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 ports are among the world’s largest ports in terms of advanced equipment, capabilities, shipping and unloading, Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Federal Transport Authority – Land and Maritime, has said. He added that the UAE has been ranked first at the Arab level and10th ...

Dubai / Emirates Business DAMAC Properties has announced a major new project, destined to become another icon of Dubai’s real estate landscape. ‘AYKON City’ is a six tower luxury project comprising Dubai’s first all-suites, 80 storey AYKON Hotel and Residences, a 63 storey DAMAC Maison Serviced Hotel Residences, a 60 storey apartment tower, a 65 storey office tower and two ...

Alkesh Sharma / Emirates Business Imagine a UAE farmer sitting in the cabin of his high-tech tractor and keeping tabs on swathes of fields by the click of the mouse. By monitoring a couple of computer screens, the ‘big data’ helps him figure out the exact locations in the farmlands where his worker had missed a seed, the zones where ...

ABU DHABI / WAM On the sidelines of Christine Lagarde’s, Managing Director of the International Monetary Fund (IMF), first official visit to the UAE, the Ministry of Finance (MoF) has stressed that the UAE has attained a prestigious status in terms of its relations with international financial institutions, specifically with the IMF. UAE joined IMF as a member under the ...

ABU DHABI / WAM Dr. Amal Abdullah Al Qubaisi, Speaker of Federal National Council, FNC, has received Ilyas Umakhanov Deputy Chairmen of the Federation Council of Russia and the accompanying delegation, at FNC headquarters in Abu Dhabi. During the meeting, they discussed ways to strengthen friendship and cooperation between the UAE and Russia in various fields, especially in the parliamentary ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) has initiated an appointment process of shortlisted UAE national candidates after the bank’s successful participation in the 18th National Career Exhibition, held recently at the Expo Centre Sharjah. A total of over 800 job applications were submitted during the three-day exhibition. Eman Jassim, Head of the Human Resources Group at Sharjah Islamic Bank, ...

ABU DHABI / WAM HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority ( DEWA ) met with HE Sultan Butti Bin Mejren, Director General of the Dubai Land Department ( DLD ). The two officials discussed ways to combine efforts to improve the infrastructure, and the services provided to investors and developers in the real ...

Dubai / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority, RTA, announced that the RTA would open next Friday the widening of the Sheikh Mohammed bin Zayed Road Project. Accordingly, the number of lanes will double from three to six lanes in each direction along this 7 km-long sector extending ...

KUWAIT / WAM Kuwait’s oil price rose USD 2.2 per barrel to USD 27.72 per barrel on Thursday against USD 25.52 per barrel on Wednesday, Kuwait Petroleum Corporation, KPC, said on Friday. According to Kuwait News Agency, KUNA, contracts of the Brent Blend, for the nearest delivery, fell 34 cents to USD33.94 pb, while the American crude contracts dropped 29 ...

ABU DHABI / WAM The International Petroleum Investment Company (IPIC), wholly owned by the Government of Abu Dhabi, has welcomed the new strategy announced by the Austrian’s OMV, an integrated international oil and gas company. Murtadha al-Hashemi, Chief Financial Officer, IPIC, and board member of the OMV, said that with the decline in oil prices, OMV faces difficulties, adding that ...