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 President His Highness Sheikh Mohamed bin Zayed Al Nahyan has received messages of congratulations from Their Highnesses and Majesties, Presidents, Kings and Princes of world countries, on the occasion of the New Year 2024. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed ...

BLOOMBERG UK consumers are increasingly worried about their financial security and holding tighter to their purse-strings heading into 2024, reviving concerns that the economy could tip into a recession. While inflation has now fallen or remained steady for nine consecutive months, 41% of consumers say they’re feeling less financially secure than at the end of 2022, according to a survey ...

BLOOMBERG Nvidia Corp, the world’s most valuable chipmaker, is selling a less-capable version of its best graphics product for video gamers in China, after the US government tightened restrictions on what the company can market in that country. The version of the GTX 4090 D chip that is listed for sale on Nvidia’s China website has about 10% fewer processing ...

BLOOMBERG Huawei Technologies Co’s revenue surged 9% in 2023, capping a dramatic year for a Chinese technology powerhouse that challenged Apple Inc and US sanctions with a surprise breakthrough in chip technology. Sales jumped to more than 700 billion yuan ($98.7 billion), their fastest pace of growth in years thanks to a resurgent smartphone business and robust 5G equipment sales. ...

BLOOMBERG General Motors (GM) Co said in a lawsuit that San Francisco unfairly taxed it $108 million over seven years, despite the automaker having very low sales and almost no personnel in the city. The company said that San Francisco used the presence of its Cruise self-driving unit to tie its tax bill to a portion of GM’s global revenue, ...

BLOOMBERG The billionaire co-founder of Xiaomi Corp Lei Jun unveiled the company’s first electric vehicle (EV), declaring ambitions to become a top global carmaker in 15 to 20 years and compete against Tesla Inc and Porsche AG. Lei spent hours detailing the SU7’s features, which include a range of up to 800 kilometres (500 miles) on a single charge, adjustable ...

RAS AL KHAIMAH / WAM Ras Al Khaimah welcomed the New Year with yet another record-breaking eight-minute-long firework and drone display setting two new Guinness World Records titles in a stunning spectacle that lit up the skies along 4.5 km stretch of Ras Al Khaimah’s waterfront. Already holding several Guinness World Records titles for its legendary fireworks New Year’s Eve ...

ABU DHABI / WAM The Abu Dhabi Judicial Department (ADJD) announced the commencement of directly managing the penal and correctional institutions and juvenile facilities in the Emirate of Abu Dhabi. Under the Law issued by President His Highness Sheikh Mohamed bin Zayed Al Nahyan, in his capacity as the Ruler of the emirate of Abu Dhabi, regarding penal and correctional ...

ABU DHABI / WAM Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said that the UAE’s Comprehensive Economic Partnership Agreement (Cepa) programme has enjoyed exponential growth in 2023, with three deals implemented, two more signed and awaiting implementation, and four agreed — taking the total number of Cepa partners since the launch of the programme to 10 across ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Miguel Diaz-Canel of Cuba, on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy ...