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

BLOOMBERG Nasdaq futures rallied as a strong outlook from Nvidia Corp gave fresh impetus to the artificial intelligence (AI) hype that’s boosting tech stocks this year. Nvidia advanced 7.9% in premarket trading after the chipmaker delivered a third straight sales forecast that beat analysts’ estimates, while tech giants such as Apple Inc and Microsoft Corp also rose. Contracts on the ...

BLOOMBERG Chinese real estate stocks are close to losing all the gains notched during last year’s massive reopening rally as troubles mount for the debt-laden sector. A Bloomberg Intelligence gauge of real estate stocks trading on the mainland and in Hong Kong is less than 3% away from piercing below its end-October trough, which was the lowest since 2011. The ...

ABU DHABI / WAM In his capacity as the Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a law regarding punitive and correctional establishments in Abu Dhabi. The law shall transfer the responsibility of managing punitive and correctional establishments, as well as juvenile facilities in Abu Dhabi, from Abu Dhabi ...

HONG KONG / WAM Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation (HKSTP), has revealed the corporation’s plans to expand its operations and attract more companies from the UAE and the Middle East to explore business opportunities in Hong Kong. Hong Kong is building a green tech and green finance hub, with HKSTP set to host a ...

CAIRO / WAM Jamal Jaballah, Former Plenipotentiary Minister of the Arab League and Former Coordinator of the Arab Negotiating Group on Climate Change, said the UAE’s hosting of COP28 is a source of honour for every Arab, as it is one of the world’s largest gatherings. In his statement to the Emirates News Agency (WAM), Jaballah lauded the UAE’s pivotal ...

DUBAI / WAM National Bonds, the savings and investment company, said that 82 percent of employees in the UAE are open to employers investing in their end-of-service benefits. This insight strongly aligns with National Bonds’ strategic objective of introducing new saving solutions that cater to different segments of the population. In line with the growing demand for such solutions, and ...

DUBAI / WAM The Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show (DSS) is a platform that sheds light on the sustainable circular economy in the UAE. It encourages global partnerships and investments to support innovation and adopt sustainable solutions and technologies in this field. This contributes to reducing risks, greenhouse gas emissions and costs. It also ...

DUBAI / WAM Emirates, the world’s largest international airline, marks one of its busiest summers ever, carrying over 14 million passengers with average seat load factors exceeding 80 percent across its global network between June and August. Looking at the coming months, Emirates’ booking trends show unabated demand for international travel across its network. Destination Dubai remained popular amongst travellers, ...

ABU DHABI / WAM The UAE, represented by the Ministry of Finance (MoF), as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the third dirham-denominated Islamic Treasury Sukuk auction (T-sukuks), which is part of the T-sukuks issuance program for 2023. The third auction of the ...

ABU DHABI / WAM AD Ports Group has completed a number of initiatives under “The Abu Dhabi Programme for Effortless Customer Experience,” a pioneering new model that enables effortless customer experiences across Abu Dhabi Government. Spearheaded by the group’s Economic Cities and Free Zones, and Digital clusters, the initiatives aimed at enhancing the omnichannel experience for clients at Kezad. From ...