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

  Bloomberg Shares linked to Chinese utilities are primed to extend their rebound as the economy’s reopening spurs electricity consumption and tens of billions of dollars-worth overdue subsidies may finally make their way, analysts say. A sub-gauge of utility stocks on the CSI 300 Index has jumped nearly 10% since a recent mid-March low, outpacing a less than 3% rise ...

Abu Dhabi / WAM The UAE will chair the Committee on The Peaceful Uses of Outer Space (Copuos). With 100 member states, Copous is one of the largest UN committees and plays a major role in governing the exploration and use of space for the benefit of all humanity. Sarah bint Yousif Al Amiri, Minister of State for Public Education ...

  KYRGYZSTAN / WAM Abdullah bin Touq Al Marri, Minister of Economy, said the UAE and Kyrgyzstan are establishing a new era of economic cooperation led by their private sectors, which will double the value of their trade. In an interview with WAM, while heading an Emirati economic and commercial delegation visiting the Kyrgyz capital, Bishkek, Al Marri noted that ...

  Abu Dhabi / Gulf Time Abu Dhabi Islamic Bank (Adib) has registered a significant increase in its digital banking channels usage during the first quarter of 2022. According to Adib, 40% of customers’ personal finance applications are now taking place digitally on its mobile app, up from 30% in Q1 last year. The bank currently has over 700,000 customers ...

  Sharjah / WAM The Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, has signed a memorandum of understanding (MoU) with the Hamriyah Free Zone in Sharjah and the Sharjah Airport International Free Zone (Saif) to provide financial support to small and medium-sized enterprises (SMEs) and startups operating in either of ...

  Sharjah / WAM Arada, a property development company based in Sharjah, successfully completed the issuance of its first public financing deal, a $350 million sukuk, which has been listed on the London Stock Exchange. The five-year fixed rate RegS debut sukuk issuance was rated BB- by Fitch and B1 by Moody’s. The sukuk was priced at par with a ...

Dubai / WAM Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, on Wednesday announced that it signed a memorandum of understanding (MoU) with International Humanitarian City (IHC), the largest humanitarian hub in the world. The agreement entails the implementation of Masary, an e-gate pass system, at IHC to track and trace shipments within a ...

  Abu Dhabi / WAM Mubadala Petroleum on Wednesday announced it had reached half a million Barrels of Oil Equivalent a Day (boed) for the first time in its history. This achievement further establishes the company as a strategic player in the international energy sector and marks a 22 percent increase in production from 2021. The landmark was reached following ...

  Dubai /Gulf Time The well known 3C Digital Accessories brand ‘Baseus’ has launched its new-and the largest-boutique store in the Middle East at Salah Al Din Street, Dubai. The store is conveniently located right opposite Abu Baker Siddique Metro Stn. Spanning over 5000 square feet, the store showcases an extensive range of the Baseus mobile accessories with over 2000 ...

  ABU DHABI / WAM Emirates Global Aluminium (EGA) on Wednesday announced the return of “Engineer the Future”, a programme in partnership with Emirates Schools Establishment (ESE) that inspires schoolchildren in grades nine to 12 to pursue further learning and future careers in science, technology, engineering and mathematics (Stem). “Engineer the Future” sessions are delivered by enthusiastic Stem facilitators and ...