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 has launched an initiative for the return of foreign nationals holding valid residence visas. The move targets the return of nearly 200,000 people in coordination with the Ministry of Foreign Affairs and International Cooperation and the Federal Authority for Identity and Citizenship. The initiative is a continuation of the country’s efforts to ...

ABU DHABI / WAM Theodore Ribera, Minister of Foreign Affairs of the Republic of Chile, expressed his thanks and gratitude to the UAE for the aid plane sent to his country as part of the UAE’s efforts to help various countries around the world in containing the spread of Covid-19. This came as the minister received the airplane which carried ...

DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has received a positive assessment from the European Securities and Markets Authority (Esma) the EU’s securities markets regulator, and is now listed as a third-country trading venue (TCTV) that meets the post-trade transparency requirements under MiFID II and MiFIR. The DGCX met all the criteria set out ...

ABU DHABI / WAM The “Check Points” tests which are held by the Ministry of Education for grades 9-12 in government and private schools that apply the Ministry’s curricula, will start tomorrow in physics, science, chemistry, health sciences, biology and the English language. Students in the ninth, tenth and eleventh grades of “Elite Path” will take the first test tomorrow ...

ABU DHABI / WAM The Abu Dhabi Police has warned families against potential scam targeting children, teenagers and “unsuspecting” adults to illegally take their money through internet games, advertisements and social media forums. The scammers use various deceptive and lucrative methods to take advantage of their victims, posing as legitimate organisations or businesses. The police referred to recent cases, where ...

Dubai / WAM The Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy received 1,404 consumer complaints on the e-commerce sector during May, which was 228% higher than the complaints received in the same period last year (428 complaints). Of the total complaints, 94% were submitted through the smart channels of Dubai Economy, with 64% via the ‘Dubai Consumer’ ...

Bloomberg Explorers slashed drilling in the world’s biggest shale patch for a 13th straight week as they wrangle with a global pandemic that’s crimping demand for crude and leaving many strapped for cash. The number of active drilling rigs in the Permian Basin of West Texas and New Mexico fell by 4 to 137, just 3 above a record low ...

Bloomberg A giant Glencore Plc coal project in Australia has been fast-tracked as the nation turns to its vast natural resources to lift the economy out of its first recession in almost three decades. The A$1.5 billion ($1 billion) Valeria mine in Queensland has been designated a “coordinated project”, which the state said would help to get new jobs happening ...

Bloomberg Vietnam said Exxon Mobil Corp is considering investments in the nation’s power sector, a move that would support trade with the US and open a potential new frontier for the upstream-focused oil and gas major. The Texas-based company is weighing stakes in two power plants and the gas import infrastructure to feed them, as well as in the oil ...

There are at least 104,149 US military personnel who will not be leaving Europe. They rest in military graves, testimony to the cultural affinities and strategic vulnerabilities that produced the NATO trans-Atlantic alliance, now 71 years old. Intelligent, informed, public-spirited people can support the policy of removing by September about one-third of the 34,500 US troops stationed in Germany. Forces ...