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

Bloomberg Highly optimistic analyst stock recommendations are flashing a warning signal for equity market rally, according to Citigroup Inc. strategists. An index of global sell-side ratings “is back to peak bullishness levels reached in 2000 and 2007, after which global equities halved,” strategists led by Robert Buckland wrote in a note. While analysts always have more buys than sells, “they ...

  Sharjah / WAM The Sharjah Charity International (SCI) announced that its monthly assistance targets the needy category of people with low-income families in order to guarantee them a decent life and meet their living needs government aid. The association was able to provide monthly aid throughout the first half of this year, with a financial value of AED10.3 million, ...

  Abu Dhabi / WAM The UAE’s public spending in the first quarter of 2022 totalled AED87.4 billion, an increase of 19.6 percent and equivalent to AED14.34 billion, compared to AED73.7 billion in the same period of the previous year, according to statistics from the Ministry of Finance. The figures also highlighted the fact the country’s public spending in first ...

Dubai / WAM The Dubai International Financial Centre (DIFC) announced the launch of the first Global Family Business and Private Wealth Centre (Centre) in the region and worldwide. DIFC is the first financial centre in the world to create a unique offering at a time when an estimated AED3.67 trillion ($1 trillion) in assets will be transferred to the next ...

  Dubai / WAM Enoc group on Monday announced the opening of a new compact service station in Al Salamah 1, Umm Al Qaiwain, making it the second service station in the emirate. The expansion is part of the group’s long-term strategic plan to strengthen its retail presence across the UAE. Spread across 18,800 square feet, the new compact station ...

Abu Dhabi / WAM The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions conducted in the UAE. The UAE is one of the first countries to implement such a mechanism for real estate transactions involving ...

  Abu Dhabi / WAM Adnoc Distribution reported strong first half results for 2022, recording an Ebitda of AED1.99 billion and net profits of AED1.56 billion. Adnoc Distribution witnessed year-on-year growth in total fuel volumes, up 9% in H1 2022 compared to H1 2021, while the company’s corporate fuel volumes recorded sustained growth with a 27% year-on-year increase, underpinned by ...

  Abu Dhabi / WAM The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE’s federal export credit company, signed a memorandum of understanding (MoU) to promote increased global trade and investment. Both entities agreed to work together to position the UAE as an ideal destination for trade and investment, highlighting its stable and ...

  Abu Dhabi / WAM The Emirati Talent Competitiveness Council (ETCC), chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of the Presidential Court, and ETCC Board Chairman, on Monday launched the “NAFIS..Your Way” campaign. The campaign aims to highlight the success stories of talented Emiratis in the private sector and the benefits of working ...

  Fujairah / Gulf Time BPGIC FZE, a bulk storage provider situated in the Fujairah Oil Industrial Zone and next to the Port of Fujairah, reported that its terminal in Fujairah was not being affected by the recent adverse weather conditions and no damages to the infrastructure were reported. The award winning terminal facilities, which are mainly automated, are designed ...