The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  Why has a promising idea put forth by South Korean President Park Geun-hye – a five-party (U.S., China, ROK, Japan, Russia) diplomatic process for Northeast Asia – received so little regional support? After what appears an inflection point in the region (North Korea’s back-to-back nuclear and ICBM missile tests kicking off 2016) all seem to recognize the new level ...

  BLOOMBERG Saudi Arabian stocks led an advance across most Gulf Arab equities as the kingdom prepared to announce a road map for the post-oil era. The Tadawul All Share Index added 1.7 percent, the most in more than a month and extending gains after it entered a so-called bull market on Thursday. The kingdom is scheduled to set out ...

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.11% to close at 4713.69 points. Accordingly the Market Capitalization has lost AED 0.83 billion attaining AED 764.62 billion. A total of 0.59 Billion Shares were traded with a total value of AED 0.65 billion during the trading session of 24-04-2016 through 6501 transactions. The number of companies ...

  RITIKA SHARMA / Emirates Business UAE Facebook users, beware — the next link you follow on your account, might lead you to a malware that will steal your confidential details or corrupt your entire system. Of late, UAE-based IT companies have detected a spam-based campaign, running on the social networking sites, that is spreading malicious browser plugin via social ...

  Emirates Business Imdaad, a leading provider of integrated facilities, waste, and energy management solutions in the GCC, has officially opened its new state-of-the-art Imdaad Manzeli staff accommodation in Jebel Ali that is set to house its 3,000 employees. Manzeli, which is Arabic for ‘My Home,’ demonstrates the company’s continuing efforts to provide its employees with a housing accommodation that ...

  Dubai / Emirates Business Aramex, a leading global provider of comprehensive logistics and transportation solutions, has announced its financial results for the first quarter of 2016. Aramex’s Net Profits increased 12 percent to AED96.9 million, up from AED86.6 million in Q1 2015. Revenues in the first quarter of 2016 increased to AED1,048 million, up 13 percent compared to AED930 ...

  Abu Dhabi / Emirates Business Representing milestones in the Emirate of Abu Dhabi’s Waste Master Plan 2040’s development, the situational analysis and the waste characterisation study, were discussed at the Waste Master Plan’s first Steering Committee meeting. The Steering Committee is led by Chairman HE Khalifa Mohamed Al Mazrouei, Undersecretary at the Department of Municipal Affairs. The Committee’s role ...

  Sunaina Rana / Emirates Business UAE-based company, ARTAR Real Estate Development has announced that it has achieved a 15 percent completion rate of Mada Residences. The new upcoming project is situated in Downtown Dubai and this exclusive residential property development is ARTAR’s first project in the UAE. Sulaiman Abdulrahman Al Rashid, CEO of ARTAR Real Estate Development LLC, stated, ...

  ABU DHABI / WAM Standard & Poor’s (S&P) has revised its long-term outlook on Jordan’s economy while at the same time allocating a BB-/B rating on the kingdom’s long- and short-term foreign and local currency sovereign credit ratings. “We have revised downward our economic growth projections and now expect wide current account deficit,” the rating services agency said in ...

  DUBAI / Reuters State-run Saudi Electricity Co (SEC), the Gulf’s largest utility firm, reported a narrowing first-quarter net loss as higher tariffs boosted its operating income. The company, which the government aims to split into several components this year to improve efficiency, made a loss of 1.37 billion riyals ($365.32 million) in the three months to March 31, according ...