The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / WAM A total of 2,704 real estate transactions worth over AED13 billion were conducted during the week ending January 20, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 235 plots were sold for AED1.13 billion, while 1,944 apartments and villas were purchased for AED4.39 billion. The top three transactions were ...
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January, 2023
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21 January
President Sheikh Mohamed declares 2023 as “Year of Sustainabilityâ€
Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has announced that 2023 will be the “Year of Sustainabilityâ€. The “Year of Sustainability” will include several initiatives, activities and events that draw upon the UAE’s deep-rooted values of sustainability and the legacy of its founder, the late Sheikh Zayed bin Sultan Al Nahyan. It will ...
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21 January
Adnoc Distribution plans to cut carbon intensity by 25%
Abu Dhabi / WAM Adnoc Distribution on Friday announced plans to reduce its carbon intensity by 25% by 2030. This will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business and deliver sustainable long-term shareholder value. Central to Adnoc Distribution’s enhanced sustainability drive is a commitment to decarbonise its operations by reducing ...
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21 January
Mohammad Al Gergawi announced as member of WEF Leadership Council
Davos / WAM The World Economic Forum 2023 has announced the joining of Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, to the WEF Leadership Council, which includes 13 members from various countries. The council will be an important institutional community to act as a sounding board for the forum’s long-term strategy and help it to play a particular ...
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21 January
Wizz Air Abu Dhabi adds new destinations to its network
Abu Dhabi / WAM Wizz Air Abu Dhabi has announced the launch of two routes from Abu Dhabi to Antalya, Turkiye, and relaunched the popular route to Salalah, Oman, reaffirming its commitment to expand convenient, affordable travel for all. The flights to Antalya will commence on June 1 and operate on Tuesday, Thursday and Saturday. The flights to Salalah ...
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21 January
Dubai Police Museum sees 4,476 visitors in 2022
Dubai / WAM The Dubai Police has reported a significant increase in visitors to the Force’s museum in the past year, with a total of 4,476 visitors, including 3,139 virtual visitors via the Dubai Police smart app. This represents a 20% increase in visitors compared to the previous year, when the museum received 3,698 visitors. The museum, which is ...
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21 January
Dubai is a globally sought-after destination for investors
Dubai / Gulf Time Businessman and investor Dr Ossama Alasmar confirmed that Dubai is a globally sought-after destination for investors. He said, “I have decided to transfer all of my business operations from Germany to the promising emirate to take advantage of the thriving activity, and momentum Dubai offers.” As a successful businessman who has established several leading companies ...
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21 January
P&G relies on price increases to prop up sales as volumes shrink
Bloomberg Procter & Gamble Co (P&G) sold fewer household staples than expected last quarter as consumers grew more cautious about higher prices. The total volume of goods sold fell 6% in the three months ended in December, worse than the 2.6% that analysts had estimated. Chief Financial Officer Andre Schulten said consumers are using up the products in their ...
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21 January
Weak US retail sales, factory data heighten recession fears
Bloomberg US retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy. The value of overall retail purchases broadly fall 1.1% in December after a downwardly revised 1% drop in the prior month, Commerce Department data showed. Separate figures ...
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21 January
Cathay flags worse-than-expected loss amid slow Covid comeback
Bloomberg Cathay Pacific Airways Ltd. expects to report a larger-than-forecast loss in 2022 — around double what analysts were looking for — as the carrier claws its way back from Covid-19. Hong Kong’s main airline said in an exchange filing on Friday that it expects to report an annual net loss of between HK$6.4 billion ($817 million) to HK$7 billion, ...
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