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 The UAE has condemned in the strongest terms the attack by Israeli settlers on a Jordanian aid convey headed to the Gaza Strip through Beit Hanoun, and the attack on the headquarters of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) in occupied Jerusalem. In a statement, the Ministry of …
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May, 2024
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10 May
UAE President receives condolences over passing of Hazza bin Sultan
ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan accepted today condolences over the passing of Sheikh Hazza bin Sultan bin Zayed Al Nahyan from senior officials and citizens at Al Mushrif Palace in Abu Dhabi. H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah; H.H. Sheikh Sultan bin Mohammed …
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10 May
In his capacity as Chairman of Environment Agency – Abu Dhabi, Hamdan bin Zayed issues resolution on air quality system in the emirate
ABU DHABI / AD MEDIA OFFICE His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Board of Directors of the Environment Agency – Abu Dhabi (EAD), today issued Decree No. (2) of 2024 regarding the air quality system in Abu Dhabi, which aims to preserve the environment, improve ambient air quality, …
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10 May
Rulers of Ajman, Umm Al Qaiwain, Sheikhs offer condolences on death of Hazza bin Sultan bin Zayed
ABU DHABI / AD MEDIA OFFICE H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, and H.H. Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Qaiwain, today offered their condolences on the passing of Sheikh Hazza bin Sultan bin Zayed Al Nahyan. H.H. Sheikh Ammar bin Humaid Al Nuaimi, …
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10 May
DIFC announces consultation of updated prescribed company regulations
DUBAI / WAM Dubai International Financial Centre (DIFC) has proposed to enact amendments to the Prescribed Company Regulations. The proposed regulations seek to significantly expand and simplify the current Prescribed Company (“PC”) regime in the DIFC. Jacques Visser, Chief Legal Officer, DIFC Authority, said: “Since the introduction of the Prescribed Company Regulations in 2019, DIFC has committed to keeping the …
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10 May
Sharjah National Oil Corporation, Eni to explore oil in Ras Al Khaimah
SHARJAH / WAM Sharjah National Oil Corporation (SNOC) has completed a deal to acquire from Eni a 30% participating interest in Block 7 in Ras Al Khaimah, which extends over an area of 430 square kilometres and sees significant activity in oil and gas exploration with the ongoing drilling of an exploratory well called Fennec-01. Following the deal, Eni, as …
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10 May
Gold set for best week in five on renewed US rate-cut hopes
WORLD CAPITALS / WAM Gold prices firmed on Friday, poised for their best week since early April, following US economic data that boosted bets of an interest rate cut from the Federal Reserve, Reuters said. Spot gold gained 0.3% to $2,353.43 per ounce by 0450 GMT, hitting their highest in more than two weeks. Prices have risen 2.3% so far …
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10 May
Aramex doubles net profit in Q1 2024
DUBAI / WAM Aramex today announced its financial results for the first quarter ending 31st March 2024, with net profit nearly doubling, reaching AED47 million, marking two consecutive quarters of strong performance. The net profit margin improved to 3%. In a statement on Friday, the company reported an 8% year-on-year (YoY) increase in group revenues, with strong contributions from all …
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10 May
Sanad announces strategic sale transaction with CFM Materials
HONG KONG / WAM Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company, unveiled a strategic transaction between Sanad and CFM Materials, the world’s largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong. The sale of …
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10 May
Central Bank of UAE, Bank Indonesia sign MoU to promote use of local currencies for bilateral transactions
ABU DHABI / WAM Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Perry Warjiyo, Governor of Bank Indonesia, signed a Memorandum of Understanding supporting the steady growth of trade relations between the two countries through the establishment of a framework that promotes the use of local currencies for bilateral transactions. The partnership between the UAE and …
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