Abu Dhabi/ WAM The Abu Dhabi Power Corporation (ADPower), and Japan-based Marubeni Corporation, on Sunday announced the formation of a consortium to develop the Fujairah F3 independent power producer (IPP) project, which will be the largest independent thermal power plant to be operated in the UAE. To mark the occasion, a ceremony was held at the headquarters of the Emirates Water ...
Read More »
DUBAI / WAM As the UK reshapes its future trade policy during the post-Brexit transition period, the UAE – UK’s largest export market in the Middle East and the 13th biggest globally – has become one of its first trade allies to reaffirm its commitment in trade relations. This commitment was signified by a meeting between Etihad Credit Insurance (ECI), ...
Read More »
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended the opening session of Global Women’s Forum Dubai (GWFD 2020), which kicked-off on Sunday in the emirate. He was accompanied at the event by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of ...
Read More »
DUBAI / WAM HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, on Sunday opened 25th edition of Gulfood 2020, the annual food and beverage (F&B), trade show at Dubai World Trade Centre (DWTC). An open invitation for F&B producers to demonstrate how they are ‘Rethinking Food’ to serve a global population that ...
Read More »
Abu Dhabi / WAM First Abu Dhabi Bank (FAB), issued bonds worth over AED3 billion via two separate public issuances in three days, marking its first ever Sterling bond and first Kangaroo bond since 2014. FAB issued its inaugural three-year AED2.15 billion fixed rate bond, under its $15 billion Euro Medium Term Note (EMTN), Programme. According to a statement released ...
Read More »
ABU DHABI / WAM A total of 18 out of 19 national banks and financial companies registered in Emirati financial markets declared their financial figures for 2019, which highlighted an increase in their total net profits to AED46.47 billion, an increase of 11.6 percent compared to AED41.63 billion in 2018. The reported increase reflects the ability of the national banking ...
Read More »
Abu Dhabi / WAM From instant licences and incubators, to affordable school places and art springing up all over town, Abu Dhabi’s AED 50 billion ($13.6 billion) programme Ghadan 21 is accelerating Abu Dhabi’s development as a place where businesses, innovative ideas and diverse people can not only grow, but thrive. Envisioned by His Highness Sheikh Mohamed bin Zayed Al ...
Read More »
ABU DHABI / WAM The Statistics Centre – Abu Dhabi (SCAD) reported on Sunday that the Consumer Price Index (CPI) decreased by 1.8 percent in January 2020, compared with the same month in 2019. According to the latest index report of the statistics authority, the CPI reached 109.7 percent in January 2020, while it was 111.8 percent in January 2019. ...
Read More »
DUBAI / WAM Abdullah Al-Maeeni, Director-General of Emirates Authority for Standardisation and Metrology (ESMA) announced that the Islamic spending on food and beverages has grown by 1.6 percent, and is expected to reach $9.1 trillion in the next three years, reflecting a very important opportunity for investment and creating global halal food brands. The volume of investment opportunities in the ...
Read More »
Abu Dhabi / WAM The Emirates Foundation and the Saudi Arabia Pavilion at Expo 2020 Dubai, have signed a Memorandum of Understanding to launch an integrated programme that provides volunteering opportunities for Saudi youth based in the UAE. In line with the youth capacity building objective of synergy, the volunteers will receive mentoring and guidance during their participation in Expo ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.