The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Droupadi Murmu of the Republic of India on the occasion of her country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His Highness Sheikh Mansour bin ...
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August, 2024
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16 August
ADDED includes 30 new activities to ‘Freelancer Licence’
ABU DHABI/WAM The Abu Dhabi Business Centre (ADBC) at the Abu Dhabi Department of Economic Development (ADDED) announced the addition of 30 new activities to the Freelancer Licence. This expansion allows UAE nationals and residents to pursue a wider range of business opportunities, fostering Abu Dhabi’s supportive economic environment that encourages entrepreneurship and facilitates business establishment at minimal cost. The ...
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16 August
DP World’s revenue grew by 3.3% to $9,335 million in HI 2024
DUBAI/WAM DP World Limited today announced resilient financial results for the first six months to 30 June 2024. On a reported basis, revenue grew by 3.3% to $9,335 million while adjusted EBITDA3 decreased by 4.3% to $2,497 million with an adjusted EBITDA margin of 26.8%. Like-for-like gross container volumes growth of 6.1% driven by strong growth in Americas, Europe, Asia ...
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16 August
AD Ports Group completes Tbilisi Dry Port acquisition to become majority owner
ABU DHABI/WAM AD Ports Group on Thursday announced the completion of the acquisition process of the Tbilisi Dry Port, which sees the Group become the majority owner with a 60% stake. The state-of-the-art, rail-linked, and custom bonded intermodal logistics hub, in Georgia – scheduled to be operational in October 2024 – further strengthens the Group’s role in connecting Asia and ...
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15 August
Under the patronage of Nahyan bin Zayed, 30th Abu Dhabi International Chess Festival to take place
ABU DHABI/AD MEDIA OFFICE Under the patronage of His Highness Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Abu Dhabi Sports Council, the 30th edition of the Abu Dhabi International Chess Festival is taking place until 25 August 2024. The opening activities of the international event will be held at The St. Regis Hotel Abu Dhabi, organised by the ...
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14 August
AD Ports Group reports 42% growth in total net profit in Q2-24
ABU DHABI/WAM AD Ports Group on Tuesday announced that its total net profit reached AED439 million in Q2 2024, an increase of 42% Year-on-Year (YoY), while the net profit after minorities reached AED333 million in Q2 2024, an increase of 16% YoY. In a press release, the company said that revenues have more than doubled YoY to AED4.18 billion in ...
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14 August
ADNOC Drilling to be added to MSCI’s flagship indexes on August 30
ABU DHABI/WAM ADNOC Drilling Company has announced that its stock has been selected for inclusion in the prestigious MSCI indexes effective post market close on 30th August 2024. ADNOC Drilling will be included in the MSCI Indexes including MSCI EM, and MSCI UAE after meeting the necessary criteria. The Company will become the 12th member of the MSCI UAE index. ...
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14 August
Yalla Group’s H1 revenue grows 4.7% to AED 587.3 million
DUBAI/GULF TIME Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the second quarter of the fiscal year 2024, ending on June 30. The financial results revealed that Yalla’s H1 revenues have surpassed AED 587.3 million (US$159.9 million), recording ...
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14 August
Middle East sees surge with 14 IPOs raising $2.64 billion, led by UAE, Saudi Arabia
ABU DHABI/WAM The IPO market in the Middle East and North Africa (MENA) region remained resilient during the second quarter of this year, with 14 IPOs registering total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last year. According to the Ernst & Young report on IPO activity in the MENA region, the second quarter of ...
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14 August
UAE’s Operation Chivalrous Knight 3 provides medical supplies, medications to UK field hospital, UK-Med clinics
GAZA / WAM As part of Operation Chivalrous Knight 3 and the UAE’s efforts to support the healthcare sector in the Gaza Strip, medical supplies and medicines have been provided to the UK field hospital and UK-Med clinics in Gaza. This initiative comes in response to the severe shortage of medical supplies in the Strip and the local healthcare system’s ...
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