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 Central Bank of the UAE (CBUAE) and Bank of Korea (BOK) renewed their bilateral currency swap agreement (BCSA), which was originally signed in October 2013 at a value of $5.4 billion, reaffirming their commitment towards promoting trade and financial cooperation between the two countries. The agreement, which contributed significantly to development of economic and financial ...

Bloomberg Stocks in Abu Dhabi are poised to reach their highest since September 2014 after the main gauge’s largest constituent First Abu Dhabi Bank (FAB) PJSC implemented a decision to raise its foreign ownership limit. The lender’s shares gained as much as 4.8 percent on Sunday, the most in a month. The increased cap for foreigners could trigger passive inflows ...

DUBAI / Emirates Business Eminent speakers across the Middle East’s entertainment and retail industry will converge at the 5th edition of Theme Parks & Entertainment Development Forum to highlight the UAE’s tremendous growth in the sectors and discuss the way forward. The two-day event will kick off on April 16 at The Meydan Hotel, Dubai, and will focus on the ...

SHARJAH / WAM Dana Gas has announced that during Q1 2019, Pearl Petroleum received $112 million (AED411 million) from the sale of condensate, liquefied petroleum gas, and gas in the Kurdistan Region of Iraq (KRI). Dana Gas is a 35 percent shareholder in Pearl Petroleum and its share of such receipts by Pearl Petroleum is $39 million. This presents 117 ...

ABU DHABI / Emirates Business Etihad Airways, the national airline of the UAE, and IBS Software (IBS), a leading provider of new generation IT travel solutions, have signed a contract to enhance the airline’s operations. This will be done by implementing IBS’ iFlight NEO Ops and iFlight NEO HUB systems as the core technological solutions that will help increase on-time ...

DUBAI / WAM Dubai Airports on Monday confirmed operations teams at both airports are ‘good to go’ for the commencement of the 45-day long refurbishment of the southern runway at Dubai International (DXB). The runway is nearing the end of its design life and requires a complete upgrade to accommodate future traffic growth. “Planning and preparations have been underway for ...

ABU DHABI / wam All Abu Dhabi International Book Fair (ADIBF), exhibition areas have sold out, with more than 100 publishers on the waiting list, the Department of Culture and Tourism – Abu Dhabi revealed on Sunday. At a press conference held at Manarat Al Saadiyat, DCT Abu Dhabi also announced that this year’s edition will see the introduction of ...

DUBAI / WAM The second meeting of the Executive Committee of the Saudi-Emirati Coordination Council will begin on Monday in the Saudi capital, Riyadh, under the framework of implementing a joint integration vision between the UAE and Saudi Arabia in terms of the economy, development and the military, as well as to intensify their cooperation on issues of common interest. ...

DUBAI / WAM Emirates Post announced that it won its third International Express Mail Services (EMS) accolade for outstanding Customer Services, making the UAE the only Arab country to win the award three times. Granted by the EMS unit of the Universal Postal Union (UPU), the award reaffirms the organisation’s position as leading postal, express delivery and courier firm that is ...

Dubai / WAM The Kingdom of Saudi Arabia revealed on Sunday the design of its pavilion for the upcoming Expo 2020 Dubai. The pavilion will be second in size only to that of the UAE pavilion, covering an area the size of two football pitches. The pavilion’s design is “distinctive and memorable” symbolising Saudi Arabia’s “welcoming character, long heritage and ...