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 International Holding Company (IHC) on Thursday announced the acquisition of a 50% stake in Turkish clean energy market leader “Kalyon Enerji” for AED1.8 billion through its subsidiary International Energy Holding. Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries. In this transaction, IHC’s subsidiary, ...

  Dubai / WAM Aramex on Thursday announced its financial results for the first half ending June 30. The company reported revenues of AED2.97 billion, while the net profit stood at AED91.9 million. On a group level, GP margins remained stable over both Q2 and six-month periods, driven by accelerated growth in the Logistics and freight-forwarding business and efficiencies in ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday a $1.17 billion (AED4.3 billion) contract for the hire of 13 self-propelled jack-up barges to drive offshore operational efficiencies and support the expansion of its crude oil production capacity to five million barrels per day (mmbpd) by 2030. The five-year contract was awarded by Adnoc Offshore ...

  Sharjah / WAM Dana Gas on Thursday announced its financial results for the half year ended 30th June 2022. The company generated a net profit of AED407 million or 5.8 fils per share, an 82% increase compared to an adjusted net profit (excluding reversal of impairment) of AED225 million in H1 2021. The gains in Dana Gas’s profitability in ...

  Abu Dhabi / WAM A new generation of the Emirati passports will be issued from September 1, the Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP), announced. It represents a new technological leap in line with the directions of the wise leadership to consolidate the movement towards the smart government to maximise the civilised status of the ...

  Dubai / WAM Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market (DFM), has reported a 20.5 percent rise in net profits to AED364 million for the six-month period ended June 30, as compared to AED302 million during the corresponding period of 2021. The growth in the profit by AED62.01 million is mainly driven by ...

  Dubai / WAM Dubai Clear, a subsidiary of the Dubai Financial Market (DFM), and the Securities Clearing Centre Company “Muqassa”, a subsidiary of Saudi’s Tadawul group, signed a memorandum of cooperation, creating a broad framework to strengthen collaboration and share knowledge on central clearing services as well as to actively explore ways of enhancing these services in line with ...

  DUBAI / WAM Dubai Future Foundation will host the world’s largest gathering of futurists in Dubai this year to anticipate what humanity’s future might look like across key areas – from the climate crisis to the continuous progress of artificial intelligence. Between October 10-12, 400 of the world’s leading futurists, experts and innovators will convene at the Museum of ...

China has published its first white paper on Taiwan in more than two decades, offering as a blueprint for unification the “one country, two systems” model that it used to recover Hong Kong a quarter of a century ago. The proposal should make chilling reading for those on the self-ruled democratic island. The Hong Kong formula has never held much ...

The Covid wave fueled by the Omicron BA.5 surge is finally starting to ebb in the UK and in some of the harder-hit parts of the US. But why? It’s no longer tenable to argue that disease waves peak and fall primarily because people start taking precautions. People, especially in these two countries, are taking fewer precautions all the time. ...