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

  SAN FRANCISCO / AP Few people realized it at the time, but the world shifted fundamentally a decade ago when Steve Jobs pulled the first iPhone from Apple’s bag of technological tricks. “Every once in a while, a revolutionary product comes along that changes everything,” Jobs declared as he paced across a San Francisco stage. It obviously wasn’t an ...

  Bloomberg Alphabet Inc. is in talks to sell the Skybox Imaging satellite business it acquired for $500 million less than three years ago, another sign the technology giant is ratcheting back grand ambitions to blanket the globe with internet service. Planet, a satellite imaging startup former known as Planet Labs, may acquire Skybox, according to people familiar with the ...

  Reuters Messaging app Snapchat said it would make London the home of its international operations, delivering another vote of confidence in Britain’s tech standing as the country prepares to leave the European Union. The company, which has 150 million daily users globally, will book sales in countries where it has no local entity in Britain rather than routing them ...

  Bloomberg Team8, founded by veterans of an elite Israeli intelligence unit to solve what they consider the world’s most pressing cybersecurity problems, welcomed Citigroup Inc. and the venture arms of Microsoft Corp. and Qualcomm Inc. into its syndicate. The group of military veterans, who have raised more than $92 million, plan to launch two companies this year. Existing portfolio ...

  DUBAI / WAM Dubai-based developer Nakheel and Thai hotel group, Centara Hotels and Resorts, on Monday signed a joined venture agreement to create a 550-room, AED500 million beachfront resort with waterpark on Deira Islands in Dubai. Under the agreement, signed in Bangkok by Nakheel Chairman, Ali Rashid Lootah, and Centara Chairman, Suthikiati Chirathivat, the two companies will deliver an ...

  ABU DHABI / WAM The National Bank of Abu Dhabi (NBAD) announced the successful placement to institutional investors of a 30-year senior unsecured Formosa Bond, for a total nominal amount of US$885 million. The transaction follows NBAD’s inaugural US$696 million public Formosa Bond in October last year, the first 30 year Formosa Bond from the MENA region, which brings ...

  AJMAN / WAM The executive team of the Ajman Electronic Government discussed on Monday the progress in Ajman’s Digital Transformation Plan 2017-2022 and the mechanisms and initiatives to implement the plan in various operational sectors in the emirate. The team also reviewed the first 100-day plan of action, which aims to transform 30 top-priority services into e-services in sync ...

  DUBAI / WAM Dubai Financial Market (DFM) briefed a Kazakh delegation on Dubai’s leading position as a dynamic capital markets hub as well as DFM’s active role in further strengthening this position. This came up during the visit of a delegation from Kazakhstan’s Astana International Financial Centre (AIFC) to DFM, where the parties explored potential areas of cooperation. Headed ...

  ABU DHABI / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, and Hans Joerg Schelling, Austrian Minister for Finance, met on Monday in Abu Dhabi to discuss how best to enhance friendly relations and co-operation between the UAE and Austria. The duo discussed areas of co-operation and co-ordination in the economic, ...

  Dubai / WAM Relevant authorities should intensify efforts and employ capable human resources to focus on conducting scientific researches and studies in the healthcare sector, and keep pace with the latest developments in medical technology and equipment, treatment techniques, medicines and rare surgeries that all contribute towards enhancing public health, urged His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice ...