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

ABU DHABI / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office and Chairman of the Executive Committee of Adnoc’s Board of Directors, has launched a landmark clean energy partnership between the Abu Dhabi National Oil Company (Adnoc) and Emirates Water and Electricity Company (EWEC). ...

DUBAI / WAM Dubai CommerCity, the first and leading e-commerce free zone in the region, has signed a strategic Memorandum of Understanding (MoU) with Mashreq, one of the leading financial institutions in the UAE. The MoU aims to offer Small to Medium Enterprises (SME) with the ideal ecosystem for setting up their e-commerce business, through providing them with access to ...

Dubai / WAM Abdullah Ali Ateeq Al Sabousi, UAE Ambassador to Australia, has said that Expo 2020 Dubai promotes international cooperation in drafting a global action plan to achieve sustainable development. In an interview with the Emirates News Agency (WAM), Al Sabousi highlighted the importance of the UAE’s hosting of Expo, a platform for promoting the country’s overall capacities and ...

Emirates Business The National Bank of Ras Al-Khaimah (Rakbank) announced a consolidated net profit of AED534.7 million for the nine-month period ended September 30, compared to the net profit of AED438.6 million for the same period last year. The total assets during the period equated to AED54.5 billion, increasing by 4.1% year-on-year and by 3.3% year-to-date. There are several factors ...

DUBAI / WAM Dubai CommerCity, the first and leading e-commerce free zone in the region, has signed a strategic Memorandum of Understanding (MoU) with Mashreq, one of the leading financial institutions in the UAE. The MoU aims to offer small to medium enterprises (SME) with the ideal ecosystem for setting up their e-commerce business, through providing them with access to ...

Dubai / WAM DP World Limited has handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first nine months of 2021, with gross container volumes increasing by 11.9 percent year-on-year on a reported basis and up 11.4 percent on a like-for-like basis. On a Q3 2021 basis, DP World handled 19.8 million TEU, ...

Dubai / Emirates Business Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, on Tuesday announces the launch of Skyz Tower, a Mediterranean-themed high-rise residential tower with elegantly-designed apartments, retail outlets and recreational facilities with a development value exceeding AED475 million. The project will be developed at ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 352,721 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Tuesday, the ministry stressed its aim to continue expanding scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out necessary treatment. As ...

Mohsin and Zuber Issa were looking like the cleverest men in retail. A little over a year ago, the billionaire brothers and buyout firm TDR Capital agreed to acquire a majority stake in Asda Group Ltd from Walmart Inc, in a deal valuing the British supermarket at 6.8 billion pounds ($9.4 billion). This summer they sold the grocer’s distribution centers ...

Amid all the scandals and controversy, Facebook Inc watchers were on pins and needles going into the company’s most hotly anticipated quarterly report in years. In the end, it fell a bit short. But with many expecting far worse, sometimes avoiding disaster is good enough. The social-media company posted third-quarter sales figures that slightly missed Wall Street’s expectations. Revenue in ...