The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BLOOMBERG The SoftBank-backed solar power startup Enpal said that it has raised €430 million ($464 million) in debt funding to finance its leasing business. DWS and Phoenix Life Limited joined existing investors BlackRock and ING in the refinancing round, according to the company. BlackRock upped its commitment in this round by €100 million, and ING increased its own by an ...
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June, 2023
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13 June
TCR Arabia, an Indian JV company, completes 15 successful years in Kingdom of Saudi Arabia
SAUDI ARABIA /GULF TIME TCR Arabia is a company that specializes in engineering services specifically in the field of Material Testing, Advanced Non-Destructive Testing and Metallurgical investigation. Founded in 2007 as a joint venture between TCR Engineering Services (India) and GAS Arabian Service (Saudi Arabia). The company is based in Saudi Arabia and has rapidly established a reputation for reliability ...
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13 June
Kenya’s once-booming stock market buckles under dollar shortages
BLOOMBERG Kenya’s crippling dollar shortage is driving away investors, turning a once-booming stock market into the worst in the world. Nairobi’s All-Share Index has plunged 19% this year, the steepest drop among the almost 100 global indexes tracked by Bloomberg. The nation is in the grip of a foreign-exchange crunch, with major companies and investment firms facing weeks of delay ...
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13 June
Stocks rise as traders dial back Federal Reserve’s bets on CPI
BLOOMBERG Wall Street got some encouragement to keep pushing stocks higher after a slowdown in inflation bolstered speculation the Federal Reserve will pause its tightening campaign on Wednesday. That’s not to say investors are betting the Fed is done with its interest-rate hikes just yet. While swap traders lowered their wagers on a June increase to about 10%, they still ...
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12 June
UAE, India celebrate one year of Cepa, review latest trade data
NEW DELHI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has held a bilateral meeting with Piyush Goyal, India’s Minister of Commerce and Industry in New Delhi, India, to celebrate the first year of the Comprehensive Economic Partnership Agreement (Cepa) between the two nations and review the newly released trade data. Initial figures from ...
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12 June
Sinaha to build Abu Dhabi facility for sustainable automotive manufacturing
ABU DHABI / WAM Sinaha Platform has announced the signing of an agreement with international partners to build the first automobile facility in Abu Dhabi that manufactures automobiles from recyclable materials. This move aims to establish Abu Dhabi as a prominent auto hub for sustainable production. This initiative marks a significant milestone for the country’s automotive industry, contributing to the ...
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12 June
Sheikh Mohammed: Arab World is home to thousands of Hope Makers
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is calling upon hope makers in the Arab world as the 4th edition of Arab Hope Makers initiative for 2023 kicks off. The largest initiative of its kind in the Arab region, the Hope Makers initiative celebrates individuals ...
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12 June
Mansour bin Zayed approves fixture list for UAE Racing Season 2023-2024
DUBAI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of the Presidential Court and Chairman of the Emirates Racing Authority (ERA), has approved the fixture list of the UAE racing season 2023-2024. His Highness Sheikh Mansour said, “We are happy to announce the 2023-2024 racing programme, which we hope would provide trainers, ...
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12 June
UAE, Ukraine discuss economic, investment cooperation ways
KIEV / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, who is leading a UAE delegation on an official visit to Ukraine, met with Denys Shmyhal, Prime Minister of Ukraine. The meeting discussed ways to bolster the cooperation between the UAE and Ukraine in various sectors, the humanitarian situation in Ukraine and ways to mitigate its ...
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12 June
Ministry takes part in Women, Peace and Security FPN meeting in US
WASHINGTON / WAM Ahood AlZaabi, Director of the United Nations Department at the Ministry of Foreign Affairs, participated in the Women, Peace and Security Focal Points Network (FPN) meeting co-chaired by the United States and Romania and held in Washington. The meeting aimed to promote and advance the Women, Peace and Security agenda as a foundational framework for policy development. ...
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