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

DUBAI / WAM On the third day of the Dubai Airshow 2021, the Ministry of Defence announced the conclusion of 6 deals worth AED 4,257,401,000.00 with local and international companies. This brings the total deals concluded during the first three days to 16 deals, with a total value of AED 20, 781,446,000.00. The deals of the first day amounted to ...

ABU DHABI / WAM Tawazun Economic Council (Tawazun) and Al Yah Satellite Communications Company PJSC (“Yahsat” and, together with its subsidiaries, “the Group”) the UAE’s flagship satellite solutions provider, on Tuesday announced the signing of an agreement for the incorporation of their proposed joint venture, Star Technologies, at Dubai Airshow. Star Technologies will develop best-in-class satcom capabilities, building upon the ...

ABU DHABI / WAM The UAE and Russian Federation have signed a ‘declaration of intent’ to form a joint task force that will work to promote cooperation between the two countries in the energy sectors specifically in clean energy. The announcement aims to achieve sustainable developments requirements, as well as, Paris Climate Change Agreement as the two countries are pioneers ...

DUBAI / WAM Sarah bint Yousif Al Amiri, UAE Minister of State for Advanced Technology and Chairwoman of the UAE Space Agency, discussed with Kamal bin Ahmed Mohammed, Minister of Transportation and Communications and Chairman of the National Space Science Agency in the Kingdom of Bahrain, ways to enhance prospects for cooperation in the space sector. In their meeting on ...

Sharjah / WAM HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council (SEC), chaired on Tuesday the meeting of the Executive Council at the Ruler’s Office. The meeting discussed a number of topics on its agenda on developing government work of the development projects in all vital ...

Dubai / Emirates Business The Dubai Financial Market (DFM) on Tuesday announced an incentives program to encourage new IPOs and listings from private sector companies representing numerous rapidly growing economic sectors that strongly contribute to GDP as well as the new-economy related firms. The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s ...

Abu Dhabi / Emirates Business Abu Dhabi Islamic Bank’s (Adib) Board of Directors on Tuesday appointed UAE national Nasser Abdulla Al Awadhi as Adib’s new Group Chief Executive Officer starting from January 9, 2022 subsequent to UAE central bank approval. Nasser brings over 33 years of experience in banking and is a leading practitioner in Islamic finance, having held a ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Tuesday announced record investments worth up to almost $6 billion (AED22 billion) to enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drives gas self-sufficiency for the UAE. The announcement was made at the Abu Dhabi ...

Dubai / WAM Edge Group entity (EPI), the precision engineering backbone of the UAE’s aerospace and defence industry, and Strata Manufacturing (Strata), the advanced manufacturing facility wholly-owned by Mubadala Investment Company PJSC (Mubadala), signed a framework agreement which will further boost the establishment of a sustainable aerospace industry in Abu Dhabi. The agreement between the two UAE companies, signed by ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan issued the Federal Decree – Law No.33 of 2021 on the regulation of labour relations in the private sector that will take effect from February 2, 2022. The new decree-law seeks to enhance the elasticity, resilience and sustainability of the labour market nationwide, as well as ensure ...