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

  DUBAI / WAM The Latin America and Caribbean (LATAM) region can be an important economic partner to help Dubai meet its new target of boosting foreign trade to AED2 trillion over the next five years, according to a new guide published by Dubai Chamber of Commerce. The guide, titled Why Latin America? features valuable insights on promising economies in ...

  DUBAI / WAM Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, met on Tuesday with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The meeting, which took place virtually, sought to discuss the UAE’s participation in the 2022 virtual Spring Meetings of the World Bank Group (WBG) and the IMF. Younis Haji Al Khoori, Undersecretary ...

  DUBAI / WAM The Ministry of Energy and Infrastructure has won “Regulatory Initiative in Maritime Sustainability & Innovation Award” at ShipTek International Awards 2022. As the UAE continues its active role in strengthening the national maritime sector and advancing the maritime and logistics industry globally, this new achievement has consolidated the UAE’s leadership in the maritime sector and its ...

  DUBAI / WAM Sanad Village, the region’s largest rehabilitation centre for people of determination, and the Emirates Autism Society signed a Memorandum of Understanding (MoU) at Expo 2020 Dubai. Faris Saeed, Chairman of Sanad Village, and Majid Sultan Al Muhairi, Chairman of Emirates Autism Society, signed the agreement. Senior members from both parties attended the signing ceremony. The two ...

  Abu Dhabi / WAM Yahsat, Al Yah Satellite Communications Company PJSC – UAE’s flagship satellite solutions provider, on Tuesday announced that its government division, Yahsat Government Solutions (YGS), has signed a Memorandum of Understanding (MoU) with Al Seer Marine PJSC, the leading maritime company in the region, to test line-fitting unmanned vessels with advanced Comms-on-the-Move (COTM) satellite communications solutions. ...

  Bloomberg Indonesia, the world’s biggest palm oil producer and exporter, will push ahead with its ambitious biodiesel program even as prices of the tropical oil have soared, which could increase the costs of producing biofuel. The B30 program, which stipulates that fossil fuels must be blended with 30% palm oil, is still running as planned, said Dadan Kusdiana, director ...

  Bloomberg Petrobras Chairman Admiral Eduardo Bacellar Leal Ferreira plans to step down after three years at the helm of the state-controlled Brazilian oil giant, citing personal reasons. “My family lives abroad and I want to be close to them,” Ferreira, who turns 70 in June, said by phone. Rodolfo Landim, the former chief executive officer of BR Distribuidora, is ...

  Bloomberg The Netherlands unit of Chinese solar manufacturer Longi Green Energy Technology Co has been ordered by a Dutch court to stop selling some products because they infringe on patents held by a South Korean rival. The ruling affects sales in 11 countries, including Germany and France, and follows a lawsuit from Hanwha Solutions Corp, according to an exchange ...

  Bloomberg China’s top wind turbine producers are facing a growing challenge in the world’s largest market, as smaller players increase sales and with fierce competition on pricing. The market share of the top three turbine makers in China fell for the second year in a row and is now down to 48% from 62% in 2019, BloombergNEF analysts Leo ...

Bloomberg OMV AG, Austria’s biggest fossil-fuel company, will book charges of as much as 1.8 billion euros ($2 billion) related to the Nord Stream 2 pipeline and its investment in a giant natural gas field as it quits most Russian projects following the country’s invasion of Ukraine. The Vienna-based company expects value adjustments of 500 million to 800 million euros ...