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 Etihad Airways on Wednesday announced its commitment to a minimum target of zero net carbon emissions by 2050 and halving its 2019 net emission levels by 2035. In a press release issued by Etihad on Wednesday, coinciding with Abu Dhabi Sustainability Week, the company said that its ambitious environmental targets will be achieved through a mix ...

DUBAI / Emirates Business Emirates on Wednesday announced that it has signed a Memorandum of Understanding (MoU) with Trip.com Group, a world’s leading one-stop travel service provider. The agreement was signed in Shanghai by executives of both companies, signalling the start of a strategic cooperation between Emirates and Trip.com Group and allowing the airline to expand its reach in the ...

SHARJAH / WAM Arada announced that its total value of sales rose 33% in 2019 compared to the previous year, boosted by significant investor interest in Sharjah’s megaproject, Aljada. The total number of units sold by Arada increased by 86% against the previous year. Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada, said, “2019 was a very strong year ...

ABU DHABI / WAM Masdar, one of the world’s leading renewable energy companies and a subsidiary of Mubadala Investment Company, and Cepsa, a global energy and chemical company owned by Mubadala and The Carlyle Group, on Wednesday announced an agreement to establish a joint venture company to develop renewable energy projects in Spain and Portugal. The 50:50 venture was announced ...

Abu Dhabi / WAM Bee’ah, the Middle East’s sustainability pioneer, and Unilever Gulf, one of the region’s leading suppliers of beauty and personal care, home care, and food and refreshment products, announced a Memorandum of Understanding (MoU) at the Abu Dhabi Sustainability Week 2020 to explore collaboration in an end-to-end integrated plastic recycling management system, through ambitious plans for a ...

Bloomberg Singapore has just made it easier for investment firms to register funds locally in a bid to increase its allure as a financial hub. A new law, which came into effect on January 14, encourages asset managers to domicile their funds in Singapore by allowing the creation of a single structure to hold a pool of assets and multiple ...

Bloomberg Indonesian prosecutors detained five suspects, including a businessman who lost a case to Goldman Sachs Group Inc in a share ownership dispute, as authorities widened a probe into investment irregularities at the nation’s oldest insurer that’s pushed it to the brink of collapse. Benny Tjokrosaputro, president director of PT Hanson International, Heru Hidayat, president commissioner of PT Trada Alam ...

Bloomberg Bharti Airtel Ltd, an Indian wireless carrier, raised $3 billion from the sale of shares and bonds to help pay government fees falling due in about a week. The New Delhi-based company, which was ordered by the nation’s top court to pay $3 billion in airwaves and license fees, raised $2 billion from a so-called qualified institutional placement, according ...

Bloomberg Western Asset Management Co is reducing its Indian government bond holdings as tensions around a new citizenship law and the Kashmir region cloud the economic outlook. The $453 billion investor, an affiliate of Legg Mason Inc, is diverting some of its funds into longer-dated Malaysian and Chinese debt, according to Desmond Soon, head of investment management for Asia ex-Japan. ...

Bloomberg India is considering a plan to offer subsidised loans to mobile handset manufacturers in a bid to attract Apple Inc and Samsung Electronics Co’s suppliers to open factories in the nation, said a government official. The proposals by the Ministry of Electronics and Information Technology includes offering interest subsidy on local borrowing by manufacturers, may form part of the ...