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

KUWAIT CITY/ WAM H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, today conveyed the condolences of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his sympathy to His Highness Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, Emir of the State of Kuwait, on the passing of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. This came as …

DUBAI/ GULF TIME “Art of Living Mall,” the first-of-its-kind shopping center specializing in innovative designs and furniture pieces in the United Arab Emirates and the Middle East and North Africa region, has announced the launch of its grand contest, offering the winner a chance to drive away with a luxurious Rolls-Royce car valued at one million seven hundred thousand Emirati …

BLOOMBERG Federal Reserve Chair Jerome Powell’s pivot towards interest-rate cuts is spreading holiday cheer in the White House, where the improved prospects for an economic soft landing are a boon for President Joe Biden’s bid for another term. Biden has seen his poll numbers sag amid voter anxiety over a surge in the cost of living, and he would face …

BLOOMBERG Alphabet Inc just got a reminder of how important the perception of having a winning AI strategy is for investors. The Google owner added $87 billion in market value in a single day after showing off the capabilities of its Gemini large language model, which it claims can rival OpenAI’s ChatGPT. To sustain those gains, Alphabet needs to show …

BLOOMBERG The rally in Apple Inc, the world’s most valuable publicly traded company, is showing no signs of easing. After closing at a record high, the iPhonemaker’s market value is approaching that of Europe’s largest stock market: France. The combined market value of companies listed in Paris was about $3.2 trillion as of last week’s close, versus the technology giant’s …

BLOOMBERG China displayed its aircraft-manufacturing credentials by conducting a flyby of Hong Kong’s Victoria Harbour with a domestically made passenger plane designed to take on Airbus SE and Boeing Co narrowbodies. Commercial Aircraft Corp of China Ltd, the official name of planemaker Comac, flew its C919 jet around the harbor in two loops on Saturday morning, going as low as …

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has organised field visits for 217 participants in COP28 to the Mohammed bin Rashid Al Maktoum Solar Park. Most of the visitors were from outside the UAE. The visits, which were organised during COP28, included the Innovation Centre and the 4th phase of the solar park. The guests praised the Innovation …

BLOOMBERG Indian carrier SpiceJet Ltd reported a net loss of 4.32 billion rupees ($52 million) for the three months through September, ending a run of three quarters of profits as more than a third of its planes were grounded. Second-quarter revenue fell 27% from a year earlier to 14.3 billion rupees, while total costs fell by the same amount to …

BLOOMBERG Another Indian airline backed by a billionaire is on the brink of shutting down for good, having tried and so far failed to attract a savior after entering bankruptcy protection in May. Go Airlines India Ltd’s chances are fading. Chief Executive Officer Kaushik Khona quit at the end of November, saying he couldn’t get the carrier flying again and …

SHARJAH / WAM The Sharjah Shopping Promotions 2023 kicked off on Friday with an opening event that delighted audiences, bringing smiles to the faces of all. Organised by the Sharjah Chamber of Commerce and Industry (SCCI), Sharjah Shopping Promotions is a leading promotional and entertainment event featuring countless programmes and shopping deals throughout the various regions and cities of Sharjah. …