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

BLOOMBERG Metro Bank Holdings CEO Daniel Frumkin indicated that Barclays Plc is among the possible buyers of a $3.7 billion mortgage portfolio the struggling lender put up for sale as it attempts to strengthen its balance sheet. Frumkin said the process had attracted significant interest from potential suitors including one not “dissimilar to what’s on your paycheck.”

BLOOMBERG A plan to whisk passengers around Paris in air taxis during the Olympic games next year faces a new challenge after manufacturer Volocopter GmbH said the advanced electric motors it needs for its two-seater craft have been delayed. Volocopter is working with the engine maker and continues test flights with other, less-refined motors as it seeks to obtain regulatory ...

BLOOMBERG The UK’s Information Commissioner’s Office issued Snap Inc, the maker of the Snapchat app, with a preliminary enforcement notice over the company’s generative artificial intelligence chatbot. The notice cited Snap’s potential failure to properly assess privacy risks from its My AI chatbot, the watchdog said in a statement. If a final notice is issued, the social media platform might ...

BLOOMBERG Wireless carriers balked at allowing Samsung Electronics Co to load its Galaxy S10 device with an app search capability that Google lacked, due to potential conflicts over their contracts with Google, a former Samsung investment adviser said at the search giant’s antitrust trial. “The carriers had concerns it cannibalised their existing search revenues,” said Patrick Chang, a former director ...

BLOOMBERG Dell Technologies Inc, the company which helped usher in the era of personal computing, said its most promising business now is the one that sells equipment for data centers. While Dell expects PCs to emerge from their slump and generate a long-term revenue increase of about 2.5%, the division that sells servers, data storage and other office infrastructure will ...

ABU DHABI / WAM Oxford Economics, an independent economic advisory firm, has predicted that the UAE economy will grow by 4.4% in 2024. This growth is being driven by a number of factors, including government initiatives to support economic diversification. In his statement to the Emirates News Agency (WAM), Scott Livermore, Chief Economist, Oxford Economics Middle East, and Managing Director, ...

ABU DHABI / WAM The COP28 Presidency has announced measures to support the representation and participation of women at the UN Climate Change Conference COP28 in th UAE. The measures include financial assistance to encourage stronger attendance of women delegates, technical training sessions, and support for an international conference. “Historically, the perspectives and leadership of women have been underrepresented in ...

ABU DHABI/ AD MEDIA OFFICE His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has attended a wedding reception hosted by His Highness Sheikh Tahnoun bin Mohammed Al Nahyan, the Ruler’s Representative in Al Ain, for the marriage of Sheikh Theyab bin Khalifa bin Sultan Al Nahyan to the ...

ABU DHABI/ WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of Presidential Court; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al ...

ABU DHABI/WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, and US Secretary of State Antony J. Blinken discussed, during a telephone conversation, the latest developments in the region, and the ongoing escalation between Israelis and Palestinians. During the call, H.H. Sheikh Abdullah stressed the importance of exercising the utmost restraint, noting that Gaza’s escalation forebodes dire ...