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

BLOOMBERG The coders who maintain Bitcoin’s blockchain are clashing over whether to stamp out the meme tokens swarming the network. A torrent of speculative coins led to a record number of transactions and an 11-fold spike in processing fees on the blockchain in May, creating a logjam and forcing the Binance exchange to temporarily halt Bitcoin withdrawals. The tumult has ...

ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Chairman of the Higher Committee Responsible for Overseeing Preparations for the 28th Conference of the Parties to the UNFCCC (COP28 UAE), received here the US Special Presidential Envoy for Climate, John Kerry, to review the strategic relations between the two nations and the existing ...

ABU DHABI / WAM In the presence of HH Sheikh Hamed bin Zayed Al Nahyan, the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) on Sunday hosted commencement for the Class of 2023, its second cohort, strengthening AI talent capacity and contributing solutions to global challenges, including health, education, and climate. The MBZUAI commencement ceremony celebrated 59 students graduating with ...

DUBAI/ WAM Driven by the banking giants’ continuous quest for digital excellence and in line with its ambitious transformation strategy, the financial powerhouse announced on Sunday the launch of DIB alt, a full-fledged digital umbrella brand to house all of the bank’s digital offerings and capabilities under one roof. DIB ‘alt’ is not another bank, or another mobile banking app, ...

ABU DHABI / WAM AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a 25 years agreement with Singapore based Crystal Offshore, a recognised one-stop logistics solution provider to the marine & offshore industry. Under the agreement’s terms, a 20,000 square metre plot of land and an associated quay wall in Khalifa Port will be ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai. The trade mission, organised by the Sharjah Exports Development Centre, visited Indian capital and commercial hub to discuss potential investment advantages and ...

BLOOMBERG  Standing by vast, ash-coloured coalfields, miner Rabi Behera expressed few doubts about the job at hand. To cope with increasingly brutal temperatures, India has to keep its power grid standing— and for now that means digging up ever expanding quantities of the dirtiest fossil fuel. “It’s hard to survive without electricity during the summer,” he said, giant trucks rumbling ...

BLOOMBERG  Wells Fargo & Co is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said they’ve agreed to work with a former federal judge to try to resolve a group of class-action lawsuits — ...

BLOOMBERG  UBS Group AG may delay releasing its second-quarter results until end-August when it could also provide an update on its plans for Credit Suisse Group AG’s local business, the Financial Times reported. UBS is due to report its earnings on July 25, but complexities include unfinalised details of government support in its emergency takeover of Credit Suisse and different ...

BLOOMBERG  Investors who took out long positions in the euro could be in for some respite, even as a shaky outlook for the economy continues to stalk common currency. Slowing inflation and fading optimism about the region’s growth sent the euro to its worst month since April 2022. Short-term bets against the euro using currencies other than the dollar are ...