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

  Bloomberg US futures fall with European stocks as concern about tighter policy lingered at the end of a volatile week, overshadowing strong earnings from Apple Inc. Futures on the S&P 500 extended a drop, while those on the Nasdaq 100 gave up gains of as much as 1.4%. Apple rises in premarket trading. Losses in tech and auto shares ...

  Bloomberg Indian stocks are facing the longest run of foreign outflows in five years, an exodus that’s stalling the market’s steady surge from pandemic lows in March 2020. Foreign institutional investors have been net sellers every month since September, dumping $7.9 billion worth of local shares since. The four-month streak of withdrawals is set to be the longest since ...

  ABU DHABI / WAM The Vatican has stressed that the UAE is a leading model of global human solidarity, and its humanitarian initiatives go beyond the limits of geography and encourage pioneering examples that promote peaceful coexistence, tolerance and peace in the whole world. This was stated during a phone call between HH Sheikh Abdullah bin Zayed Al Nahyan, ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received a message from President Kais Saied of Tunisia, on promoting relations between the two countries. The message was delivered to Khalifa Shaheen Al Marar, Minister of State, as he welcomed Mu’izz ...

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported a net profit of AED12.5 billion, compared to AED10.6 billion in 2020, marking a 19 percent increase year-on-year for the full year ended December 31, 2021. Group revenue was up 17% supported by solid trading performance and growth in fee-generating business, helping to offset headwinds from low-interest rates. Operating ...

  Abu Dhabi / WAM Taweelah Reverse Osmosis (RO), the world’s largest RO water desalination plant, will begin early commercial operations in the first quarter of 2022, by providing 100 million gallons per day (MGD), said Othman Al Ali, Chief Executive Officer of the Emirates Water and Electricity Company (Ewec). In a statement to the Emirates News Agency (WAM), Othman ...

  Bloomberg Tata Sons Pvt formally took charge of debt-laden Air India Ltd., ending years of failed attempts to sell the money-losing airline that has been kept afloat with billions of dollars of taxpayer money. “It is indeed noteworthy that the disinvestment process of @airindiain has been brought to a successful conclusion in a time-bound manner,” aviation minister Jyotiraditya Scindia ...

Abu Dhabi / WAM The National Marine Dredging Company (NMDC) achieved record profits in 2021, totalling AED1 billion, eight times the previous figure. This achievement further enhances the company’s global leadership among major international companies in the engineering, supply, and marine drilling sectors. In 2021, the company completed 72 projects and won another 17 projects in the UAE and worldwide. ...

  Abu Dhabi / WAM The UAE has successfully enhanced the growth and development of the industrial sector, with the Ministry of Industry and Advanced Technology overseeing a historic rise in industrial exports from the UAE to foreign markets, which totaled approximately AED120 billion (around $33 billion) in 2021. During the Federal National Council session, addressing the development of the ...

  Dubai / WAM Russia has grown to become the second-largest source market for Dubai’s travel and tourism sector in 2021, climbing from eighth place in last year’s rankings, according to data released ahead of the next edition of Arabian Travel Market (ATM), which will take place at Dubai World Trade Centre (DWTC) from May 9-12. Commissioned by Reed Exhibitions ...