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

Sharjah / WAM Arada announced the launch of a new premium garden villa community at Aljada, the 24 million square foot mixed-use destination in the heart of New Sharjah. Featuring 114 villas and townhouses set in a landscaped and exclusive neighbourhood, homes in Sarab 2 will be available for sale from August 10 onwards. With a range of two-bedroom townhouses, ...

Bloomberg India will stop importing more than 100 items used by its armed forces in a bid to boost local manufacturing. The ban will be implemented gradually, starting with products like sniper rifles and light-combat helicopters in December 2020 and long range land-attack cruise missiles in December 2025, the Ministry of Defense said in a statement on Sunday. Similar items ...

AL AIN / WAM The United Arab Emirates will launch a navigation satellite next year aimed at demonstrating the country’s technological capabilities, a top official told Emirates News Agency (WAM). “The first satellite will be launched in 2021 and the second — a technologically enhanced one — the following year,” said Dr Khaled Al Hashmi, Director of the National Space ...

Ajman / WAM Ajman’s Department of Economic Development (DED) announced the opening of all economic activities for those wishing to register for the Reyada Programme for working from home. The Reyada Programme is the first of its kind in Ajman, targeting Emiratis residing in the emirate and enables them to work from home, noting that the number of members registered ...

Dubai / WAM Emirates has announced it will increase its passenger services to/from Pakistan starting August 10, offering customers enhanced connectivity to over 70 destinations within its current network, via Dubai. The Dubai-based airline is set to ramp up its flight frequency to/from Karachi, Islamabad, Lahore, and Sialkot; and resume passenger services to Peshawar — providing customers worldwide with greater ...

Bloomberg Some of the world’s biggest energy traders are looking to get ahead in Japan’s nascent power market. From Royal Dutch Shell to German utility RWE, companies are hiring, reassigning staff and building relationships with Japanese firms to profit in the $136 billion market. After building markets in Europe and the US, they have their sights on the third-biggest economy, ...

Bloomberg Nigeria’s state oil company signed a preliminary agreement to end a dispute with two energy companies over oil exports, signalling a move towards resolving similar disagreements with other oil majors on revenue from several offshore oil fields. The Nigerian National Petroleum Corp said in a statement on Twitter it signed a deal with China’s Cnooc and Lagos-based South Atlantic ...

We have been too gentle with reality. It must be clear to almost everyone by now that the sudden and sharp economic downturn that began in late March is something more than a severe recession. That label was, perhaps, justifiable for the 2007-2009 Great Recession, when unemployment reached a peak of 10%. It isn’t now. “This situation is so dire ...

Back in March, Adidas AG Chief Executive Officer Kasper Rorsted likened dealing with the Covid-19 outbreak to a football match. There was a great first half of the game before the virus struck. The half-time break was longer than expected, but play would eventually resume. He showed just how damaging that halt was, but he said the tournament is now ...

It finally happened. After a month of threatening to do so, President Donald Trump issued executive orders that will ban the popular Chinese-owned social media apps TikTok and WeChat in the US on national security concerns. There are still some unknowns around the language and implementation of the decrees, and there’s a chance they get dialed back later during trade ...