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

Al ARISH/ WAM In implementation of the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE is continuing its humanitarian aid drive to support the Palestinian people, as 10 Emirates Red Crescent trucks today crossed into Gaza carrying food aid. As part of Operation ‘Gallant Knight 3’, which aims to alleviate the suffering of civilians in ...

ABU DHABI/ WAM AD Ports Group, a leading facilitator of global trade, logistics, and industry, in collaboration with KazMorTransFlot (KMTF), national shipping company of Kazakhstan, fully-owned by the national Kazakhstan oil company – KazMunayGas (KMG), has announced the acquisition and commencement of operations of two state-of-the-art vessels designed for the transportation of Kazakhstan’s oil across the Caspian Sea.\ A naming ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan attended the Formula 1 Etihad Airways Abu Dhabi Grand Prix 2023 at Yas Marina Circuit today. His Highness was joined at the event by Sheikhs, state guests and dignitaries. His Highness congratulated the drivers participating in the race and F1 fans around the world on the successful ...

ABU DHABI/ WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, witnessed the second day of the Zayed Grand Prize Camel Race 2023, which was dedicated to ‘Al-Haqayeq’ category, at the Al Wathba camel racing track this evening. The race was also attended by Sheikh Sultan bin Hamdan Al ...

BLOOMBERG Nigeria’s central bank pledged major changes to get a grip on inflation and steady the country’s battered currency, signaling tighter monetary policy ahead. The Central Bank of Nigeria will switch to inflation targeting instead of trying to control money supply in its battle to slow price increases, Governor Olayemi Cardoso said in a speech to bankers. The central bank ...

BLOOMBERG Inditex SA shares are headed for the highest close since the retailer’s 2001 initial public offering as analysts turn increasingly optimistic ahead of third-quarter results. The Zara owner gained as much as 1.3% to €36.81 in Madrid trading last week, the highest intraday price since June 2017. The retailer’s fast-fashion business model and online presence have helped the shares ...

BLOOMBERG Consumers plan to spend an average of $567 during Black Friday and Cyber Monday shopping events, up 13% from last year, as they seek out the best deals while facing economic pressures such as higher prices and soaring interest rates. The result is a new record for Deloitte’s annual Black Friday-Cyber Monday survey. About 84% of shoppers feel confident ...

BLOOMBERG Richer Americans are curtailing their spending ahead of Black Friday, a worrisome sign for an economy that has so far depended on the US consumer to stave off a recession. In the three months ahead of the all-important holiday shopping season, a group of retailers that cater to the upper middle class — including Apple, Coach and Nordstrom — ...

BLOOMBERG DBS Group Holdings Ltd is looking to cash in on the boom in private credit by originating and distributing deals, according to the global head of fixed income at Southeast Asia’s largest bank. While the company is looking to pair up clients with private credit providers, it will steer clear of doing direct lending transactions itself to avoid conflicts ...

BLOOMBERG Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group Co is raising around $350 million selling part of its stake in Volvo Car AB, responding to investor concerns about the automaker’s limited free float. Geely, which owns a web of automotive interests in Europe, offered approximately 100 million shares in the company at 37 kronor ($3.49) apiece, according to a ...