The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg India’s decision to go ahead with a much-reduced target for its vaunted life insurer’s initial public offering, as skittish investors continue to pull money from the South Asian nation, is adding to the risks threatening the nation’s fiscal deficit target. Life Insurance Corporation of India’s (LIC) board approved selling a 3.5% stake for about 210 billion rupees ($2.8 ...
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April, 2022
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25 April
Ambani scraps $3.2bn deal that set up clash with Bezos
Bloomberg Billionaire Mukesh Ambani abandoned a plan to buy a teetering Indian retailer amid protracted legal challenges from Amazon.com Inc., potentially ending one episode of the broader clash between the two titans to control the country’s billion-people-plus market. In a filing, Reliance Industries Ltd. said its proposal to acquire certain assets of Mumbai-based Future Group — which ran the nation’s ...
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25 April
Payment of AED340m to social assistance recipients completed
DUBAI / WAM Hessa bint Essa Buhumaid, Minister of Community Development, has announced the completion of the disbursement of AED340 million ordered by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for the recipients of social assistance across the country, on the occasion of the ...
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25 April
UAE youths to play key roles at Adnoc: Al Jaber
Abu Dhabi / WAM UAE youths are set to play key roles as Abu Dhabi National Oil Company (Adnoc) future-proofs its business to build long-term resilience and remain a catalyst for the nation’s growth and diversification. Speaking at Adnoc’s Youth Ramadan Forum, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group ...
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25 April
UAE-funded date processing factory starts ops in Pakistan
PAKISTAN / WAM The UAE Pakistan Assistance Programme (UAE PAP) has announced the start of commercial production at Dates Processing Factory Punjgur in Pakistan, which was built in Panjgur district, Balochistan province by UAE PAP and funded by the Abu Dhabi Fund for Development (ADFD) at a cost of $6.36 million. The project was carried out under the directives of ...
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25 April
Sharjah set to host ‘Hive Furniture’ show in June
Sharjah / WAM After a successful debut last year, Expo Centre Sharjah has announced that it will host the second edition of the ‘HIVE Furniture’ Show, the region’s first dedicated event focusing on big box retailers and wholesale traders, from June 13 to 16. The announcement was made on the sidelines of a signing ceremony between Saif Mohammed Al ...
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25 April
Upgraded Saih Al Dahal Road to open in May
DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) announced that it would open this May Saih Al-Dahal Road Improvement Project which links Saih Al-Salam Road with the Mohammed bin Rashid Al Maktoum Solar Park. The old single-lane road is being removed and replaced by a dual carriageway extending 11 km comprising two lanes in each direction, along with ...
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25 April
UAE-funded dates processing plant begins its operations in Pakistan
PANJGUR / PAKISTAN / WAM The UAE Pakistan Assistance Programme (UAE PAP) has announced the start of commercial production at Dates Processing Factory Punjgur in Pakistan, which was built in Panjgur district, Balochistan province by UAE PAP and funded by the Abu Dhabi Fund for Development (ADFD) at a cost of $6.36 million. The project was carried out under the ...
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25 April
Sheikh Maktoum approves DIFC Courts’ 2022-24 work plan
Dubai / WAM His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of the Dubai International Financial Centre has approved the Dubai International Financial Centre (DIFC) Courts Strategic Work Plan 2022- 2024. Encapsulated within a four-pillar mandate, the new three-year plan outlines an ambitious drive for full ...
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25 April
Future Mattress to tap UAE mattress market
Dubai / Gulf Time A leader in UAE mattress market Future Mattress, has announced its plans to capture 20% market share in the mattress sector in the UAE. This was revealed by Muhammad Adil Mirza, CEO, Phoenix Medicines LLC and Future Mattress at recently organized Iftar dinner organised by his group in a leading Dubai hotel, adding that his ...
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