The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg BMW AG plans to buy electric-vehicle batteries from six new factories to be set up and run by companies including Contemporary Amperex Technology Co Ltd and Eve Energy Co as the world’s biggest luxury-car maker attempts to overhaul its supply chain. Two plants each in Europe, China and North America will produce round lithium-ion cells that enable longer ranges ...
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September, 2022
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12 September
Porsche mulls entry into F1 racing series
Bloomberg Porsche said it’s still mulling an entry into the Formula 1 racing series after ending months of talks with Red Bull GmbH as a potential partner. Discussions faltered after the pair couldn’t agree on an “equal footing†on engine collaboration and team partnership, Porsche said. The stalling of the sports-car maker’s F1 aspirations come within weeks of Volkswagen ...
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10 September
UAE leaders send condolences over death of Queen Elizabeth II
ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to King Charles III of the United Kingdom of Great Britain and Northern Ireland, following the death of Queen Elizabeth II. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...
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10 September
Ajman, Russia to bolster investment opportunities
ABU DHABI / WAM Abdullah Al Muwaiji, Chairman of the Ajman Chamber of Commerce and Industry (ACCI), received an economic delegation from the Russian Federation, to discuss prospects for developing relations between business owners from the two countries and highlighting investment opportunities available in real estate and building & construction sectors. The meeting was attended by Mohamed Ali Al ...
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10 September
UAE, Israel explore cooperation in clean and renewable energy
Abu Dhabi / WAM Ahmed Mohammed Belajer Al Rumaithi, Undersecretary of the Department of Energy (DoE), has received Amir Hayek, Ambassador of Israel to the UAE, to discuss areas of cooperation and development in clean and renewable energy between the two countries. Al Rumaithi highlighted the importance of building bridges of cooperation in various energy sectors, especially water, electricity, wastewater ...
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10 September
Safeen Feeders launches new UAE-China service
Abu Dhabi / WAM AD Ports group’s Safeen Feeders has launched a new UAE-China service, deploying a recently purchased container vessel, Safeen Power, with a capacity of 3,400 TEUs. The monthly service will connect the Chinese ports of Shanghai, Qingdao and Ningbo directly with Khalifa Port in Abu Dhabi, opening an important new trade route. It will be Safeen ...
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10 September
Etihad Rail connects major freight terminal at ICAD to main network
Abu Dhabi / WAM Etihad Rail announced the successful completion of the connection between the railway freight terminal at the Industrial City of Abu Dhabi (ICAD), which is the largest inland freight railway terminal in the country, and the UAE National Rail Network. The company completed tracklaying works and conducting successful tests on the new line, which extends from ...
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10 September
Dubai’s realty deals hit $2.56b in seven days
Dubai / WAM A total of 2,594 real estate transactions worth AED9.4 billion ($2.56 billion) were conducted during the week ending September 9, according to figures released by the Dubai Land Department. A total of 209 plots were sold for AED946.55 million, 1,871 apartments and villas were purchased for AED3.92 billion. The top three transactions were a land in Island ...
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10 September
Adnoc, Dubai Supply Authority sign landmark gas sales deal
ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have witnessed the signing of a landmark gas sales agreement between Abu Dhabi National Oil Company (Adnoc) and Dubai Supply Authority (Dusup). The agreement showcases the ...
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10 September
Khalifa Fund enhances its membership programme
Abu Dhabi / WAM Khalifa Fund for Enterprise Development has officially announced that its membership programme has been enhanced and updated with a variety of business add-ons, which will further encourage and enable entrepreneurship. The membership updates includes an unlimited amount of trade license business registrations, which was originally 1 license per entrepreneur; fewer age restrictions, with anyone being ...
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