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

SEOUL / WAM The number of foreigners visiting the Republic of Korea rebounded to nearly 89 percent of pre-pandemic levels in the first four months of this year, with arrivals from certain countries, including the United States and Taiwan, surpassing those levels, Yonhap News Agency reported. Korea welcomed 4.866 million international tourists from January to April, marking an 86.9 percent ...

RIYADH / GULF TIME In a strategic move aimed at expanding its presence in the Middle East and fostering stronger ties with the Gulf Cooperation Council (GCC) countries, Korea Tourism Organization (KTO) has announced the opening of its inaugural representative office in Riyadh, Saudi Arabia. This milestone marks a significant step in South Korea’s efforts to tap into the Saudi ...

DUBAI / WAM The Coordinating Council for Labour Market in the UAE held its first meeting, chaired by Dr Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, and attended by Council members, including officials, heads of local government departments, and representatives of federal government entities. The Council was formed in accordance with the Cabinet Decision 25/3 of 2024 regarding ...

DUBAI / WAM Emirates has begun using Sustainable Aviation Fuel (SAF) as part of its fuel agreement with Neste on flights departing from Singapore Changi Airport, marking its inaugural SAF investment in Asia. According to Emirates’ statement, approximately 3.3 million litres of blended SAF have been integrated into the fuelling system of Changi airport over the last few weeks. Emirates ...

DUBAI/WAM Emirates has begun using Sustainable Aviation Fuel (SAF) as part of its fuel agreement with Neste on flights departing from Singapore Changi Airport, marking its inaugural SAF investment in Asia. According to Emirates’ statement, approximately 3.3 million litres of blended SAF have been integrated into the fuelling system of Changi airport over the last few weeks. Emirates is tracking ...

ABU DHABI / AD MEDIA OFFICE Under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, in his capacity as Ruler of Abu Dhabi, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved the disbursement of the second ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to Emir of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah expressing his sincere condolences and sympathy over victims of the fire outbreak in the Mangaf area and wishing a speedy recovery for the injured. His Highness Sheikh Mohammed bin Rashid Al ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia on the death of Princess Munira bint Mohammed bin Turki bin Abdulaziz bin Turki Al Saud. His Highness Sheikh Mohammed bin Rashid Al ...

ABU DHABI/WAM NMDC Energy, in partnership with Technip Energies and JGC Corporation, have been awarded a contract worth US$5.5 billion by ADNOC for the engineering, procurement and construction (EPC) of the lower-carbon Ruwais LNG project, located in Al Ruwais Industrial City, Abu Dhabi. The project will consist of two natural gas liquefaction trains with a total LNG production capacity of ...

ABU DHABI/WAM The aggregate capital and reserves of banks operating in the UAE reached AED476.6 billion at the end of March 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE). The capital and reserves of banks operating in the country increased year-on-year (YoY) by about AED45.9 billion or 10.7 percent compared to approximately AED430.7 billion ...