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

  Bloomberg Mark Zuckerberg, saying it’s the first time he’s testified in a trial, vehemently denied claims that the virtual-reality headset maker acquired by Facebook Inc. in 2014 had stolen technology for the Oculus Rift. Facebook’s co-founder and chief executive officer, who has hailed virtual reality as his company’s next big thing, was called to the witness stand by ZeniMax ...

    BOSTON / AP Imagine you’re behind the wheel when your brakes fail. As you speed toward a crowded crosswalk, you’re confronted with an impossible choice: veer right and mow down a large group of elderly people, or veer left into a woman pushing a stroller. Now imagine you’re riding in the back of a self-driving car. How would ...

  Bloomberg Facebook Inc. will open a startup incubator at Paris’s soon-to-debut entrepreneur campus created by billionaire Xavier Niel, as Chief Operating Officer Sheryl Sandberg vows to keep investing in France. The company will have engineers on the ground at incubator-campus Station F and offer workshops to entrepreneurs, Sandberg said at an event in Paris, alongside Niel, site director Roxanne ...

  Relaxnews Kaminario Inc., a flash-storage company that develops its products in Israel, closed a fundraising round of $75 million — nearly double the expected amount — and will use the money to expand in Asia and Europe and boost technology development to gain market share. The Needham, Massachusetts-based company competes with multinational giants such as Dell Technologies Inc. and ...

  ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) said on Tuesday it would implement a host of measures to increase energy efficiency by 10 percent by 2020. The energy efficiency strategy will reduce ADNOC’s gas consumption by 156 million cu. ft a day, thus saving a total of US$1 billion by that time. The initiatives to ...

  ABU DHABI / WAM The UAE announced a landmark new US$50 million grant fund for renewable energy projects in Caribbean island countries. Launched by Reem bint Ibrahim Al Hashemi, Minister of State for International Cooperation, the UAE-Caribbean Renewable Energy Fund represents one of the largest-ever single investments in the region’s clean energy sector, as well as a significant deepening ...

  ABU DHABI / Emirates Business Abu Dhabi Fund for Development (ADFD) met a delegation from Costa Rica led by Luis Guillermo Solís, President of Costa Rica, at the Emirates Palace in Abu Dhabi. Welcoming the delegates, His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, discussed bilateral relations between the UAE and Costa Rica with the visiting President ...

  ABU DHABI / WAM Masdar, Abu Dhabi’s renewable energy company, signed a cooperation agreement with Qatar Electricity and Water Company (QEWC), and Nebras Power, at Abu Dhabi Sustainability Week, to develop renewable and sustainable energy projects. In the presence of Dr. Sultan Al Jaber, Minister of State, the agreement was signed by Fahd bin Hamad Al Mohannadi, General Manager ...

  ABU DHABI / Emirates Business The UAE Ministry of Economy (MOE) signed a Memorandum of Cooperation (MOC) with its counterparts from Japan on key aspects concerning innovation and small and medium enterprises (SMEs) to promote joint initiatives, knowledge and technology transfer, the exchange of experiences, and the streamlining of business operations of SMEs located across the UAE. The initiative ...

  Abu Dhabi / WAM Masdar, Abu Dhabi’s renewable energy company, has acquired a stake in Hywind Scotland, a 30-megawatt (MW) floating offshore pilot wind farm in the North Sea. Dr Sultan Al Jaber, UAE Minister of State and Chairman of Masdar; Dr Thani Al-Zeyoudi, Minister of Climate Change and Environment; Tone Skogen, State Secretary in the Ministry of Foreign Affairs, ...