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 value of grants provided by the UAE in the first half of 2019 rose to AED10.5 billion, an increase of 56.7 percent compared to the same period in 2018. The total value of registered grants provided by the country in 2018 amounted to AED13.3 billion, a growth of 14.7 percent compared to 2017, according to ...

DUBAI / Emirates Business Chinese tourists to Dubai can now benefit from instant VAT refund capabilities at Dubai Airports via the We Tax Refund on the WeChat Mini Program, launched by Chinese tech giant, Tencent, and international payments service provider, Planet. With the support of Dubai’s Dubai Tourism, the new integrated service provides a seamless and secure way for visitors ...

Bloomberg The International Monetary Fund (IMF) made a fifth-straight cut to its 2019 global growth forecast, citing a broad deceleration across the world’s largest economies as trade tensions undermine the expansion. The world economy will grow 3% this year, down from 3.2% seen in July, with the 2020 estimate lowered to 3.4% from 3.5%, the fund said on Tuesday in ...

ABU DHABI / Emirates Business The Abu Dhabi International Boat Show (ADIBS) 2019 is all set to begin on Wednesday at the Abu Dhabi National Exhibition Centre (Adnec) Marina, with the participation of 284 companies and brands in the leisure marine industry. ADIBS 2019, which is organised by Abu Dhabi National Exhibitions Company, will evoke a sense of the rich ...

Bloomberg Advisers working on Saudi Aramco’s mammoth share sale may split a fee pool of as much as $450 million, according to people with knowledge of the matter, making it one of the biggest IPO pay outs globally. The oil giant is set to pay between $350 million and $450 million to a group of more than 20 banks working ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Vladimir Putin of Russia on Tuesday held an official meeting at the Presidential Palace in Abu Dhabi. His Highness welcomed the Russian President and his accompanying delegation. Sheikh Mohamed bin Zayed expressed ...

Bloomberg Hong Kong’s subway system has closed early for more than a week, effectively cutting off the main mode of transportation for millions of residents. Many are now wondering how long it will last. Following unprecedented vandalism on the night of October 4, when Chief Executive Carrie Lam banned face masks after invoking emergency powers last used in 1967, many ...

Bloomberg Former South African President Jacob Zuma was briefly back in court on Tuesday as the start of his trial on graft, racketeering and money laundering charges inched closer, a decade after prosecutors tried to shelve the case amid allegations of political interference. High Court Judge Sharmaine Bolton delayed the trial in the eastern town of Pietermaritzburg until February 4 ...

Bloomberg Protesters continued to disupt rail and road travel as unrest flickered across Catalonia a day after a Madrid court handed down jail sentences totalling 100 years to separatist leaders who tried to split the region from Spain in 2017. Demonstrators blocked several highways while the high-speed rail service north of Barcelona to Girona was disrupted by damage to the ...

Bloomberg The French government believes that the UK presented a “serious proposal” to exit the European Union, though it is too early to say if there will be a deal by the European summit later this week. The situation regarding Brexit must be clear before the EU leaders meet on Thursday in Brussels, about two weeks prior to the October ...