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

DUBAI / WAM The Mohammed Bin Rashid Space Centre (MBRSC) released a GIF image of the decrease in nitrogen dioxide (NO2) concentration in the GCC countries, between November 26, 2019, until March 27 this year. The Remote Sensing Department at MBRSC published the results using data acquired by the European Space Agency’s Sentinel-5P mission. The drop in NO2 concentrations beginning ...

Dubai / WAM Dubai Aerospace Enterprise, DAE, has announced that it ended Q1 2020 with available liquidity of approximately $2.8 billion. DAE’s owned, managed and mandated-to-manage fleet exceeded 400 aircraft. During the said period, DAE sold or novated 15 aircraft, acquired 4 aircraft and transitioned or extended leases on 8 aircraft. Commenting on the announcement, Firoz Tarapore, DAE’s Chief Executive ...

ABU DHABI / WAM In response to the high level of commitment shown by the public with the precautionary measures to restrict traffic movement, the Ministry of Interior (MoI) decided to suspend all federal and local permits, and online applications for vehicles during the National Disinfection Programme, including the federal movement permit service, ‘Tajawal’ or ‘Move’. The move comes as ...

ABU DHABI / WAM The Department of Planning and Development, (Trakhees), activated its remote work system to ensure continuity of providing a total of 365 field and non-field services to its customers. The department was able to continue providing its services 100 percent without interruption during this period in line with government announcement to ensure safety and wellbeing of the ...

DUBAI / Emirates Business Expanding on the smart transformation of its services, and fulfilling its commitment to business continuity, Dubai Chamber of Commerce and Industry (DCCI) on Wednesday announced the launch of a series of webinars. These webinars aim to boost awareness of the private sector on various issues related to business environment and practices, and the various economic sectors. ...

Bloomberg Indonesia slashed its growth forecast by more than half as the coronavirus pandemic takes a toll on Southeast Asia’s biggest economy, prompting the government to adopt a series of emergency measures. The economy is now projected to grow 2.3% this year, compared to an initial estimate of 5.3%, Finance Minister Sri Mulyani Indrawati said in Jakarta on Wednesday. Under ...

Bloomberg Bangkok city hall has ordered all restaurants and stores to close from midnight to 5 am, its latest move to limit the spread of the novel coronavirus. Apart from the late-night shutdown of businesses, all parks will be closed starting from Thursday to April 30, according to Bangkok Metropolitan Administration Spokesman Pongsakorn Kwanmuang. The shutdown add tiers to state-of-emergency ...

Bloomberg Singapore home prices fell the most in more than three years in the first quarter as the coronavirus outbreak slammed the economy. Property values declined 1.2% in the three months ended on March 31, according to a preliminary estimate from the Urban Redevelopment Authority released on Wednesday. That’s the steepest decline since a 1.5% drop in the third quarter ...

Bloomberg KKR & Co is suspending its planned sale of Goodpack Ltd, a Singaporean provider of intermediate bulk containers, after bids fell short of expectations, according to people familiar with the matter. The coronavirus outbreak has disrupted the sale process, said the people, who asked not to be named as the information is private. The New York-based private equity firm, ...

Bloomberg Walt Disney Co will start its streaming service in India later this week, after a coronavirus lockdown upended its previous plans in one of the world’s biggest emerging markets for online video. The US entertainment giant planned to kick off Disney+ in India at the start of the wildly popular Indian Premier League cricket season on March 29. That ...