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

BLOOMBERG First Republic Bank’s week of harrowing stock drops and urgent work towards a deal to shore up its balance sheet ended with the lender’s fate in limbo. The Federal Deposit Insurance Corp (FDIC), keeping tabs on the bank’s deposits and funding, hasn’t reached a decision on intervening at the troubled lender, according to people with direct knowledge of the ...

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, received the team of the Sharjah Football Club, which was crowned with the UAE President’s Cup, on Sunday, at Al Badi’ Palace, and directed a reward of AED10 million for the team. This came in the presence of HH Sheikh Sultan ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, congratulated H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, on the Sharjah FC’s win of the UAE President’s Cup. Sheikh Mansour also congratulated the Sharjah football team, their technical and ...

ABU DHABI / WAM Make a Wish Foundation UAE joined the international community in celebrating the World Wish Day 2023, which is celebrated on April 29 every year. Sheikha Shaikha bint Saif bin Mohammed Al Nahyan, wife of HH Dr Sheikh Sultan bin Khalifa Al Nahyan, Adviser to the UAE President, and Honorary President of “Make a Wish” foundation, said, ...

DUBAI / WAM His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Board of Directors of the Federal Tax Authority (FTA), chaired the second meeting of the FTA Board of Directors for the year 2023. During the meeting, the board approved the authority’s financial ...

FUJAIRAH / WAM His Highness Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, met with Gurudev Sri Sri Ravi Shankar, the Indian spiritual leader, and Founder of the Art of Living, an international, non-profit, educational and humanitarian organisation. Discussions were held throughout the meeting on a variety of subjects including the promotion of noble human values, ...

DUBAI / WAM The Ministry of Health and Prevention (MoHAP) has taken a step forward in its mission to enhance the capabilities of its workforce by partnering with Coursera, one of the world’s top online learning platforms. Under the agreement, MoHAP’s employees will have access to specialised educational courses and workshops as part of an integrated educational and training plan ...

BLOOMBERG Amazon.com Inc reported quarterly profit that topped estimates as cost cuts and surprisingly strong sales in the cloud-computing division helped the e-commerce giant weather an uncertain economy. The shares were little changed in extended trading, giving back earlier gains of as much as 12%. First-quarter revenue increased 9.4% to $127.4 billion, the company said in a statement, above expectations ...

BLOOMBERG Southwest Airlines Co is ready to move on from the technology meltdown that upended operations back in December. That doesn’t mean its reputation has recovered. “There is definitely work to do to get confidence in Southwest back to where it was pre-pandemic,” Chief Executive Officer Bob Jordan said in an interview after the carrier reported first-quarter results. “We’re focussed ...

BLOOMBERG American Airlines Group Inc said its second-quarter profit may exceed Wall Street projections as international demand builds headed into the peak summer season. Adjusted profit will be $1.20 to $1.40 a share in the quarter, American said in a statement, compared with an expected $1.13 a share on average from analyst estimates compiled by Bloomberg. The company reiterated its ...