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

Ras Al Khaimah / Emirates Business Ras Al Khaimah Economic Zone (Rakez) has organised its ‘Customers Come First’ webinar, one of the RAKEZ digital events that are intended to provide valuable information and platform for discussions between the Rakez and its clients during social distancing times. Presented by Ryanne Van Der Eijk, Rakez Chief Customer Experience Officer, the webinar walked ...

ABU DHABI / WAM Agthia Group on Sunday announced its financial results for the first quarter of 2020, registering total revenues of AED571 million, a 12 percent year-on-year growth compared to the same period in 2019. In a statement on Sunday, Agthia registerd net profits of AED27 million as of March 31. The group’s agri-business recorded AED273 million in revenues, ...

Dubai / Emirates Business Dubai Silicon Oasis Authority (DSOA) allocated additional exemption packages and incentives to the business sector, in line with Dubai’s government decision to gradually open a number of economic sectors, shopping centers and commercial stores. This step is a continuation to the previous relief packages implemented by DSO which were well-received by partners and stakeholders. The new ...

Dubai / WAM DP World Dakar has kept trade flowing in the fight against the spread of Covid-19 in Senegal, working to make certain that vital goods such as food and medical supplies can get through, while ensuring strict health and safety measures are in place to protect employees. In a statement, DP World explained some of the working mechanisms ...

Bloomberg Petroleos Mexicanos’s trading arm PMI has declared a force majeure on some fuel cargoes, deferring other cargoes until later in the year, after measures to contain the coronavirus outbreak pummeled demand. Some fuel deliveries are being postponed until the second half of the year, according to people familiar with the situation. More than 70 tankers were waiting to unload ...

Bloomberg Ghana’s government directed Eni SpA to start talks on combining its deposit at an offshore field with a neighbouring explorer, according to a letter seen by Bloomberg. The Italian major, which operates the Sankofa Oil and Gas fields in a venture with Vitol Holding, has 120 days to conclude a draft so-called unitisation and operating agreement with Springfield Exploration ...

If you’ve been paying attention to the economic news over the past couple of decades — we’re talking here about long-term trends, not cyclical shifts — you know that one of the great disappointments is the lackluster performance of productivity. You’ll recall that productivity is economists’ jargon for what most people call efficiency. Productivity gains are the ultimate source of ...

The e-commerce rebels are making their advance. Last October, Shopify Inc CEO Tobi Lutke said his company’s goal was to “arm the rebels” against the Amazon.com Inc empire. Since then, the mantra has become a rallying cry for Shopify’s employees and the merchant customers that use its e-commerce store software. And now, the business turmoil sparked by the Covid-19 pandemic ...

What sort of green stimulus does the world need? Technologies that reduce carbon emissions are one of the most effective targets for the trillions of dollars of spending tied to coronavirus relief programs, more than 200 central bankers, Group of 20 finance ministers and top academics concluded in a study. There are three sets of clean power technologies that policymakers ...

China’s banks have a deposit problem. The timing couldn’t be worse. The virus shutdown pushed households to put their money in a safe place in the first quarter, with system-wide deposits rising by a record 6.47 trillion yuan ($912 billion). Some large banks did the same, parking their own cash at smaller peers that offer higher returns. At China Construction ...