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

  Sharjah / WAM Construction of the UAE’s first waste-to-energy plant has been completed, with the project now entering the testing and commissioning phase. The Sharjah Waste to Energy plant is the first project of Emirates Waste to Energy, a joint venture (JV) established by Beeah Energy, the renewable energy business of Beeah Group, and Masdar, one of the world’s ...

Dubai / WAM Expo 2020 Dubai awarded AED 6.8 billion of contracts to small and medium-sized enterprises (SMEs), providing a significant contribution to a vital sector of Dubai’s vibrant economy and exceeding a commitment made in 2016 to award at least 20% of all direct and indirect spend to SMEs. The figure represents more than a quarter of all Expo ...

  Sharjah / WAM Over three million passengers travelled in the first quarter (Q1) of 2022 through Sharjah Airport, witnessing an increase of 119.2 percent as compared to 1.3 million passengers in the same period last year. The aircraft movement for the same term also marked an increase in the number of flights by 89 percent with 21,336 flights, compared ...

  Abu Dhabi / WAM The Centre for Astro, Particle and Planetary Physics (CAP3) at New York University Abu Dhabi (NYUAD) has produced and launched Spaced Out, the university’s first-ever podcast dedicated to astronomy and space science. Aimed at promoting scientific ideas and igniting curiosity among the public about astronomy and space science, the podcast will feature NYUAD’s own experts ...

  Bloomberg Commodities trading giant Cargill Inc expects some of its freight vessels to be powered by clean marine fuel before the end of this decade. In 2020, Cargill shipped almost 200 million tons of iron ore, grains and other goods around the world. It has as many as 700 vessels on the water at a time, and most of ...

  Bloomberg Sprng Energy Pvt is nearing a deal for Shell Plc to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said. An agreement between Sprng’s private equity owner Actis and the energy giant could be signed in two to three weeks after Shell beat out rival bidders, the people ...

  Bloomberg Philippine conglomerate Ayala Corp plans to acquire wind projects in the US in line with a target to boost its renewable energy capacity to 5,000 megawatts by 2025. Ayala unit ACEN got board approval to enter the US renewable energy market through a partnership with UPC Solar & Wind Investments LLC and Pivot Power Management. They will acquire ...

  Bloomberg The UK’s energy regulator Ofgem will investigate how local energy markets can cut costs and reduce the environmental impact of powering the country. The energy crisis and the war in Ukraine is driving up living and manufacturing costs in Britain. Overall, the average family will be $1,433 worse off over the next 12 months, according to the Resolution ...

It’s been more than a decade since the euro area’s last interest-rate increase, but this year will very likely finally see one again. Banks, lost in a desert of ever weaker interest income, are desperate for the small rewards that a couple of hikes will bring. But there are stark risks that higher borrowing costs and a slowing economy may ...

It’s never safe to ignore China. And it’s still too soon to forget about the pandemic. The country’s rapidly depreciating currency and especially the Covid lockdowns spreading from city to city are raising fears, yet again, of a Chinese shock to global growth. The weakening of the yuan over the last week cannot be ignored. Since Chinese authorities first allowed ...