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

BLOOMBERG European stocks and US equity futures pared losses sparked by China’s economic woes, while bonds gained amid signs of easing inflation. The Stoxx Europe 600 index pulled back from its lowest level in almost two months. China-exposed luxury-goods makers LVMH and Richemont remained among the biggest laggards, while Swedish landlord SBB plunged to an all-time low after its CEO ...

BLOOMBERG The crypto rebound is losing steam, leaving Bitcoin on course for its worst month since the FTX exchange collapsed in November 2022. The roughly 8% drop in May is Bitcoin’s first monthly retreat of 2023. A gauge of the top 100 digital assets has dropped by a similar magnitude. The largest crypto coin bounced 84% from the turn of ...

DUBAI / WAM H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, accompanied by H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, on Tuesday visited Thukhor Social Club, an initiative of the Higher Committee for Development and Citizens Affairs, located at Al ...

ABU DHABI / WAM Siegfried Nierhaus, Vice President Middle East, Deutsche Hospitality, affirmed that the UAE has positioned itself as a key player in the GCC hospitality and leisure sectors, quickly becoming a global hub for the tourism industry and hotel developments. “The UAE’s innovative forward-thinking and adaptability have resulted in a significant influx of international tourists due to its ...

DUBAI / WAM Standard Chartered announced on Tuesday its exclusive partnership of the DIFC Treasury Leadership Forum, marking a new milestone in the collaboration between Standard Chartered and Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (Measa) region. Organised by DIFC, the forum will bring together senior treasurers from leading ...

ABU DHABI / WAM The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) held a bilateral meeting in Abu Dhabi to enhance collaboration between the financial services sectors of the two jurisdictions. During the meeting, the CBUAE and the HKMA discussed a number of collaborative initiatives and agreed to strengthen cooperation in three ...

ABU DHABI / WAM The UAE’s healthcare sector is continuing to excel and lead regionally and globally in 2023 in terms of medical services and scientific achievements, reaffirming its readiness to face all health challenges, and in line with the best international standards. According to the Prosperity Index report by the Legatum Institute, the UAE ranked first in three key ...

MANAMA / WAM Menafatf, the Financial Action Task Force (FATF)-Style Regional Body, adopted its FATF Recommendations ratings for the United Arab Emirates at the closing of its May plenary in recognition of its efforts to combat money laundering and terrorism financing. Recommendations (1), (19), and (29) have been upgraded to “Compliant” or “Largely Compliant” in response to the positive measures ...

DUBAI / GULF TIME The prestigious ASA Ayurveda Center at The Retreat Palm Dubai MGallery by Sofitel hosted its inaugural event on Sunday, 28th May. The event witnessed the presence of esteemed dignitaries, including H.E Dr. Mubarak Hamad Marzooq Alameri, and Mr. Huzaifa Ibrahim, the esteemed Founder of Friends of Parkinson’s UAE. The ASA Ayurveda Center, nestled within the serene ...

VENICE / WAM “The UAE has been a laboratory for many years now, it is a laboratory of the past, present and future,” stated Roberto Cicutto, president of La Biennale di Venezia, in an interview with the Emirates News Agency (WAM), during the inauguration of Aridly Abundant, the exhibition presented by the National Pavilion UAE — La Biennale di Venezia ...