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

ABU DHABI / WAM Under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President, the UAE has built a field hospital in the Chadian city of Amdjarass to support Sudanese refugees. The initiative is the result of joint cooperation between three humanitarian entities in the UAE represented by the Emirates Red Crescent, Zayed Bin Sultan Al ...

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Director-General of the Prime Minister’s Office and Chairman of the UAE Council for Artificial Intelligence and Blockchain, stated that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the directives of His Highness ...

SHARJAH / WAM The Sharjah Investment and Development Authority (Shurooq) has unveiled spectacular offerings across its fully-integrated and serviced world-class destinations to enable locals, residents and tourists to unlock the best of Sharjah all summer. From discounts of up to 50 percent on tickets to top attractions, to engaging kids’ summer camps and thrilling adventure activities, to exciting prizes and ...

BLOOMBERG  The European Central Bank (ECB) is nearly finished raising interest rates, but will then keep them at a “high plateau” to ensure they fully impact the economy, Governing Council member Francois Villeroy de Galhau said. The ECB’s record cycle of tightening will bring inflation towards its target of 2% by 2025, the Bank of France governor said. Price growth ...

BLOOMBERG  UBS Group AG named Sylvia Coutinho Brazil country head and the regional leader for Latin America businesses as the Swiss bank integrates teams from its acquisition of Credit Suisse Group AG. Marcello Chilov, Credit Suisse’s former chief executive officer in Brazil and head of wealth management for Latin America, will run UBS global wealth management in Latin America, according ...

BLOOMBERG  Bank of England (BOE) Governor Andrew Bailey rejected the need for an inflation target higher than 2%, warning that changing the goal could damage the bank’s credibility and “unpick expectations.” He told a conference in Aix-en-Provence in France that the BOE can be flexible about timing but that it’s “absolutely critical that that flexibility isn’t confused with people thinking ...

BLOOMBERG  Switzerland’s lenders are strong enough to cope with possible additional interest-rate increases by the Swiss National Bank (SNB), its vice president, Martin Schlegel, told Schweiz am Wochenende. Most lenders have sufficient capital buffers to handle even an abrupt increase in borrowing costs, Schlegel said in an interview published in the weekly newspaper. While further monetary tightening could lead to ...

ABU DHABI/ WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Friday met with a number of former classmates and their families. During the meeting, His Highness engaged in conversation with those present, expressing his happiness to be meeting with them again and recalling fond memories of their time spent together. Also in attendance was His Highness ...

ISLAMABAD / WAM  COP28 UAE President-Designate Dr Sultan Al Jaber met the Prime Minister of Pakistan Shehbaz Sharif, senior government and diplomatic officials and youth climate advocates in Islamabad as part of his global listening and engagement tour. During his visit, he called for greater collaboration on climate and support for developing countries on the frontlines of climate change. Dr ...

ABU DHABI / WAM 42 Abu Dhabi, the first GCC campus of the internationally renowned 42 Network of coding schools, celebrated the 42 Network’s international recognition as the 6th Most Innovative University in the World’s Universities with Real Impact (WURI) Global Top 100 Most Innovative Universities ranking. The 42 Network also ranked number one in the Ethical Value Category of ...