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 The United Arab Emirates on Sunday announced an offer to host the 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Abu Dhabi in 2023, with a focus on the economic case for inclusive climate action. Commenting on the UAE’s offer to host COP ...

Dubai / WAM The Ministry of Finance (MoF) signed a Memorandum of Understanding (MoU) with Dubai SME, an integrated division of Dubai’s Department of Economic Development (Dubai Economy), to support the business sector and advance comprehensive and sustainable development in the country, Mariam Al Amiri, Under-Secretary, Financial Management Sector at MoF, and Saeed Matar Al Marri, Deputy CEO of Dubai ...

Abu Dhabi / WAM The United Arab Emirates has welcomed the Office of the United States Trade Representative (USTR) decision to remove the country from the US intellectual property protection (IPP) Watch List. In its 2021 Special 301 Report, the USTR outlined a set of key achievements made by the UAE in the field of IPP during the past period, ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 236,993 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Sunday, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary ...

Sharjah / WAM Arada has awarded the construction contract to build The Boulevard, an upscale residential complex at its Sharjah mega-community Aljada. Located in the East Village district of Aljada, The Boulevard comprises three apartment blocks. The nine-storey blocks are located next to Aljada’s main avenue. The AED180 million ($49 million) contract was won by Dubai-based Al Ashram Contracting, a ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) inaugurated six electricity transmission substations with a total investment of over AED 1.1 billion from the beginning of 2021 to April 30. This is part of its efforts to provide electricity and water services according to highest standards of availability, reliability, and efficiency. The substations include a 400 kilovolt (kV) substation ...

Complacency, populism and poor infrastructure fueled a devastating second wave of Covid-19 in India, a disaster that has infected millions and wrought havoc well beyond its borders thanks to a new, more contagious variant. But none of those failings are unique to the country. So why are we not paying more attention to surges elsewhere in the neighborhood, in places ...

Many people knew this was coming. Cryptocurrencies had one of the worst days in their short history last week. Bitcoin’s price careened, plunging 31% before recovering to a loss of about 10%. Ethereum, Dogecoin and Binance Coin all fell about 20%. The reasons why are still being sorted; crypto is a relatively new market and we don’t have much data ...

Recycling is “dead,” say the obituaries. And if it’s not dead it’s “broken,” “not working,” “in the bin,” “failing,” a “charade,” “a lie,” and of course “too good to be true.” This gloomy narrative has gained momentum over the past three years as cities struggled to find places to send the stuff that people toss in their blue bins. Some ...

Governments wanting to stop big businesses from shifting profits to low-tax jurisdictions have a carrot and a stick at their disposal. The stick involves regulating practices such as corporate inversion, aggressive transfer pricing and license royalties so that tax avoidance is effectively outlawed. The carrot involves lowering your own tax rates so that the advantages of moving profits offshore disappear. ...