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

BLOOMBERG Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter. A takeover of the Wistron Corp factory in southern Karnataka state, potentially valued at more than $600 ...

BLOOMBERG The buoyant mood sparked by China’s latest economic support measures didn’t last long on Tuesday as European stocks and US futures wavered after policy makers’ warnings of higher-for-longer interest rates. The Stoxx Europe 600 index pared an early gain after Governing Council member Francois Villeroy de Galhau said the European Central Bank is nearly finished hiking, but added that ...

BLOOMBERG China’s monetary and fiscal stimulus measures will only go so far to lift its stock market, with structural reforms necessary for a long-term boost, according to Allianz Global Investors. “It’s a confidence issue,” Raymond Chan, the firm’s equity chief investment officer for the Asia Pacific, said in an interview. Reforms to China’s heavyweight property sector and listed companies overall ...

SAUDI ARABIA / GULF TIME Al Baddad Saudi Holding breaks the Guinness World Recordsâ„¢ title for the Largest Marquee Complex (Cumulative Area) Albaddad Capital, through its arm in the Kingdom of Saudi Arabia, Albaddad Saudi Holding and Albaddad Manasik achieved a new and unique achievement by breaking the Guinness World Recordsâ„¢ title for the Largest Marquee Complex (Cumulative Area), as ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Shavkat Mirziyoyev on his re-election as President of the Republic of Uzbekistan. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed ...

HIRSHABELLE / WAM The Emirates Red Crescent (ERC) has intensified its humanitarian efforts to support those affected by the floods that hit the Beledweyne area of Hirshabelle, Somalia. In collaboration with relevant authorities in the state, the ERC, through its office in Mogadishu, provided urgent and diverse relief assistance to thousands of affected families suffering after the devastating floods. The ...

ABU DHABI / WAM The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate, has set Emiratisation targets “Tawteen” for all healthcare facilities operating in Abu Dhabi to provide 5,000 new job opportunities for UAE nationals until the end of the year 2025. DoH called on all healthcare facilities in the emirate to ...

ABU DHABI / WAM The UAE ranked seventh in the world in terms of per capita national income, according to the latest data released by the World Bank. The per capita income in the UAE, based on purchasing power parity (PPP) in current international dollars, rose to Int$87,729 in July 2022, an increase of Int$10,781 from 2021. The international dollar ...

SHARJAH / WAM Arada has reported a record-breaking sales performance during the first half of the year, as buyer demand for its lifestyle communities in Sharjah and Dubai continues to gather pace. The master developer posted a 186 percent increase in sales in the first six months of 2023 compared to the same period in the previous year, with the ...

BLOOMBERG Apple Inc is planning a retail launch of its Vision Pro headset with appointments and in-store promotion in select US markets early next year, underscoring the niche and complex nature of the mixed-reality device. The company will designate special areas in the stores with seating, headset demo units and tools to size accessories for buyers. While the device will ...