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

Bloomberg Singapore is set to host the world’s first electric-powered air taxi service by the end of 2023, according to Volocopter GmbH, which is developing the vertical-takeoff craft. The German manufacturer is committed to starting operations within three years once it completes flight trials, evaluation and certification in collaboration with the city-state, it said in a statement. Tickets for a ...

Bloomberg Oracle Corp, a Silicon Valley stalwart, has moved its headquarters to Texas, becoming the latest technology company to leave its home state in the face of California’s higher taxes, steeper cost of living and a broader shift to remote work. The move to Austin from Redwood City “means that many of our employees can choose their office location as ...

ABU DHABI / WAM The UAE’s Ministry of Health and Prevention (MoHAP) has announced the official registration of Beijing Institute of Biological Product’s inactivated Covid-19 vaccine in a major step towards combating the global pandemic. The registration of this vaccine is a decision in response to the application from Sinopharm CNBG. The announcement is a significant vote of confidence by ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the signing of an exploration concession agreement, awarding the exploration rights for Abu Dhabi Onshore Block 5 to Occidental, a US-based international oil and gas exploration and production company. The award has been approved by Abu Dhabi’s Supreme Petroleum Council (SPC) and follows the SPC’s endorsement ...

DUBAI / WAM Professional Communication Corporation (Nedaa) signed a new partnership agreement with Airbus at the ongoing Gitx Technology Week 2020 in Dubai for the deployment of mission-critical communication solutions. Mansoor Bu Osaiba, CEO of Nedaa, and Walid Lahoud, Head of Sales Middle East and North Africa for Secure Land Communications at Airbus, inked the agreement during a signing ceremony ...

ABU DHABI / WAM The Abu Dhabi Emergency, Crisis and Disasters Committee for the Covid-19 Pandemic has announced that it has started working with all concerned and relevant authorities to fully resume economic, tourism, cultural and entertainment activities in the emirate within two weeks. This decision comes after the success of efforts made to maintain a low percentage of confirmed ...

ABU DHABI / WAM Abu Dhabi Ports and the Manufacturers Association of Israel (MAI) on Wednesday signed an agreement to enhance trade, investment and technology cooperation between the UAE and Israel, in the presence of Falah Mohamed Al Ahbabi, Member of the Abu Dhabi Executive Council and Chairman of Abu Dhabi Ports. The Memorandum of Understanding opens a dialogue between ...

FUJAIRAH / WAM Stockpiles of oil products at Fujairah jumped 12 per cent in the week to December 7, the biggest rise since February amid signs of slowing exports from the UAE port, according to data issued on Wednesday by the Fujairah Oil Industry Zone (FOIZ). The total stood at 23.088 million barrels as of December 7, the highest since ...

DUBAI / WAM flydubai on Wednesday announced the start of flights to Grozny, the capital of Chechnya in Russia, making it the first carrier to offer direct flights on this route from the UAE. Flights between Dubai International (DXB) and Grozny Airport (GRV) will operate twice weekly starting from December 7, 2020. flydubai has been operating flights to Russia since ...

ABU DHABI / WAM Marking its first year, EDGE, the UAE’s advanced technology group for defence and beyond, was ranked among the top 25 military suppliers in the world by the Stockholm International Peace Research Institute (SIPRI), a think tank that specialises in data analysis of military expenditure and arms trade among other peace and security related matters. With this ...