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

ABU DHABI / AD MEDIA OFFICE ADQ has announced the formation of Arcera, a global holding company in the life sciences sector headquartered in Abu Dhabi, which aims to be a leader in addressing and mitigating healthcare challenges by offering products that improve the quality and longevity of human life. Consolidating ADQ’s existing assets in the sector, the establishment of ...

DUBAI / WAM The Federal Tax Authority (FTA) has called on business sectors to share their ideas and proposals for sustainably developing the Authority’s services; keeping pace with the Zero Government Bureaucracy Programme launched by the UAE Government; and boosting efficiency, quality, and flexibility, while streamlining government procedures and doing away with unnecessary requirements. The authority hosted a Suhoor event ...

ABU DHABI / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, honoured the recipients of the tenth session of the Holy Qur’an Tahbeer and its Sciences Award, themed “Year of Sustainability.” Sheikh Saif extended recognition to the partners, supporters, and media professionals whose contributions were instrumental in the success of ...

ABU DHABI / WAM The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED17.921 billion by the end of January 2024, a year-on-year (YoY) growth of 7 percent. The apex bank, in its latest figures, showed that gold reserves mildly dropped by 1.25 percent compared to AED18.147 in December 2023. The UAE’s gold reserves significantly ...

ABU DHABI / WAM Artificial intelligence (AI) could play a key role in extending health services to underserved and vulnerable communities, by revolutionizing prevention and diagnosis, and helping develop bespoke medicines while expanding access to care. With the costs of healthcare coverage continuing to rise and environmental issues such as climate change and air pollution exacerbating community health issues, millions ...

TOKYO / WAM Asian shares mostly rose Thursday after a firm finish on Wall Street, as expectations remained solid for U.S. interest rate cuts this year, Associated Press (AP) reported. Japan’s benchmark Nikkei 225 rose 0.8 percent to 39,773.14. Sydney’s S&P/ASX 200 rose 0.5 percent to 7,817.30. South Korea’s Kospi added 1.3 percent to 2,742.00. Analysts say Taiwan Semiconductor Manufacturing ...

DUBAI / WAM The Marine Agency for Wooden Dhows has facilitated the entry of about 3,000 wooden ships during the first quarter of 2024, transporting over 390,000 metric tonnes of various materials and food items through Al Hamriya Port, Deira Wharfage and Dubai Creek. The accomplishment reflects the comprehensive efforts of the Ports, Customs and Free Zone Corporation (PCFC) to ...

ABU DHABI / WAM Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, has unveiled a record increase in total financing since the launch of EDB’s strategy in 2021 to AED10.4 billion, bringing its cumulative contribution to the nation’s industrial GDP impact to AED4.9 billion. The milestone results were presented at a ...

ABU DHABI / WAM Savings deposits in the UAE’s banking sector, excluding interbank deposits, attracted around AED25 billion to reach AED270.48 billion at the end of January 2024, compared to about AED245.54 billion in January 2023, with an annual growth of 10.2 percent, according to the latest statistics from the Central Bank of the UAE (CBUAE). The local currency, the ...

ABU DHABI / WAM UAE President His Highness Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Bassirou Diomaye Faye of Senegal, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice ...