bought stock in the ...

It’s time for FAANG stocks to break up, at least in investors’ minds. Facebook, Apple, Amazon, Netflix and Google parent Alphabet can’t get away from one another. Every time one grabs the spotlight — as Apple did last week when it became the first US company with a $1 trillion market value — it brings along the other four. They’re ...

Snapchat has defined itself in opposition to the internet establishment. It didn’t want to be a digital hangout like Facebook that lured the masses to perform for strangers. Snapchat’s advertisements wouldn’t be “creepy” like other internet ads. Web-video programs from partners such as ESPN wouldn’t be the schlock people saw elsewhere. Now, though, Snapchat is borrowing liberally from the internet ...

Dubai / Emirates Business Peru’s Trade, Tourism and Investment Office has revealed that exports from Peru to the UAE have risen by almost 10,000 percent in seven years. Exports from Peru to the Emirates increased from $6 million in 2011 to $600 million last year thanks to increasing demand from consumers and the ongoing work of the Trade, Tourism and ...

DUBAI / WAM DP World on Tuesday announced the signing of the acquisition of 100 percent of the Unifeeder Group for euros 660 million (AED2.8 billion) from Nordic Capital Fund VIII and certain minority shareholders. Based in Aarhus, Denmark, Unifeeder operates the largest and most densely connected common user container feeder and an important and growing shortsea network in Europe, ...

ABU DHABI / WAM The energy sector is constantly evolving, transforming and experiencing a rapid pace of change across all sectors, said the Abu Dhabi Department of Energy Under-Secretary. “It’s the new normal,’ said Mohammed Juma Al Falasi, adding that the development of energy resources will drive the country’s economy for decades to come. Commenting on the upcoming Singapore International ...

CAIRO / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Abdel Fattah el-Sisi, President of Egypt, have discussed the relations between the UAE and Egypt and means of strengthening them, as well as regional and international issues of mutual interest. The discussion, which took ...

ABU DHABI / WAM Dr. Al Hassan Al Taher, Governor of Hodeidah, has warned of an Iranian plan to create a maritime crisis in the Strait of Hormuz and Bab Al Mandeb, in order to avoid an internal crisis and halt the re-imposition of sanctions. In his statement to the Emirates News Agency (WAM), Al Taher stressed that the end ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), in collaboration with 11 other financial regulators and associated organisations from around the world, on Tuesday, issued a discussion paper announcing the establishment of a Global Financial Innovation Network (GFIN) and consulting on its proposed functions. The GFIN is a network of leading global regulators, which will seek to conduct joint ...