The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Chinese asset manager Loyal Valley Capital Co. responded to pushback from clients who lost a third of their money on a product last year, as the $11 billion manager became the latest target of investor ire. One of the firm’s hedge funds allegedly deviated from its theme of tech- and consumer-stocks, while repeated requests for dialogue with fund ...
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January, 2022
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7 January
BBC praises UAE’s resilience against Covid-19 pandemic
ABU DHABI / WAM BBC Travel, a designated BBC portal for travel stories, has praised on Thursday the UAE’s “resilience” during the Covid-19 global pandemic. “Even as the Omicron variant has parts of Europe on lockdown again, the UAE has managed, so far, to stay open to most travellers while keeping infections low,” said the report headlined “Why is ...
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7 January
Ajman Ruler okays emirate’s 2022 budget worth AED2.41b
AJMAN / WAM His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, approved AED2.417 billion for Ajman Government’s 2022 budget. His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Executive Council, said the Ajman Government’s budget embodies the vision of the emirate’s leadership and its plans ...
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7 January
‘Warm Winter’ initiative to raise $10mn for refugees
DUBAI / WAM The World’s Coolest Winter campaign, which celebrates the UAE’s most beautiful tourism destinations, is extending humanitarian support to more than 100,000 refugees and people in need through a new humanitarian initiative called Warm Winter. The campaign will collaborate with Galaxy Racer’s Content Creator AboFlah, to support hundreds of thousands of refugees and families in need in Africa ...
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7 January
Sewa implements projects worth AED54.3m in 2021
Sharjah / WAM The Central Region Department of the Sharjah Electricity, Water and Gas Authority (Sewa) implemented a number of development projects during 2021. As many as 80 projects have been implemented for network modifications and the installation of approximately 50 transformers in the central region. Cables have been extended to implement these projects with up to 197,624 km ...
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7 January
Mubadala-backed Reef, Americana team up to open cloud kitchens
ABU DHABI / WAM Reef, the largest operator of delivery kitchens, logistics, and proximity hubs in North America, and Americana Group (Americana), the largest food & beverage operator in the Middle East region, announced a joint venture to open cloud kitchens that will operate Reef, Americana and third party brands throughout the Middle East and North Africa. “As Reef ...
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7 January
Dana Gas’s collections in 2021 up 107% to $377m
SHARJAH / WAM Dana Gas has announced that its collections from the KRI and Egypt rises 107% year-on-year in 2021 to $377 million (AED1.38 billion) from $182 million (AED 667 million) in 2020, enhanced by a strong rebound in oil prices, an accelerated pace of payments from Egypt and the settlement of past outstanding KRI receivables. Dana Gas, which ...
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7 January
Arada posts 38% rise in sales in 2021
Sharjah / Gulf Time Arada reported a strong sales performance for 2021, thanks to successful new project launches and a resurgence in the overall property market in both Sharjah and the wider UAE. The developer posted a 38% increase in sales to AED2.41 billion during 2021 in comparison to the previous year. In total, Arada sold 2,488 homes in ...
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7 January
AD Ports launches new services company for Kizad communities
Abu Dhabi / WAM AD Ports Group has launched Kizad Communities Development and Services Company, a project that aims to champion the staff wellbeing across the full value chain. Kizad Communities will provide integrated solutions for staff residential communities, including new developments, new services, and property management solutions. The new project will take on the operations of the existing ...
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7 January
BBC highlights UAE’s ‘resilience’ against Covid-19
ABU DHABI / WAM BBC Travel, a designated BBC portal for travel stories, has praised on Thursday the UAE’s “resilience” during the Covid-19 global pandemic. “Even as the Omicron variant has parts of Europe on lockdown again, the UAE has managed, so far, to stay open to most travellers while keeping infections low,” said the report headlined “Why is ...
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