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

Bloomberg A gauge of Chinese stocks in Hong Kong slid to the verge of a correction, as a selloff spurred by the geopolitical tensions and doubts over the nation’s economic recovery extended. The Hang Seng China Enterprises Index fell 1.3% on Wednesday, taking its losses from a January 27 peak to more than 9%. A sharp three-month surge in the ...

  Sharjah / Gulf Time The Sharjah Institute for Heritage (SIH) announced that the 20th Sharjah Heritage Days (SHD) will take place from March 1-21 under the slogan “Heritage and Creativity”. The event will be held in 12 cities of the emirate of Sharjah, with the participation of 42 Arab and foreign countries and 40 government agencies. The announcement came ...

  DUBAI / WAM Dubai Future Foundation launched the Future Opportunities Report: The Global 50 at the World Government Summit 2023, unveiling 50 promising opportunities across various sectors and ten global megatrends. The report was created alongside 30 international experts and highlights opportunities to overcome global challenges such as scientific advancement, economic growth, government work and social development. Mohammad Abdullah ...

  DUBAI / WAM Gilbert F Houngbo, the Director General of the International Labour Organisation (ILO), has welcomed the efforts made by the UAE to reform social protection and services, and hailed the country’s plans to embrace the technology needed to make these reforms come true. He highlighted in this regard the recent unemployment insurance scheme launched by the UAE ...

  Abu Dhabi / WAM Abu Dhabi National Insurance Company (Adnic) has reported its financial results for the full year ended on December 31, 2022, announcing a net profit of AED377.9 million. The company reported gross written premiums increased by 20.1% to AED5.13 billion, compared to AED4.27 billion for the same period in 2021. Adnic’s net underwriting income was AED490.9 ...

Abu Dhabi / WAM Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development (ADFD) and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office (ADEX), met Arnoldo Andre Tinoco, Minister of Foreign Affairs of Costa Rica, to discuss ways to strengthen relations between the UAE and Costa Rica in various fields. During the meeting ...

  MINSK / WAM Belarus-Hungary cooperation is actively developing in various areas, Minister of Foreign Affairs of the Republic of Belarus Sergei Aleinik told journalists following his meeting with Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto. BelTA, a Belarusian news agency, quoted Aleinik as saying, “At today’s talks we have discussed the state and prospects of our cooperation. ...

  Dubai / WAM flydubai, the Dubai-based airline, announced on Tuesday the launch of a daily service to Mogadishu Aden Adde International Airport (MGQ) from March 09, 2023. The carrier will double the frequency of flights from June 1, 2023, making it the first carrier to connect Somalia directly with Dubai and the United Arab Emirates. Hamad Obaidalla, Chief Commercial ...

  Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) reported positive financial results for the year ended on December 31, 2022. Taqa delivered a very strong performance during the year, which was underpinned by the execution of it its growth strategy, its contracted utilities business and an uplift in commodities prices. Group revenues were to the tune of ...

  Abu Dhabi / WAM Masdar, one of the world’s fastest-growing renewable energy companies, has signed an agreement with the International Finance Corporation (IFC), the largest global development institution focussed on the private sector in developing countries, to explore collaboration in supporting climate action for emerging markets. The collaboration framework was signed by Mohamed Jameel Al Ramahi, Chief Executive Officer, ...