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 Safeen group’s offshore division, part of AD Ports group, has announced the acquisition of a support vessel to enhance the group’s subsea service capabilities. Built in 2014, the vessel will operate under the name ‘Safeen Surveyor’ and will undergo an extensive conversion prior to commencing operations, including installation of an integrated dive system to support ...

  Dubai / WAM A total of 2,703 real estate transactions worth AED8 billion were conducted during the week ending October 21, according to figures released by the Dubai Land Department. 147 plots were sold for AED1.12 billion, and 2,023 apartments and villas were purchased for AED4.79 billion. The top transactions were a land Fourth sold for AED85 million in ...

ABU DHABI / WAM The fifth edition of Culture Summit Abu Dhabi, a global cultural forum, will welcome more than 180 cultural leaders from around the world at Manarat Al Saadiyat from October 23-25. Under the theme ‘A Living Culture’, the global event is set to explore the future of the culture sector and discuss creative solutions to some of ...

Dubai / WAM Today, the UAE leads global efforts in clean and renewable energy through its strategies and investments in this field. In 2021, the UAE announced the UAE Net Zero by 2050 Strategic Initiative, with investments of more than AED600 billion in clean and renewable energy until 2050. This makes it the first country in the Middle East and ...

Sharjah / WAM Arada has successfully closed a $100 million tap of its existing $350 million sukuk, which was issued in June and listed on the London Stock Exchange. The tap was priced at 99 cents on the dollar, with an investor yield of 8.386%. Arada’s existing five-year fixed rate RegS debut sukuk issuance was rated BB- by Fitch and ...

  Abu Dhabi / WAM EasyLease, the leading Mobility Solution company, a subsidiary of Abu Dhabi-based International Holdings Company (IHC), released its financial results and board meeting resolution letter for the third quarter of 2022, after market close on Friday, recording 32% YTD increase in net profit, higher by 17% than the market estimate. Easy Lease has posted a standalone ...

  Abu Dhabi / WAM The Ministry of State for Federal National Council Affairs (MFNCA) claimed two Gold Stevie awards in the International Stevie Business Awards 2022, after ranking first in the Human Resources Department of the Year and Organisation of the Year (Government Organisations) categories. The International Business Awards are among the most prestigious international business awards for creativity, ...

  Dubai / Gulf Time Sir Tim Clark, President Emirates Airline, re-affirmed the airline’s commitment to Mauritius at a dinner reception held yesterday evening on the occasion of its 20-year anniversary of operations in the nation. The event took place at the Labourdonnais Waterfront Hotel in the presence of the Honourable Pravind Kumar Jugnauth, Prime Minister of Mauritius, other dignitaries ...

Bloomberg European Union (EU) governments have pledged more than 550 billion euros ($536 billion) to protect citizens and businesses from soaring energy costs over the past year, highlighting the enormous fiscal burden the bloc’s leaders face as they jostle over how to pay for it. That figure climbs to 710 billion euros when support for utilities via loans, bailouts and ...

  Bloomberg Italy’s Enel SpA is in talks with banks on a new €16 billion ($15.8 billion) state-backed credit line to cover derivatives risks linked to spiking energy prices, according to people familiar with the matter. Under the plan, the country’s trade-credit insurer Sace would provide guarantees for around 70% of the total amount, said the people, asking not to ...