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

DUBAI / WAM Dubai Healthcare City (DHCC) has organised an engaging Riders Sports Day for more than 100 delivery riders from Deliveroo, Careem, InstaShop and Noon. The event gave riders an opportunity to participate in friendly competition across a range of sports, including basketball, football, padel and cricket, and was created to promote the positive impact of physical activity on ...

DUBAI / WAM Rashid Abdulla Al Qaseer, Deputy Director of Ministry of Foreign Affairs’ (MoFA’s) Dubai Office met with Angelice Schempp, Consul-General of the Swiss Confederation in Dubai and received her credentials. Al Qaseer welcomed the Consul-General and hailed the political, economic, commercial and investment relations that bind the two friendly countries, wishing her success in his duties.

ABU DHABI / WAM Vietnam and the UAE are expected to conclude the Comprehensive Economic Partnership Agreement (Cepa) this year, which will add new vigour to the 30th anniversary celebrations of diplomatic relations between the two countries, a top Vietnamese diplomat told the Emirates News Agency (WAM). “During the past 30 years, the friendship and cooperation between Vietnam and the ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Zuzana Čaputová of Slovakia on the occasion of her country’s Constitution Day, observed on September 1. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His Highness Sheikh ...

BLOOMBERG New allegations over governance issues at India’s Adani Group put the brakes on a recovery in the conglomerate’s market value from carnage in the wake of US-based short-seller Hindenburg Research’s report earlier this year. Adani-related stocks plunged after an investigation raised questions about the group’s ownership structure and trades by certain entities associated with its founders. The ports-to-power conglomerate ...

BLOOMBERG Markets settled into a holding pattern befiore key US jobs data, with European stocks and American equity-index futures edging higher, Treasury yields flat and a gauge of the dollar steady. Energy majors were the outperformers in the Stoxx Europe 600 index as crude oil headed for the biggest weekly advance since April. Miners jumped as China’s latest stimulus measures ...

BLOOMBERG Seven & i Holdings Co has finalised the sale of its Sogo & Seibu Co department store chain amid a strike by employees at the flagship shop in central Tokyo on concerns the deal may jeopardise their jobs. The sale to Fortress Investment Group will close at an enterprise value of about ¥220 billion ($1.5 billion), according to a ...

BLOOMBERG Marks & Spencer (M&S) Group Plc has launched a legal challenge against the UK government’s decision to reject a plan for a new store in Marble Arch, central London where the retailer has had a presence for nearly a century. The clothing and food retailer lost government backing in July for a proposal to demolish its flagship art deco ...

BLOOMBERG Uniqlo owner Fast Retailing Co’s global business head will become chief operating officer, as the retail giant grooms the next generation of leaders who might one day take the reins from founder Tadashi Yanai. Daisuke Tsukagoshi begins his new role from September 1, the Japanese company said in a statement. The appointment is part of strategy to strengthen management ...

BLOOMBERG Cosmetics-maker Elf Beauty Inc has agreed to acquire drugstore skincare brand Naturium for $355 million in cash and stock. The deal is expected to double Oakland, California-based Elf’s share of retail sales in skincare to about 18%, according to a statement. “Elf SKIN is one of the fastest growing skin care brands, and Naturium joining Elf Beauty presents a ...