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 Adnoc Logistics and Services plc, a global energy maritime logistics leader, announced on Thursday that it has been awarded a $975-million artificial island construction contract by Adnoc Offshore. As part of Adnoc’s In-Country Value programme, at least 75% of the total contract value for dredging, land reclamation and marine construction of an artificial island “G†for ...
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June, 2023
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9 June
WAM, CTK sign pact to enhance news exchange
ABU DHABI / WAM The Emirates News Agency (WAM) on Thursday signed a memorandum of understanding (MoU) with the Czech News Agency (CTK), aiming at strengthening and developing cooperation in news exchange. The MoU was signed virtually by Mohammed Jalal Al Rayssi, Director-General of WAM, and Jiri Majstr, CEO of CTK. The WAM-CTK collaboration is part of WAM’s efforts to ...
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9 June
Mohamed bin Zayed issues law establishing National Academy for Childhood Development
ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued a law establishing the National Academy for Childhood Development, to be headquartered in Abu Dhabi as part of the Abu Dhabi Early Childhood Authority. The academy aims to offer education, training and lifelong learning programmes related ...
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8 June
ECB officials urge higher interest rates
BLOOMBERG European Central Bank (ECB) officials called for interest rates to be lifted further — seeking additional reassurance on the inflation front as they look past more signs of weakness in the euro-zone economy. Dutch central bank chief Klaas Knot said he’s “not yet convinced that the current tightening is sufficient,†telling lawmakers in the Netherlands that “inflation could well ...
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8 June
Barakah plant’s Unit 4 set for operational readiness test
ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) has announced that Unit 4, the fourth and final unit at the Barakah Nuclear Energy Plant in Abu Dhabi, has begun its operational readiness preparations. The operations team at Barakah have now commenced the operational readiness testing required to demonstrate the unit is ready to receive the Operating License from ...
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8 June
Mohammed bin Rashid honours 16 entities leading in CSR with Community Impact Medal
ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, witnessed the honouring of a number of companies leading in Corporate Social Responsibility (CSR), in recognition of their important role in consolidating sustainability practices. His Highness Sheikh Mohammed stressed the importance of strengthening and organising Corporate Social ...
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8 June
Sheikh Mohammed issues decrees on boards of Dubai Real Estate Corporation, Dubai Judicial Institute
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Decree No (22) of 2023 on the Board of Directors of the Dubai Real Estate Corporation. As per the Decree, the Corporation’s Board is chaired by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, with ...
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8 June
Standard Chartered to sell Zimbabwe unit locally to FBC
BLOOMBERG Standard Chartered Plc agreed to sell its Zimbabwe business to the country’s FBC Holdings Ltd as it presses ahead with plans to exit seven markets in Africa and the Middle East. The emerging markets-focussed bank will transfer 100% of its shareholding in the unit, including the custodial services business, to FBCH, as the investment holding company is known. FBCH ...
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8 June
China’s big four state banks to slash dollar deposit rates
BLOOMBERG China’s four big state lenders have effectively cut dollar deposit rates, according to people familiar with the matter, at a time when strong demand for the US currency in the banking system helped push the yuan to a six-month low. The banks have lowered the ceiling on the rates — which are a spread over the US Secured Overnight ...
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8 June
UAE signs air services agreement with Peru
LIMA / PERU / WAM The UAE and the Republic of Peru signed an air services agreement, with Mohammed Abdullah Al Shamsi, UAE ambassador to the Republic of Peru, signing on behalf of the UAE and Gervasi DÃaz, Minister of Foreign Affairs, representing Peru. This agreement will open new horizons for cooperation between the two countries and promote intra-trade. Al ...
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