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

Bloomberg The outlook for global oil markets has grown “even more fragile” as a resurgent pandemic derails the recovery in demand, the International Energy Agency (IEA) said. The IEA, which advises major economies, trimmed forecasts for fuel consumption for the rest of the year and predicted that oil inventories — which rebounded to record levels in July — won’t subside ...

DUBAI / WAM Dubai’s dnata, one of the world’s leading air services providers, has commenced operations at its new catering unit in Dublin. The state-of-the art facility quadruples dnata’s catering capacity in the Irish capital, enabling the company to deliver 40,000 quality inflight meals a day for customers. Already serving six airlines from its existing facility in Dublin, dnata’s continued ...

Abu Dhabi / WAM ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diverse economy, announced the launch of Union71, a new laboratory testing company for healthcare providers in the UAE. The lab company aims to improve healthcare outcomes and reduce costs on both at national and regional ...

DUBAI / WAM More than 6.7 million laboratory tests were conducted by the Dubai Health Authority’s (DHA) Pathology and Genetics Department in 2019. Out of the 6,696,885 tests conducted last year, 2,666,805 were visa screening tests, 61,736 were pre-marital tests and 9,499 were genetics tests. The remaining tests were of microbiology, haematology and transfusion services, biochemistry, immunology, histology and cytology. ...

Washington / WAM On this historic occasion, the United Arab Emirates (UAE) signed a peace accord with the State of Israel. His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation signed a peace accord with Israeli’s Prime Minister, Benjamin Netanyahu, on behalf of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan. ...

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec), and its subsidiary responsible for the operation and maintenance of the Barakah Nuclear Energy Plant, Nawah Energy Company (Nawah) have marked a key milestone in their joint efforts to develop the UAE’s nuclear energy supply chain with the qualification of Adnoc Distribution as the first local supplier of petroleum products. ...

RAS AL KHAIMAH / WAM RAK Leisure, the subsidiary of RAK Hospitality Holding, has announced the launch of 1484 by Puro on October 1. The highly anticipated restaurant located atop the Jais Adventure Peak is named for its height of 1,484 metres above sea level and is the UAE’s highest restaurant offering. Located next to the Jais Adventure Centre, 1484 ...

Dubai / WAM The Dubai-headquartered telecom operator du will get AED800 million from selling its 26 percent stake in Khazna Data Centre to Abu Dhabi’s Technology Holding Company. Net revenue from the deal could be about AED521 million. It was last week that the du management confirmed there were moves to divest its Khazna stake. Once the transaction is complete, ...

DUBAI / WAM Dubai’s Emirates Airlines has announced it will resume its A380 service to Moscow Domodedovo Airport (DME) following an increase in market demand. “The airline resumed flights to the Russian capital last week and due to strong passenger demand, its iconic Emirates A380 will operate the Dubai to Moscow route starting September 18,” Emirates said in a statement. ...

Ajman / WAM The Ajman Chamber of Commerce and Industry (ACCI) announced that it has signed a Memorandum of Cooperation with “elGrocer”, to optimally utilise the capabilities of the two parties to serve entrepreneurs, particularly in the field of e-commerce to ensure the growth and development of their business through technologies available. “elGrocer” is an electronic platform that acts as ...