The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / GULF TIME The Abu Dhabi Housing Authority (ADHA) has announced the adoption of digital twin technology to showcase its housing projects. This initiative focuses on 3D real-time visualization of housing options. Additionally, through collaboration with NNTC, a leading company in digital twin technologies in the UAE, the Authority offers an integrated virtual experience where individuals can explore ...
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August, 2024
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5 August
World markets tremble over risks to the US economy, Japan’s Nikkei dips 12.4%
BANGKOK / WAM In the latest bout of sell-offs that are shaking world markets as investors fret over the state of the US economy, Japan’s benchmark Nikkei 225 stock index plunged 12.4 percent on Monday. The Nikkei closed down 4,451.28 points at 31,458.42. The market’s broader TOPIX index fell 12.8 percent as selling picked up in the afternoon, the Associated ...
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5 August
EGA ships bauxite cargo using LNG-fuelled ship in world decarbonisation first
ABU DHABI/WAM Emirates Global Aluminium (EGA) today announced the world’s first bauxite cargo shipment using a Liquefied Natural Gas-fuelled (LNG) vessel. The shipment, in a Capesize ship, carries bauxite mined by EGA subsidiary Guinea Alumina Corporation to a customer in China. LNG-fuelled ships can achieve up to 28 percent lower greenhouse gas emissions on a tank-to-wake basis compared to vessels ...
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5 August
ADNOC Drilling and Alpha Dhabi JV to fully acquire EV Holdings for $45mln
ABU DHABI/WAM ADNOC Drilling Company and Alpha Dhabi Holding announced today that their joint venture Enersol (JV) has agreed to acquire a 100% equity stake in EV Holdings Ltd. (EV) for approximately $45 million from UK-based private equity firm, Dunedin. Completion of the transaction is subject to obtaining the necessary regulatory approvals and closing adjustments, after which the EV stake ...
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5 August
ADNOC Drilling reports $570 million net profit in H1-24
ABU DHABI/WAM ADNOC Drilling Company on Monday announced record financial results for the second quarter and first half of 2024. The company’s net profit for the quarter also grew, up 29% year-on-year and 7% sequentially to $295 million, driven by the increase in EBITDA, while for the first half the figure stood at $570 million, up 28% year-on-year. The revenue ...
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5 August
GCC accounted for 53.9% of Dubai Chamber of Commerce members’ exports, re-exports in H1-24
DUBAI/WAM Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) market remained the top global export and re-export destination for its member companies during the first half of 2024. The GCC region accounted for 53.9% of total exports and re-exports with a combined value of ...
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5 August
Bangladesh PM Sheikh Hasina resigns, interim government to be formed: Army chief
DHAKA/WAM Bangladesh Prime Minister Sheikh Hasina resigned on Monday and fled the country, Reuters quoted multiple sources as saying. Army chief General Waker-Us-Zaman said in a televised address that Hasina 76, had left the country and that an interim government would be formed. Student activists had called for a march to the capital Dhaka on Monday in defiance of a ...
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5 August
Operation Chivalrous Knight 3 continues its efforts to repair water lines in Khan Younis
KHAN YOUNIS/WAM The Operation Chivalrous Knight 3 follows the progress of repairing damaged water networks to re-operate main water wells, reservoirs, and destroyed pipelines. The imitative enables Khan Younis Municipality to provide humanitarian services to residents and displaced families in the city, alleviating their struggles to access water, and preventing health disasters. A specialised company is working on repairing the ...
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5 August
Sheikha Fatima directs establishment of series of exhibitions for productive families
ABU DHABI/WAM H.H. Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), has directed the establishment of a series of exhibitions for productive families. These exhibitions, organised by the GWU in collaboration with its strategic partners from federal, local, private, ...
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5 August
Maktoum bin Mohammed visits DP World London Gateway
LONDON/WAM H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, accompanied by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, visited DP World’s Port and Logistics Park at London Gateway, in the Thames Estuary. Sultan Ahmed bin Sulayem, Chairman and CEO ...
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