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

Bloomberg Shiseido Co is making it easier for customers to benefit from — and pay for — perfect skin. For 10,000 yen ($92) a month, subscribers will be able to access the Japanese cosmetics maker’s custom-designed skincare service, called Optune. Using a smartphone app that analyses skin and a dispenser with five serum-and-lotion cartridges, Shiseido says its product will deliver ...

ABU DHABI / WAM A senior official announced a commitment to a new solar project in Abu Dhabi that is expected to set a new record. “I am excited to announce a new 2 gigawatt (GW) solar project in Al Dhafra region in Abu Dhabi. This will eclipse the record-breaking 1GW Noor Abu Dhabi Plant,” said Dr Thani bin Ahmed ...

Bloomberg DP World Plc is in “very advanced” discussions to acquire Topaz Energy & Marine Plc in what would be the Dubai-based company’s first venture into the oil and gas sector. The world’s largest port operator also said in a statement that there is no certainty of a transaction. Sky News reported earlier that a $1.3 billion deal could be ...

SHARJAH / WAM Dana Gas has announced that it received payments of $48 million (AED177 million) from its operations in Egypt in June. These collections comprise $38 million in payments from the government (of which $30 million as Dana Gas’ share of the industry payment) and $10 million from the sale of the second El Wastani condensate shipment in 2019. ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) has received the International Association of Convention Centres’ (AIPC) Innovation Award for its new innovative meeting space, ‘The Hive’. Adnec won the industry recognition following stiff competition from seven leading international venues across seven countries including Australia, Finland, South Africa, Canada, Germany, Singapore and Russia. The Hive, the first of ...

Bloomberg President Donald Trump declared the US was “winning” the trade war a day after reaching a temporary truce with Chinese President Xi Jinping. On a visit to South Korea following the Group of 20 summit in Japan, Trump said at a news conference that the Federal Reserve “has not been of help to us at all” in his trade ...

Bloomberg The Organization of Petroleum Exporting Countries’ (Opec’s) output fell for a seventh consecutive month as the group signalled it would keep supplies restrained at least until the end of the year. Crude production in June dropped to 30 million barrels a day as US sanctions further curtailed Iranian shipments and Saudi Arabia chose to pare back its output. The ...

Dubai / Emirates Business Dubai’s non-oil trade with Ukraine nearly doubled over between 2016 and 2018 to reach $571 million last year, while Ukrainian agricultural and metal exports dominated trade volumes. Signalling expanding ties between businesses in Ukraine and Dubai, the trade figures were recently revealed at the 5th National Export Forum in Kiev, Ukraine, where representatives from Dubai Chamber ...

Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, received three global awards at the 110th IDEA Annual Conference & Tradeshow 2019, which was held in Pittsburgh, USA. Two are IDEA gold awards, for the number of buildings committed and for the total Building area committed. The third award is the IDEA ...

Dubai / WAM The Dubai Supreme Council of Energy (DSCE), on Sunday announced that Dubai carbon emissions have decreased significantly despite the Emirate continuous growth and development, in conjunction with the convening of the preparatory conference for the UN 2019 Climate Summit in Abu Dhabi. The net CO2 emissions of the Emirate of Dubai have achieved an astounding 19 percent ...