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

DUBAI / WAM Abdulla Nasser Lootah, Deputy Minister of Cabinet Affairs for Competitiveness and Knowledge Exchange, expressed the UAE’s unwavering dedication to advancing its global engagement and preparedness for the future through forging meaningful global partnerships to empower governments, support comprehensive development efforts, and build a better world for future generations. This aligns with the vision of President His Highness ...

BLOOMBERG Ford Motor Co’s is throttling back on plans to ramp-up electric vehicle production, pointing the finger at a price war for battery-powered vehicles. The automaker said it would need another year to meet a year-end target to reach an annual production rate of 600,000 EVs, which it now expects to reach in 2024. Ford also abandoned plans to be ...

BLOOMBERG China Evergrande New Energy Vehicle Group Ltd plunged as trading resumed in its shares for the first time since April 2022, wiping $2.8 billion off the company’s market value in Hong Kong. The China Evergrande Group unit was down 62%, having fallen as much as 69% when trading started, leaving it with a market value of about $1.7 billion. ...

BLOOMBERG Chinese equities have staged a sharp rebound as Beijing makes the right noises on the policy front, and some key market indicators are pointing to more gains. Bullish technical formations, an improving earnings outlook and rising inflows augur well for stocks after key gauges in Hong Kong and the mainland capped their biggest monthly rally since January. While equities ...

BLOOMBERG The stocks rally that catapulted the S&P 500 to a 16-month high lost momentum after a flurry of companies reported disappointing earnings. BMW AG dropped more than 6% after warning about higher costs for developing electric cars, while logistics giant DHL Group gave a profit guidance that missed analyst estimates. ZoomInfo Technologies, which makes business software, plunged 20% in ...

DUBAI / WAM Dubai Airports has welcomed Air Canada’s first inbound flight at Dubai International (DXB) Terminal 3, making it the fourth international airline to operate out of the terminal. Air Canada flight AC056 from Toronto, arrived at its new base, one of the largest airport terminals in the world, at 18:56 UAE time on Wednesday. Air Canada flights previously ...

ABU DHABI / WAM AD Ports Group and Saab UAE, a leading defence and security company based in Abu Dhabi’s Tawazun Industrial Park, have signed a memorandum of understanding (MoU) to establish a strategic cooperative relationship, which will see both entities collaborate on develping maritime surveillance solutions and sensors. Under the agreement, AD Ports Group will provide access to relevant ...

DUBAI / WAM Emirates NBD has signed the UAE Climate-Responsible Companies Pledge initiated by the UAE Ministry of Climate Change and Environment. Emirates NBD Group is among the seventh cohort of 15 signatories in the UAE to sign the pledge, commit to implementing carbon emission reduction goals, and follow more sustainable methods in managing their operations, according to a timeline ...

DUBAI / WAM Poland’s remarkable achievements in green technology are gaining global recognition as it showcases its innovative ideas at the Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show (DSS) in Dubai, UAE. Organised annually by the Dubai Electricity and Water Authority (Dewa), the upcoming Wetex and DSS events will be held from November 15-17 at the ...

DUBAI / GULFTIME Celebrating its first opening anniversary in the heart of Dubai, the fine jewellery brand of Alaghband has successfully managed to capture the hearts of an exceptionally dedicated customer base who value precious gemstones and exquisite fine jewellery. Established by Mohammad Ali Alaghband in 2009, the brand has become the essence of magnificence and perfection within the field ...