The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg The delayed arrival of a US recession will weigh on stocks in the second half of the year, according to Bank of America Corp. (BofA) strategists, who say a resilient economy thus far means interest rates will stay higher for longer. A team led by Michael Hartnett is among those predicting a scenario known as “no landing†in the ...
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February, 2023
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17 February
Q launches new phase of Reem Hills gated community
Abu Dhabi / Gulf Time Following the success of Phase One and Phase Two of the Reem Hills luxury residential community on Al Reem Island, Abu Dhabi, Q Properties, a subsidiary of Q Holding, announced the launch of a new phase of the leading gated community in the heart of the capital. “This project was designed to embody our ...
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17 February
UAE offers condolences over New Zealand cyclone victims
Abu Dhabi / WAM The UAE has expressed its sincere condolences and solidarity with New Zealand for the victims of cyclone Gabrielle, which swept across the country and killed a number of people. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy to the government of New Zealand, its people ...
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17 February
Written premiums of UAE’s insurance firms hit AED29b
Abu Dhabi / WAM In 2022, the total written premiums for insurance firms listed in local financial markets increased on an annual basis by 13%, equivalent to AED3.34 billion while net profits reached AED1.52 billion. According to a report by the Emirates News Agency on the disclosures of 29 listed national insurance companies of their financial results on financial ...
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17 February
Annual upstream oil, gas investment needs to rise 28% to $640b by 2030
Riyadh / WAM Annual upstream oil and gas investment needs to rise by 28% to reach $640 billion by 2030 to ensure adequate global supplies, according to a new report published by the International Energy Forum (IEF) and S&P Global Commodity Insights, the leading independent provider of information, analysis and benchmark prices for the commodities and energy markets. Capital ...
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17 February
Investopia signs strategic partnership with Mubadala
DUBAI / WAM Investopia, the global investment platform launched by the UAE government, and Mubadala, the sovereign investor, announced a strategic partnership focused on Investopia’s second annual event, which will take place on March 2-3 in Abu Dhabi, under the theme “Envisioning Opportunities in Times of Changeâ€. This strategic partnership will build on the successful participation of Khaldoon Al ...
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17 February
Etihad Airways to launch new flights to Lisbon
Dubai / WAM Etihad Airways is expanding its European network this summer with the introduction of a new direct service between Abu Dhabi and Lisbon, effective from July 2. The airline will be connecting Abu Dhabi to Portugal’s capital city right in time for the summer holidays, with three weekly flights scheduled to be operated on Tuesdays, Wednesdays and ...
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17 February
Net profits of 123 listed Emirati firms reach AED191b in 2022
Abu Dhabi / WAM The net earnings of 123 listed Emirati companies reached AED191 billion in 2022, indicating their robust financial position and healthy revenue growth. According to a report by the Emirates News Agency (WAM), the net earnings of national listed companies increased by 60% or AED72 billion from January 2022 to December 2022. Out of the total ...
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17 February
DMCC announces 17% rise in diamond trade in 2022
Dubai / WAM DMCC has reported a 17 percent year-on-year increase in the value of diamond trade in 2022, totalling $37.4 billion combined for rough and polished diamonds, including a 42 percent rise in the polished category and a consistently strong 7 percent rise in rough. The soaring figures are further evidence of the rapid rise of Dubai as ...
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17 February
Syrian ambassador values UAE’s immediate response to help earthquake victims
Abu Dhabi / WAM Dr Ghassan Abbas, the ambassador of Syria to the UAE, has said that the UAE’s humanitarian efforts to provide relief to those affected by the recent earthquake that struck his country have the greatest impact in alleviating the sufferings of the people. In a statement to the Emirates News Agency (WAM), Abbas said that since ...
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