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

BLOOMBERG It is still early days, but Meta Platforms Inc’s latest app, Threads, could generate some serious cash for the social media giant in the next couple of years, according to Evercore ISI. Threads will reach close to 200 million daily active users and generate about $8 billion in annual revenue over next two years, Evercore ISI analysts led by ...

BLOOMBERG Samsung Electronics Co reported its worst decline in quarterly revenue since at least 2009, stoking uncertainty over when a year-long electronics and memory chip demand slump will end. The stock slid 2.4% in Seoul, the most in three months, after Samsung reported a larger-than-anticipated 22% decline in sales to 60 trillion won ($46 billion). Operating profit plunged 96% in ...

DUBAI / WAM Deyaar Development PJSC has announced the launch of Jannat, the final residential district of Deyaar’s flagship community project Midtown, which will be completed by Q2 2026. The district of Jannat, with a built-up area of 521,400 square feet (sq ft), comprises two towers seamlessly connected by a bridge and is strategically located at the heart of Midtown ...

ABU DHABI / WAM The Emirates Red Crescent (ERC) has organised a “Knights of Humanity” event to honour the volunteers of the Syrian Arab Red Crescent in four Syrian provinces. The ERC’s move is part of Operation Gallant Knight 2, launched by the Joint Operations Command of the Ministry of Defence. It aimed to recognise the UAE’s continuous humanitarian and ...

DUBAI / WAM Dubai real estate market recorded 602 sales transactions worth AED1.86 billion, in addition to 104 mortgage deals of AED244.26 million, and 18 gift deals amounting to AED108.8 million on Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 513 villas and apartments worth AED1.18 billion, and 89 land plots worth AED682.89 million. The mortgages ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to the Governor-General of the Commonwealth of the Bahamas Cornelius Alvin Smith on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ...

ABU DHABI / WAM Neoply, a leading South Korean blockchain technology company, will establish its global headquarters in Abu Dhabi with support from the Abu Dhabi Investment Office (Adio), underscoring the UAE capital’s appeal as a magnet for innovation-driven companies. Neoply is joining Adio’s Innovation Programme, which supports the growth of tech-focused industries in the UAE capital. Neoply provides a ...

ABU DHABI / WAM 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 Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, have sent a message of congratulations to Xanana Gusmão on the occasion of his appointment as Prime ...

DUBAI / WAM Saeed Mohammed Al Tayer, CEO of Dubai Electricity and Water Authority (Dewa), inaugurated an online webinar organised by Dewa to introduce 61 French companies to the business and investment opportunities presented by Wetex and DSS. The event was attended by Axel Baroux, the French Trade and Invest Commissioner, and Regional Director of Business France in the Middle ...

ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi – Kezad Group, the largest operator of integrated and purpose-built economic zones in the UAE, on Monday announced that it has signed an agreement with its client Global Fluorine Chemical Factory LLC (GFCF) for the establishment of its phase two in Kezad Mussafah, which will allow the company to triple its ...